MGM Resorts International (NYSE:MGM) Hits New 1-Year Low – Time to Sell?

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

Analysts Set New Price Targets

MGM has been the topic of a number of analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Leerink Partners downgraded shares of MGM Resorts International to a “market perform” rating in a report on Thursday, February 13th. Susquehanna Bancshares upped their price target on shares of MGM Resorts International from $53.00 to $56.00 in a research report on Wednesday, February 12th. Morgan Stanley raised their price objective on shares of MGM Resorts International from $39.00 to $41.00 and gave the company an “equal weight” rating in a research report on Monday, February 24th. Finally, Citigroup upped their target price on shares of MGM Resorts International from $48.00 to $50.00 and gave the stock a “buy” rating 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. According to data from MarketBeat.com, MGM Resorts International presently has a consensus rating of “Moderate Buy” and an average price target of $51.29.

MGM Resorts International Price Performance

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 has a fifty day simple moving average of $34.60 and a two-hundred day simple moving average of $36.69. The firm has a market cap of $9.29 billion, a PE ratio of 13.56, a PEG ratio of 0.98 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share for the quarter, topping 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%. Equities analysts predict that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insider Activity

In related news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the transaction, the director now owns 5,687,478 shares in the company, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Todd Meinert sold 6,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $37.84, for a total value of $227,040.00. Following the sale, the chief accounting officer now owns 18,301 shares in the company, valued at approximately $692,509.84. This trade represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of MGM Resorts International in the third quarter valued at $28,000. Global Trust Asset Management LLC bought a new position in MGM Resorts International during the 4th quarter valued at about $28,000. Assetmark Inc. raised its position in MGM Resorts International by 104.1% in the 4th quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after purchasing an additional 411 shares during the period. True Wealth Design LLC bought a new stake in MGM Resorts International in the fourth quarter worth about $33,000. Finally, Global Retirement Partners LLC boosted its position in shares of MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock valued at $43,000 after buying an additional 404 shares during the period. 68.11% of the stock is owned by hedge funds and other institutional investors.

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.