MGM Resorts International (NYSE:MGM) Sets New 12-Month Low - Time to Sell?

MGM Resorts International (NYSE:MGM - Get Free Report) shares reached a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $31.60 and last traded at $31.71, with a volume of 1721818 shares changing hands. The stock had previously closed at $33.19.

Analyst Upgrades and Downgrades

MGM has been the topic of several recent analyst reports. Susquehanna Bancshares upped their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. BTIG Research downgraded shares of MGM Resorts International from a "buy" rating to a "neutral" rating in a report on Monday, February 3rd. Stifel Nicolaus increased their price target on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Wedbush reiterated an "outperform" rating on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Macquarie reiterated an "outperform" rating and issued a $50.00 price target on shares of MGM Resorts International in a report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, MGM Resorts International presently has an average rating of "Moderate Buy" and an average target price of $51.29.

MGM Resorts International Stock Up 1.3 %

The stock has a market cap of $9.15 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The business has a 50-day moving average price of $34.45 and a 200-day moving average price of $36.58.

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MGM Resorts International (NYSE:MGM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, beating 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%. As a group, analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current year.

Insider Buying and Selling at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction on Friday, December 13th. The stock was sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the transaction, the director now owns 5,687,478 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of MGM Resorts International 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 transaction, the chief accounting officer now owns 18,301 shares in the company, valued at approximately $692,509.84. This represents a 24.69 % decrease in their position. The disclosure for this sale can be found here. 2.83% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. TD Waterhouse Canada Inc. raised its holdings in shares of MGM Resorts International by 8.9% during the 4th quarter. TD Waterhouse Canada Inc. now owns 3,190 shares of the company's stock worth $111,000 after acquiring an additional 261 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of MGM Resorts International by 0.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company's stock worth $2,080,000 after acquiring an additional 309 shares during the period. Ballentine Partners LLC raised its holdings in shares of MGM Resorts International by 5.4% during the 4th quarter. Ballentine Partners LLC now owns 6,553 shares of the company's stock worth $227,000 after acquiring an additional 333 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its holdings in shares of MGM Resorts International by 1.7% during the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company's stock worth $684,000 after acquiring an additional 333 shares during the period. Finally, Global Retirement Partners LLC increased its position in shares of MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock worth $43,000 after purchasing an additional 404 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.

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.