MGM Resorts International (NYSE:MGM - Get Free Report)'s share price reached a new 52-week low on Monday . The company traded as low as $25.53 and last traded at $26.54, with a volume of 2500086 shares. The stock had previously closed at $26.86.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on MGM shares. Barclays reiterated an "equal weight" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Jefferies Financial Group reduced their price target on shares of MGM Resorts International from $52.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, January 3rd. Canaccord Genuity Group restated a "buy" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Wells Fargo & Company upped their target price on MGM Resorts International from $44.00 to $46.00 and gave the stock an "overweight" rating in a report on Thursday, February 13th. Finally, Wedbush restated an "outperform" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, MGM Resorts International presently has an average rating of "Moderate Buy" and a consensus price target of $51.29.
View Our Latest Stock Report on MGM
MGM Resorts International Trading Up 2.2 %
The stock has a market cap of $8.32 billion, a PE ratio of 12.25, a PEG ratio of 0.98 and a beta of 1.96. The stock's fifty day moving average price is $32.64 and its 200 day moving average price is $35.25. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73.
MGM Resorts International (NYSE:MGM - Get Free Report) last posted its earnings results 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 return on equity of 21.08% and a net margin of 4.33%. On average, sell-side analysts forecast that MGM Resorts International will post 2.21 EPS for the current year.
Insider Buying and Selling at MGM Resorts International
In related news, CFO Jonathan S. Halkyard bought 10,000 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the purchase, the chief financial officer now owns 75,648 shares in the company, valued at approximately $2,433,596.16. This represents a 15.23 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Todd Meinert sold 6,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of the transaction, the chief accounting officer now owns 18,301 shares in the company, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.83% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the company. Global Trust Asset Management LLC bought a new position in MGM Resorts International in the fourth quarter worth approximately $28,000. Assetmark Inc. lifted its position in MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company's stock valued at $28,000 after purchasing an additional 411 shares in the last quarter. Mascagni Wealth Management Inc. bought a new stake in MGM Resorts International during the fourth quarter valued at about $28,000. True Wealth Design LLC purchased a new stake in MGM Resorts International in the fourth quarter worth about $33,000. Finally, Global Retirement Partners LLC raised its stake in shares of MGM Resorts International by 47.8% in the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock worth $43,000 after buying an additional 404 shares during the period. Institutional investors own 68.11% of the company's stock.
About MGM Resorts International
(
Get Free Report)
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.
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