MGM Resorts International (NYSE:MGM) Price Target Raised to $56.00 at Capital One Financial

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

Several other research firms also recently commented on MGM. Barclays cut their target price on 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. JMP Securities reiterated a “market outperform” rating and set a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, January 16th. Morgan Stanley upped their price objective on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Truist Financial cut their target price 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. Finally, Mizuho cut their price objective on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $52.44.

MGM Resorts International Stock Performance

MGM opened at $34.34 on Wednesday. The stock’s 50 day simple moving average is $34.25 and its 200-day simple moving average is $36.81. The company has a current ratio of 1.24, a quick ratio of 1.21 and a debt-to-equity ratio of 1.63. The stock has a market cap of $10.22 billion, a PE ratio of 12.26, a P/E/G ratio of 2.94 and a beta of 2.20. MGM Resorts International has a 1 year low of $31.61 and a 1 year high of $48.24.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. Sell-side analysts forecast that MGM Resorts International will post 2.37 EPS for the current year.

Insider Activity

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the transaction, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.13% of the company’s stock.

Institutional Investors Weigh In On MGM Resorts International

Institutional investors have recently added to or reduced their stakes in the company. CWM LLC lifted its stake in shares of MGM Resorts International by 8.4% during the 3rd quarter. CWM LLC now owns 10,984 shares of the company’s stock valued at $429,000 after buying an additional 854 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in MGM Resorts International by 540.5% in the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,607 shares of the company’s stock worth $102,000 after buying an additional 2,200 shares in the last quarter. Creative Planning increased its stake in MGM Resorts International by 8.4% in the third quarter. Creative Planning now owns 77,682 shares of the company’s stock valued at $3,037,000 after acquiring an additional 6,040 shares during the last quarter. Vontobel Holding Ltd. increased its position in shares of MGM Resorts International by 37.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 20,426 shares of the company’s stock valued at $798,000 after purchasing an additional 5,611 shares during the last quarter. Finally, nVerses Capital LLC raised its stake in shares of MGM Resorts International by 233.3% during the third quarter. nVerses Capital LLC now owns 21,000 shares of the company’s stock worth $821,000 after acquiring an additional 14,700 shares in the last quarter. 68.11% of the stock is owned by institutional investors.

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.