Stocks of MGM Resorts International (NYSE:MGM) traded higher last session on Wall Street, up 2.59% to $39.62.
MGM stock price is now 4.17% away from the 50-day moving average and -5.20% away from the 200-day moving average. The market capitalization of the company currently stands at $12.04B.
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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, Meister Keith A., Director sold 121,000 shares of the company’s stock on Sep 13 ’24. The stock was sold for $4,443,249 at an average price of $36.72. Upon completion of the transaction, the Director now directly owns 5,738,478 shares in the company, valued at $227.36 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Sep 13 ’24, Affiliate of Director (1) Corvex Management LP bought 121,000 shares of the business’s stock. A total of $4,231,370 was incurred on buying the stock at an average price of $34.97. A total of 22.25% 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 $37.9516 and a two-hundred day moving average price translates $41.7681 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.
