Shares of MGM Resorts International (NYSE:MGM - Get Free Report) hit a new 52-week low during trading on Tuesday . The company traded as low as $31.60 and last traded at $31.71, with a volume of 1721818 shares trading hands. The stock had previously closed at $33.19.
Analyst Ratings Changes
MGM has been the subject of a number of research reports. Stifel Nicolaus raised their target price on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Canaccord Genuity Group restated a "buy" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Wedbush restated an "outperform" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Jefferies Financial Group cut their target price on shares of MGM Resorts International from $52.00 to $50.00 and set a "buy" rating for the company in a research note on Friday, January 3rd. Finally, Truist Financial cut their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a "buy" rating for the company in a research note on Tuesday, January 14th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, MGM Resorts International currently has an average rating of "Moderate Buy" and an average target price of $51.29.
View Our Latest Research Report on MGM
MGM Resorts International Stock Up 1.3 %
The company has a market capitalization of $9.15 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. The firm's fifty day moving average is $34.40 and its 200-day moving average is $36.48.
MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. As a group, equities research analysts predict that MGM Resorts International will post 2.21 EPS for the current year.
Insider Activity at MGM Resorts International
In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the business's stock in a transaction that occurred 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 sale, the director now directly owns 5,687,478 shares of the company's stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Jonathan S. Halkyard bought 10,000 shares of MGM Resorts International stock in a transaction on Thursday, March 6th. The shares were acquired at an average cost of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the acquisition, the chief financial officer now directly 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. 2.83% of the stock is currently owned by insiders.
Institutional Investors Weigh In On MGM Resorts International
A number of institutional investors have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in MGM Resorts International during the 4th quarter worth approximately $5,343,000. Jefferies Financial Group Inc. acquired a new position in shares of MGM Resorts International in the 4th quarter worth approximately $2,079,000. Ameriflex Group Inc. acquired a new position in shares of MGM Resorts International in the 4th quarter worth approximately $484,000. Neo Ivy Capital Management acquired a new position in shares of MGM Resorts International in the 4th quarter worth approximately $3,715,000. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of MGM Resorts International in the 4th quarter worth approximately $115,000. 68.11% of the stock is owned by institutional investors.
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.
See Also
Before you consider MGM Resorts International, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MGM Resorts International wasn't on the list.
While MGM Resorts International currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
