The price of MGM Resorts International (NYSE:MGM) shares last traded on Wall Street rose 0.79% to $39.75.
MGM stock price is now -8.69% away from the 50-day moving average and -6.22% away from the 200-day moving average. The market capitalization of the company currently stands at $12.60B.
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With the price target of $56, Seaport Research Partners recently initiated with Buy rating for MGM Resorts International (NYSE: MGM). On March 26, 2024, Mizuho recently initiated its ‘Buy’ rating on the stock quoting a target price of $61, while ‘HSBC Securities’ rates the stock as ‘Buy’
In other news, Meister Keith A., Director sold 100,000 shares of the company’s stock on Mar 13 ’24. The stock was sold for $4,298,000 at an average price of $42.98. Upon completion of the transaction, the Director now directly owns 5,998,778 shares in the company, valued at $238.45 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Mar 12 ’24, Director Meister Keith A. sold 325,000 shares of the business’s stock. A total of $13,942,500 was realized by selling the stock at an average price of $42.90. This leaves the insider owning 6,098,778 shares of the company worth $242.43 million. A total of 21.23% of the company’s stock is owned by insiders.
During the past 12 months, MGM Resorts International has had a low of $34.12 and a high of $51.35. As of last week, the company has a debt-to-equity ratio of 8.30, a current ratio of 1.57, and a quick ratio of 1.53.
According to the Resorts & Casinos Company, earnings per share came in at 0.44, beating analysts’ expectations of 0.1 by 0.34. This compares to -$0.57 EPS in the same period last year. The net profit margin was 7.07% and return on equity was 26.46% for MGM. The company reported revenue of $4.38 billion for the quarter, compared to $3.59 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 21.81 percent. For the current quarter, analysts expect MGM to generate $4.24B in revenue.
