MGM Resorts International (NYSE:MGM) enjoyed a 29.17% run-up in share price since hitting record low of $21.61. The stock managed 0.79% rise and now stands at $27.92 as of 6/24/2019. At a recent session, the prices were hovering between $27.69 and $28.575. This company shares are 18.3% off its target price of $33.03 and the current market capitalization stands at $15.17B. The recent change has given its price a 5.2% lead over SMA 50 and -11.81% deficit over its 52-week high. The stock witnessed 10.05% gains, 8.43% gains and 18.71% gains for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found MGM’s volatility during a week at 2.66% and during a month it has been found around 2.65%.
What Does MGM Resorts International (MGM) Do?
The company describes itself in regulatory filings as, “MGM Resorts International is a holding company, which engages in the ownership and operations of casino resorts. The firm’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities. It operates through the following business segments: Las Vegas Strip Resorts, Regional Operations and MGM China. The Las Vegas Strip Resorts segment consists of the following casino resorts: Bellagio, MGM Grand Las Vegas, Mandalay Bay, The Mirage, Luxor, New York-New, Excalibur, Park MGM, and Circus Las Vegas. The Regional Operations segment consists of the following casino resorts: MGM Grand Detroit in Detroit, Michigan; Beau Rivage in Biloxi, Mississippi; Gold Strike Tunica in Tunica, Mississippi; Borgata in Atlantic City, New Jersey; MGM National Harbor in Prince George’s County, Maryland; and MGM Springfield in Springfield, Massachusetts. The MGM China segment consists of MGM Macau and MGM Cotai. The company was founded by Kerkor Kerkorian on January 29, 1986 and is headquartered in Las Vegas, NV.” [Text can be found here: https://www.marketwatch.com/investing/stock/MGM/profile under company description.]MGM Resorts International 13F Filings
At the end of recent reporting period, 262 institutional holders increased their position in MGM Resorts International (NYSE:MGM) by some 54,857,867 shares, 183 decreased positions by 54,225,049 and 78 held positions by 325,525,107. That puts total institutional holdings at 434,608,023 shares, according to SEC filings. The stock grabbed 84 new institutional investments totaling 13,355,625 shares while 49 institutional investors sold out their entire positions totaling 6,652,409 shares.
Multiple company employees have indulged in significant insider trading. MGM Resorts International disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Director Meister Keith A. has acquired 338,374 shares of MGM Resorts International (MGM) in the trading session dated Jun. 20, 2019. These shares are worth $9,420,332 and were traded at $27.84 each. The SEC filing shows that Meister Keith A. performed a purchase of 431,850 shares. The Director added these shares by way of transaction on Jun. 17, 2019. The company’s shares were assimilated at $27.73 per share worth to an investment of some $11,975,201 to the account of Meister Keith A..
Director, Meister Keith A., purchased 636,335 common shares of MGM Resorts International (MGM) in the open market. In a transaction dated Jun. 12, 2019, the shares were bought at an average price of $27.76, giving away a sum of $17,664,660. After this purchase, 19,203,685 common shares of MGM are directly owned by the insider, with total stake valued at $536,166,885.
In the transaction dated Jun. 07, 2019, a great number of shares acquired came courtesy the Director; Meister Keith A. added a total of 2,874,578 shares at an average price of $26.18, amounting to approximately $75,256,452. The insider now directly owns 18,567,350 shares worth $518,400,412.MGM Resorts International (MGM) Analyst Guide
Several analysts have released their opinion on MGM Resorts International (NYSE:MGM), with 5 analysts believing it is a strong buy. Whereas 7 of them predict the stock is a hold. Also, there are 6 buy, 0 sell and 0 strong sell ratings, collectively assigning a 2.11 average brokerage recommendation [T1].