MGM Resorts International (NYSE:MGM) Sets New 52-Week Low – Should You Sell?

Shares of MGM Resorts International (NYSE:MGM) hit a new 52-week low on Monday . The stock traded as low as $28.63 and last traded at $29.25, with a volume of 738686 shares traded. The stock had previously closed at $30.36.

Wall Street Analysts Forecast Growth

MGM has been the subject of several research analyst reports. Mizuho raised their price target on MGM Resorts International from $56.00 to $60.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Wedbush restated an “outperform” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Capital One Financial lifted their price target on shares of MGM Resorts International from $52.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 12th. Susquehanna Bancshares raised their price objective on shares of MGM Resorts International from $53.00 to $56.00 in a report on Wednesday, February 12th. Finally, Wells Fargo & Company upped their target price on MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a research report on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $51.29.

MGM Resorts International Trading Down 2.7 %

The business’s fifty day moving average price is $33.90 and its 200 day moving average price is $35.94. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The firm has a market capitalization of $8.44 billion, a PE ratio of 12.31, a P/E/G ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data 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, analysts expect that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, CFO Jonathan S. Halkyard bought 10,000 shares of the business’s stock in a transaction on 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 transaction, the chief financial officer now directly owns 75,648 shares in the company, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 transaction of $227,040.00. Following the completion of the sale, the chief accounting officer now 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 disclosure for this sale can be found here. 2.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. increased its stake in shares of MGM Resorts International by 8.9% in the fourth quarter. TD Waterhouse Canada Inc. now owns 3,190 shares of the company’s stock valued at $111,000 after purchasing an additional 261 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in MGM Resorts International by 0.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock valued at $2,080,000 after acquiring an additional 309 shares in the last quarter. Ballentine Partners LLC boosted its position in 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 grew its position in MGM Resorts International by 1.7% in the 4th quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 19,749 shares of the company’s stock valued at $684,000 after buying an additional 333 shares in the last quarter. Finally, Global Retirement Partners LLC boosted 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 valued at $43,000 after purchasing an additional 404 shares in the last quarter. Institutional investors and hedge funds 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.