Stocks of MGM Resorts International (NYSE:MGM) traded higher last session on Wall Street, down -0.21% to $38.08.
MGM stock price is now -8.36% away from the 50-day moving average and -9.48% away from the 200-day moving average. The market capitalization of the company currently stands at $11.57B.
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With the price target of $52, BTIG Research recently initiated with Buy rating for MGM Resorts International (NYSE: MGM). On May 02, 2024, Susquehanna Upgraded its previous ‘Neutral’ rating to ‘Positive’ on the stock keeping its target price maintained at $54, while ‘Seaport Research Partners’ rates the stock as ‘Buy’
In other news, SALEM PAUL J, Director bought 147,500 shares of the company’s stock on Aug 05 ’24. The stock was bought for $4,986,090 at an average price of $33.80. Upon completion of the transaction, the Director now directly owns 1,702,500 shares in the company, valued at $64.83 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 05 ’24, CEO AND PRESIDENT HORNBUCKLE WILLIAM bought 58,900 shares of the business’s stock. A total of $1,986,444 was incurred on buying the stock at an average price of $33.73. This leaves the insider owning 377,112 shares of the company worth $14.36 million. A total of 21.53% of the company’s stock is owned by insiders.
During the past 12 months, MGM Resorts International has had a low of $33.44 and a high of $48.24. As of last week, the company has a debt-to-equity ratio of 9.88, a current ratio of 1.47, and a quick ratio of 1.42. The fifty day moving average price for MGM is $41.5094 and a two-hundred day moving average price translates $42.08545 for the stock.
The latest earnings results from MGM Resorts International (NYSE: MGM) was released for 2024-06-30. The net profit margin was 5.15% and return on equity was 23.05% for MGM. The company reported revenue of $4.33 billion for the quarter, compared to $3.94 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 9.77 percent.
