Capital One Financial Has Lowered Expectations for MGM Resorts International (NYSE:MGM) Stock Price

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

Several other research analysts have also recently weighed in on the stock. Macquarie reduced their price target on shares of MGM Resorts International from $48.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, October 2nd. Stifel Nicolaus set a $45.00 target price on MGM Resorts International in a report on Thursday, October 30th. Morgan Stanley boosted their price target on MGM Resorts International from $41.00 to $43.00 and gave the company an “equal weight” rating in a report on Thursday, September 11th. Citigroup reduced their price objective on MGM Resorts International from $51.00 to $47.50 and set a “buy” rating for the company in a research report on Thursday, October 30th. Finally, Argus dropped their target price on MGM Resorts International from $45.00 to $40.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. Thirteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $45.42.

MGM Resorts International Stock Performance

MGM stock opened at $36.08 on Friday. MGM Resorts International has a 1-year low of $25.30 and a 1-year high of $41.32. The company has a current ratio of 1.23, a quick ratio of 1.19 and a debt-to-equity ratio of 1.80. The firm has a market cap of $9.87 billion, a PE ratio of 225.51, a P/E/G ratio of 2.62 and a beta of 1.48. The business’s 50-day moving average price is $33.00 and its two-hundred day moving average price is $34.63.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, October 29th. The company reported $0.24 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 for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the business earned $0.54 EPS. The company’s revenue for the quarter was up 1.6% compared to the same quarter last year. As a group, research analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Keith A. Meister sold 242,000 shares of MGM Resorts International stock in a transaction that occurred on 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 transaction, the director directly owned 5,385,478 shares of the company’s stock, valued at $190,753,630.76. This trade represents a 4.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider John Mcmanus sold 60,000 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The shares were 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 of the company’s stock, valued at approximately $1,138,538.52. This represents a 65.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 3.06% of the stock is currently owned by insiders.

Hedge Funds Weigh In On MGM Resorts International

Several hedge funds and other institutional investors have recently modified their holdings of the business. CYBER HORNET ETFs LLC bought a new position in MGM Resorts International in the second quarter valued at about $25,000. Mendota Financial Group LLC acquired a new position in MGM Resorts International during the 3rd quarter worth approximately $27,000. Mather Group LLC. acquired a new stake in MGM Resorts International in the third quarter valued at approximately $33,000. Bayforest Capital Ltd bought a new stake in shares of MGM Resorts International during the first quarter worth $43,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of MGM Resorts International by 66.9% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 1,320 shares of the company’s stock worth $45,000 after buying an additional 529 shares in the last quarter. Institutional investors 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.