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

MGM Resorts International (NYSE:MGM) had its target price boosted by stock analysts at Capital One Financial from $52.00 to $56.00 in a research note issued to investors on Wednesday. The firm currently has an “overweight” rating on the stock. Capital One Financial‘s price objective points to a potential upside of 38.68% from the stock’s current price.

Several other equities analysts also recently commented on MGM. Susquehanna Bancshares increased their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday. JMP Securities restated a “market outperform” rating and issued a $50.00 price target on shares of MGM Resorts International in a research report on Thursday, January 16th. Mizuho decreased their price target on shares of 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. Barclays decreased their price target 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. Finally, Wells Fargo & Company decreased their price target on shares of MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, October 17th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $51.47.

MGM Resorts International Price Performance

Shares of NYSE:MGM opened at $40.38 on Wednesday. The company has a market cap of $12.02 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 2.94 and a beta of 2.20. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The firm has a 50 day simple moving average of $34.32 and a 200 day simple moving average of $36.83. MGM Resorts International has a one year low of $31.61 and a one year high of $48.24.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, beating 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%. Research analysts predict that MGM Resorts International will post 2.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 51,000 shares of the 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 directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.13% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Empower Advisory Group LLC lifted its stake in shares of MGM Resorts International by 4.2% in the third quarter. Empower Advisory Group LLC now owns 1,571,492 shares of the company’s stock valued at $61,430,000 after buying an additional 62,997 shares in the last quarter. Goldentree Asset Management LP lifted its stake in shares of MGM Resorts International by 86.4% in the third quarter. Goldentree Asset Management LP now owns 3,000,000 shares of the company’s stock valued at $117,270,000 after buying an additional 1,390,599 shares in the last quarter. Miracle Mile Advisors LLC bought a new position in shares of MGM Resorts International in the fourth quarter valued at $2,010,000. Assenagon Asset Management S.A. lifted its stake in shares of MGM Resorts International by 80.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company’s stock valued at $12,411,000 after buying an additional 159,522 shares in the last quarter. Finally, Zacks Investment Management lifted its stake in shares of MGM Resorts International by 7.8% in the third quarter. Zacks Investment Management now owns 400,393 shares of the company’s stock valued at $15,651,000 after buying an additional 29,107 shares in the last quarter. 68.11% of the stock is owned by institutional investors.

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.