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

MGM Resorts International (NYSE:MGM)’s stock price reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $30.68 and last traded at $30.81, with a volume of 1674514 shares trading hands. The stock had previously closed at $31.29.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Argus upgraded MGM Resorts International from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a report on Friday, February 14th. JMP Securities reissued a “market outperform” rating and issued a $50.00 price objective on shares of MGM Resorts International in a research report on Thursday, February 13th. Needham & Company LLC restated a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Stifel Nicolaus boosted 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. Finally, Mizuho raised their price target on MGM Resorts International from $56.00 to $60.00 and gave the company an “outperform” rating in a research note 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.29.

MGM Resorts International Trading Down 1.0 %

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 stock has a market capitalization of $8.85 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 0.98 and a beta of 2.18. The business’s 50-day moving average is $34.28 and its two-hundred day moving average is $36.38.

MGM Resorts International (NYSE:MGM) last issued its earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share 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 anticipate that MGM Resorts International will post 2.21 earnings per share for the current year.

Insider Activity at MGM Resorts International

In related news, CAO Todd Meinert sold 6,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total transaction of $227,040.00. Following the sale, the chief accounting officer now owns 18,301 shares of the company’s stock, valued at $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, 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 disclosure for this sale can be found here. 2.13% of the stock is owned by corporate insiders.

Institutional Trading of MGM Resorts International

Hedge funds have recently bought and sold shares of the company. Janney Montgomery Scott LLC lifted its stake in shares of MGM Resorts International by 4.8% during the 3rd quarter. Janney Montgomery Scott LLC now owns 71,021 shares of the company’s stock worth $2,776,000 after purchasing an additional 3,285 shares during the period. Atria Investments Inc boosted its stake in MGM Resorts International by 3.6% in the 3rd quarter. Atria Investments Inc now owns 37,238 shares of the company’s stock worth $1,456,000 after buying an additional 1,300 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in MGM Resorts International by 52.7% in the 3rd quarter. Venturi Wealth Management LLC now owns 3,754 shares of the company’s stock valued at $147,000 after buying an additional 1,295 shares during the period. Apollon Wealth Management LLC increased its stake in shares of MGM Resorts International by 6.6% during the 3rd quarter. Apollon Wealth Management LLC now owns 10,997 shares of the company’s stock valued at $430,000 after acquiring an additional 681 shares during the last quarter. Finally, Entropy Technologies LP increased its stake in shares of MGM Resorts International by 156.9% during the 3rd quarter. Entropy Technologies LP now owns 55,311 shares of the company’s stock valued at $2,162,000 after acquiring an additional 33,777 shares during the last quarter. 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.