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

MGM Resorts International (NYSE:MGM)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $33.28 and last traded at $33.44, with a volume of 2043049 shares traded. The stock had previously closed at $33.80.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MGM. Mizuho reduced their price target on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating for the company in a research report on Thursday, October 31st. UBS Group raised MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. JMP Securities decreased their price target on MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating on the stock in a research report on Monday, November 25th. Barclays cut their price objective on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. Finally, Truist Financial reduced their price target on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a research report on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, MGM Resorts International currently has a consensus rating of “Moderate Buy” and a consensus price target of $52.54.

MGM Resorts International Stock Down 1.0 %

The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. The stock has a 50-day moving average of $38.16 and a two-hundred day moving average of $39.31. The company has a market cap of $9.97 billion, a P/E ratio of 11.95, a P/E/G ratio of 3.16 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The business had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. MGM Resorts International’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period last year, the company posted $0.64 EPS. On average, research analysts anticipate that MGM Resorts International will post 2.48 EPS for the current fiscal year.

Insider Activity

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of MGM Resorts International stock in a transaction that occurred on 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 transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.13% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. UMB Bank n.a. grew its holdings in MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock worth $42,000 after acquiring an additional 237 shares during the last quarter. HB Wealth Management LLC lifted its position in shares of MGM Resorts International by 6.3% in the 2nd quarter. HB Wealth Management LLC now owns 4,917 shares of the company’s stock worth $219,000 after purchasing an additional 293 shares during the period. Quent Capital LLC increased its position in shares of MGM Resorts International by 14.6% during the third quarter. Quent Capital LLC now owns 2,383 shares of the company’s stock valued at $93,000 after buying an additional 304 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of MGM Resorts International by 0.6% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company’s stock valued at $2,080,000 after buying an additional 309 shares during the period. Finally, Lazari Capital Management Inc. lifted its holdings in MGM Resorts International by 6.3% in the second quarter. Lazari Capital Management Inc. now owns 5,633 shares of the company’s stock worth $250,000 after buying an additional 333 shares during the period. Institutional investors own 68.11% of the company’s stock.

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.