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

MGM Resorts International (NYSE:MGM) had its price objective decreased by Capital One Financial from $47.00 to $46.00 in a research report released on Friday morning,MarketScreener reports. Capital One Financial currently has an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of MGM Resorts International from $54.00 to $53.00 in a report on Monday, September 22nd. Truist Financial lowered their price objective on shares of MGM Resorts International from $48.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Stifel Nicolaus set a $45.00 price objective on MGM Resorts International in a report on Thursday, October 30th. Zacks Research lowered MGM Resorts International from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 4th. Finally, Wells Fargo & Company began coverage on MGM Resorts International in a report on Tuesday, November 18th. They issued an “underweight” rating and a $29.00 target price on the stock. Thirteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, MGM Resorts International presently has a consensus rating of “Hold” and an average price target of $45.42.

MGM Resorts International Stock Performance

MGM Resorts International stock opened at $36.08 on Friday. The stock has a fifty day moving average price of $33.00 and a 200 day moving average price of $34.66. MGM Resorts International has a 52 week low of $25.30 and a 52 week high of $41.32. The firm has a market capitalization of $9.87 billion, a P/E ratio of 225.51, a PEG ratio of 2.67 and a beta of 1.48. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 1.80.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $4.25 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the previous year, the business posted $0.54 earnings per share. The firm’s quarterly revenue was up 1.6% on a year-over-year basis. Equities research analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current year.

Insider Activity

In other MGM Resorts International news, insider John Mcmanus sold 60,000 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $36.12, for a total transaction of $2,167,200.00. Following the transaction, the insider owned 31,521 shares in the company, valued at $1,138,538.52. The trade was a 65.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Keith A. Meister sold 242,000 shares of the stock in a transaction dated Thursday, September 11th. The shares were 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 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 SEC filing for this sale provides additional information. Company insiders own 3.06% of the company’s stock.

Institutional Inflows and Outflows

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