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

MGM Resorts International (NYSE:MGM) shares reached a new 52-week low on Monday . The company traded as low as $25.53 and last traded at $26.54, with a volume of 2500086 shares. The stock had previously closed at $26.86.

Analyst Ratings Changes

A number of research analysts have commented on MGM shares. Capital One Financial raised 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. Mizuho boosted 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. Stifel Nicolaus boosted their target price on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Needham & Company LLC reissued a “buy” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Macquarie reaffirmed an “outperform” rating and set a $50.00 price objective on shares of MGM Resorts International in a research note on Thursday, February 13th. Six investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, MGM Resorts International has an average rating of “Moderate Buy” and an average price target of $51.29.

MGM Resorts International Stock Down 2.2 %

The stock has a market capitalization of $7.44 billion, a P/E ratio of 10.95, a PEG ratio of 0.98 and a beta of 1.96. 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’s 50-day simple moving average is $33.36 and its 200 day simple moving average is $35.60.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) 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%. As a group, research analysts expect that MGM Resorts International will post 2.21 EPS for the current year.

Insider Buying and Selling at MGM Resorts International

In related news, CAO Todd Meinert sold 6,000 shares of the company’s stock in a transaction dated 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 in the company, valued at $692,509.84. This represents a 24.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jonathan S. Halkyard bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average cost 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 of the company’s stock, valued at $2,433,596.16. This represents a 15.23 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.13% of the company’s stock.

Hedge Funds Weigh In On MGM Resorts International

Several large investors have recently bought and sold shares of the stock. Global Trust Asset Management LLC purchased a new position in MGM Resorts International in the fourth quarter valued at about $28,000. Assetmark Inc. grew its stake in MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after acquiring an additional 411 shares in the last quarter. Mascagni Wealth Management Inc. purchased a new stake in shares of MGM Resorts International in the fourth quarter worth $28,000. True Wealth Design LLC bought a new stake in shares of MGM Resorts International during the 4th quarter valued at about $33,000. Finally, Global Retirement Partners LLC grew its stake in MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after buying an additional 404 shares in the last quarter. 68.11% of the stock is currently owned by 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.