MGM Resorts International (NYSE:MGM) Hits New 52-Week Low – Time to Sell?

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on MGM shares. Canaccord Genuity Group reiterated a “buy” rating on shares of MGM Resorts International in a report 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 report on Wednesday, February 12th. Wells Fargo & Company lifted their price target on shares of MGM Resorts International from $44.00 to $46.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. JMP Securities reissued a “market outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, February 13th. Finally, Macquarie reissued an “outperform” rating and issued a $50.00 target price on shares of MGM Resorts International in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, MGM Resorts International has a consensus rating of “Moderate Buy” and an average target price of $51.29.

MGM Resorts International Trading Up 5.4 %

The business’s 50-day moving average price is $34.14 and its 200 day moving average price is $36.30. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.30 and a quick ratio of 1.26. The firm has a market capitalization of $9.07 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 0.98 and a beta of 2.18.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 12th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. On average, equities analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Insider Transactions at MGM Resorts International

In related news, CFO Jonathan S. Halkyard purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the purchase, the chief financial officer now owns 75,648 shares in the company, valued at approximately $2,433,596.16. This represents a 15.23 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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. Corporate insiders own 2.13% of the company’s stock.

Institutional Trading of MGM Resorts International

Hedge funds and other institutional investors have recently made changes to their positions in the stock. MidAtlantic Capital Management Inc. bought a new stake in shares of MGM Resorts International in the third quarter worth $28,000. Global Trust Asset Management LLC bought a new stake in shares of MGM Resorts International in the fourth quarter worth $28,000. Assetmark Inc. increased its stake in shares of MGM Resorts International by 104.1% in the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock worth $28,000 after buying an additional 411 shares during the last quarter. True Wealth Design LLC bought a new stake in MGM Resorts International during the fourth quarter valued at $33,000. Finally, Global Retirement Partners LLC raised its holdings 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 worth $43,000 after purchasing an additional 404 shares during the period. 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.