MGM Resorts International (NYSE:MGM) Price Target Lowered to $46.00 at Capital One Financial

MGM Resorts International (NYSE:MGM) had its price target cut by equities research analysts at Capital One Financial from $47.00 to $46.00 in a report issued on Friday,MarketScreener reports. The firm presently has an “overweight” rating on the stock. Capital One Financial‘s target price points to a potential upside of 27.49% from the company’s current price.

A number of other analysts also recently commented on the company. Truist Financial reduced their price objective on MGM Resorts International from $48.00 to $47.00 and set a “buy” rating for the company in a research report on Thursday, October 30th. Stifel Nicolaus set a $45.00 price objective on shares of MGM Resorts International in a report on Thursday, October 30th. Argus cut their price target on shares of MGM Resorts International from $45.00 to $40.00 and set a “buy” rating for the company in a research note on Friday, November 14th. Wells Fargo & Company began coverage on MGM Resorts International in a report on Tuesday, November 18th. They set an “underweight” rating and a $29.00 price objective on the stock. Finally, UBS Group dropped their target price on MGM Resorts International from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Monday, November 17th. Thirteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $45.42.

MGM Resorts International Stock Performance

MGM opened at $36.08 on Friday. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 1.80. The stock’s 50 day moving average price is $33.00 and its two-hundred day moving average price is $34.63. The firm has a market capitalization of $9.87 billion, a P/E ratio of 225.51, a price-to-earnings-growth ratio of 2.62 and a beta of 1.48. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $41.32.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.13). MGM Resorts International had a return on equity of 17.23% and a net margin of 0.40%.The company had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same quarter in the previous year, the business posted $0.54 EPS. The company’s revenue was up 1.6% on a year-over-year basis. On average, equities analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Keith A. Meister sold 242,000 shares of MGM Resorts International stock in a transaction on Thursday, September 11th. The stock was sold at an average price of $35.42, for a total value of $8,571,640.00. Following the completion of the sale, the director directly owned 5,385,478 shares of the company’s stock, valued at approximately $190,753,630.76. This trade represents a 4.30% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Mcmanus sold 60,000 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $36.12, for a total value of $2,167,200.00. Following the transaction, the insider directly owned 31,521 shares in the company, valued at $1,138,538.52. This trade represents a 65.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 3.06% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. US Bancorp DE lifted its holdings in MGM Resorts International by 6.2% in the first quarter. US Bancorp DE now owns 20,525 shares of the company’s stock valued at $608,000 after buying an additional 1,200 shares during the period. PNC Financial Services Group Inc. raised its position in shares of MGM Resorts International by 15.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 39,138 shares of the company’s stock valued at $1,160,000 after acquiring an additional 5,291 shares during the last quarter. Blair William & Co. IL lifted its stake in shares of MGM Resorts International by 1.7% in the 1st quarter. Blair William & Co. IL now owns 38,027 shares of the company’s stock valued at $1,127,000 after purchasing an additional 630 shares during the period. Headlands Technologies LLC lifted its stake in shares of MGM Resorts International by 1,395.4% in the 1st quarter. Headlands Technologies LLC now owns 5,548 shares of the company’s stock valued at $164,000 after purchasing an additional 5,177 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of MGM Resorts International by 18.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 408,812 shares of the company’s stock worth $12,117,000 after purchasing an additional 62,343 shares during the period. 68.11% of the stock is currently owned by institutional investors and hedge funds.

MGM Resorts International Company Profile

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.