MGM Resorts International (NYSE:MGM) Sets New 12-Month Low - Should You Sell?

MGM Resorts International (NYSE:MGM - Get Free Report)'s stock price hit a new 52-week low during trading on Monday . The company traded as low as $28.63 and last traded at $29.25, with a volume of 738686 shares changing hands. The stock had previously closed at $30.36.

Wall Street Analysts Forecast Growth

MGM has been the topic of several recent analyst reports. Leerink Partners cut MGM Resorts International to a "market perform" rating in a research report on Thursday, February 13th. Mizuho upped their price objective on MGM Resorts International from $56.00 to $60.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Wells Fargo & Company raised their target price on MGM Resorts International from $44.00 to $46.00 and gave the company an "overweight" rating in a report on Thursday, February 13th. Canaccord Genuity Group reaffirmed a "buy" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Finally, BTIG Research cut shares of MGM Resorts International from a "buy" rating to a "neutral" rating in a research note on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.29.

MGM Resorts International Stock Up 2.9 %

The stock has a market cap of $8.79 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 0.98 and a beta of 2.18. The firm's 50 day moving average is $33.73 and its two-hundred day moving average is $35.82. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73.

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MGM Resorts International (NYSE:MGM - Get Free Report) last announced its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. On average, sell-side analysts predict that MGM Resorts International will post 2.21 EPS for the current year.

Insider Activity

In other MGM Resorts International news, CAO Todd Meinert sold 6,000 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the sale, the chief accounting officer now directly owns 18,301 shares of the company's stock, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the company's stock in a transaction dated Thursday, March 6th. The shares were bought at an average cost of $32.17 per share, with a total value 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. The trade was a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.13% of the company's stock.

Hedge Funds Weigh In On MGM Resorts International

Hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its position in shares of MGM Resorts International by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company's stock worth $79,110,000 after buying an additional 38,749 shares during the period. ACR Alpine Capital Research LLC raised its holdings in shares of MGM Resorts International by 23.3% in the 4th quarter. ACR Alpine Capital Research LLC now owns 161,990 shares of the company's stock worth $5,613,000 after purchasing an additional 30,605 shares during the period. Davis Selected Advisers lifted its stake in shares of MGM Resorts International by 4.6% in the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company's stock valued at $690,253,000 after purchasing an additional 882,417 shares in the last quarter. Miracle Mile Advisors LLC acquired a new position in shares of MGM Resorts International in the 4th quarter valued at about $2,010,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of MGM Resorts International by 80.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 358,186 shares of the company's stock worth $12,411,000 after purchasing an additional 159,522 shares during the period. Institutional investors and hedge funds 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.