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

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

Analyst Upgrades and Downgrades

MGM has been the topic of a number of recent research reports. Mizuho raised their price objective 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. Canaccord Genuity Group reaffirmed a “buy” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Wells Fargo & Company increased their price objective on MGM Resorts International from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, February 13th. Needham & Company LLC reaffirmed a “buy” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Finally, Stifel Nicolaus increased their price target on shares of MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $51.29.

MGM Resorts International Stock Performance

The stock has a market capitalization of $7.44 billion, a P/E ratio of 10.95, a P/E/G ratio of 0.98 and a beta of 1.96. The business has a fifty day moving average price of $33.36 and a 200-day moving average price of $35.60. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73.

MGM Resorts International (NYSE:MGM) last released its quarterly 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 return on equity of 21.08% and a net margin of 4.33%. On average, sell-side analysts expect that MGM Resorts International will post 2.21 EPS for the current year.

Insider Activity at MGM Resorts International

In related news, CFO Jonathan S. Halkyard bought 10,000 shares of the stock in a transaction dated Thursday, March 6th. The shares were purchased at an average price of $32.17 per share, with a total value of $321,700.00. Following the completion of the acquisition, 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. 2.13% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MGM. Global Trust Asset Management LLC bought a new stake in MGM Resorts International during the fourth quarter worth approximately $28,000. Assetmark Inc. lifted its stake in 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 purchasing an additional 411 shares during the last quarter. Mascagni Wealth Management Inc. purchased a new position in shares of MGM Resorts International during the fourth quarter valued at approximately $28,000. True Wealth Design LLC purchased a new position in MGM Resorts International during the 4th quarter valued at $33,000. Finally, Global Retirement Partners LLC increased its stake in MGM Resorts International by 47.8% in 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. 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.