Capital One Financial Forecasts Strong Price Appreciation for MGM Resorts International (NYSE:MGM) Stock

MGM Resorts International (NYSE:MGM) had its price target increased by Capital One Financial from $52.00 to $56.00 in a report issued on Wednesday. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also commented on the stock. Barclays lowered their price objective on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. Truist Financial decreased their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a “buy” rating for the company in a research note on Tuesday, January 14th. Jefferies Financial Group lowered their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Wells Fargo & Company cut their price objective on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Finally, Susquehanna Bancshares boosted their price target on MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $52.44.

MGM Resorts International Trading Up 0.2 %

NYSE MGM opened at $34.34 on Wednesday. The stock’s fifty day moving average price is $34.25 and its 200-day moving average price is $36.81. The stock has a market cap of $10.22 billion, a P/E ratio of 12.26, a P/E/G ratio of 2.94 and a beta of 2.20. MGM Resorts International has a 12 month low of $31.61 and a 12 month high of $48.24. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. As a group, equities analysts forecast that MGM Resorts International will post 2.37 EPS for the current fiscal year.

Insider Activity at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.13% of the company’s stock.

Hedge Funds Weigh In On MGM Resorts International

A number of institutional investors and hedge funds have recently bought and sold shares of MGM. Empower Advisory Group LLC grew its holdings in MGM Resorts International by 4.2% during the 3rd quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock worth $61,430,000 after acquiring an additional 62,997 shares during the period. Goldentree Asset Management LP boosted its position in MGM Resorts International by 86.4% during the 3rd quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock worth $117,270,000 after acquiring an additional 1,390,599 shares during the last quarter. Miracle Mile Advisors LLC acquired a new stake in MGM Resorts International in the 4th quarter valued at $2,010,000. Assenagon Asset Management S.A. increased its position in shares of MGM Resorts International by 80.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock worth $12,411,000 after purchasing an additional 159,522 shares during the last quarter. Finally, Zacks Investment Management grew its position in shares of MGM Resorts International by 7.8% in the 3rd quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock valued at $15,651,000 after acquiring an additional 29,107 shares during the period. Institutional investors and hedge funds own 68.11% of the company’s stock.

About MGM Resorts International

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.