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Tuesday, March 21, 2023

Are Things Looking Up For MGM Resorts International (NYSE: MGM)?

After Hours

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. After-hours trades for MGM Resorts International (MGM) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.18, or 0.40%, to $45.00. The MGM Resorts International has recorded 25,467 volume in the after hours trading session. Yahoo Finance discussed the stock recently as it posted BETMGM NAMED AN OFFICIAL SPORTS BETTING PARTNER OF BOSTON RED SOX.

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Stocks Info

The company is listed on the NYSE and operates within the Resorts & Casinos industry segment. At the end of the last regular session, the stock closed at $44.82 and fluctuated between $45.61 as its day high and $44.67 as its day low. The current market capitalization of MGM Resorts International is $16.53B. A total of 2.93 million shares were traded on the day, compared to an average of 4.13M shares.

Insider Activity

Furthermore, investors take into consideration insider trades when predicting a stock’s future trajectory. During the recent three months, MGM has seen 1 BUY and 7 SELL insider trades, representing the acquisition of 7,691 and the disposition of 251,961 shares. Over the last 12 months, there were 43 BUYs and 46 SELLs from insiders. Insiders purchased 2,178,561 shares during that period but sold 748,396.

In the most recent transaction, Mckinney-James Rose sold 2,870 shares of MGM for 43.23 per share on Mar 01. After the transaction, the Director now owns 0 company shares. In a previous transaction on Feb 17, McManus John sold 20,000 shares at 43.47 per share. MGM shares that CHIEF LEGAL ADMIN OFC AND SECY owns now total 68,175.

Among the insiders who sold shares, HORNBUCKLE WILLIAM disposed of 110,000 shares on Feb 09 at a per-share price of $44.86. This resulted in the CEO AND PRESIDENT holding 172,781 shares of MGM after the transaction. In another insider transaction, SANDERS COREY IAN sold 30,000 shares at $42.00 per share on Feb 01. Company shares held by the CHIEF OPERATING OFFICER now total 201,498.


The dividend paying company demonstrates a positive outlook for investors and helps them generate immediate cash. MGM Resorts International pays an annual dividend of $0.01, resulting in a dividend yield of 0.02%, and it has a price to earnings (P/E) ratio of 13.24. MGM’s most recent ex-dividend date was 12/8/2022 when it declared a $0.0025 quarterly dividend that was paid in cash on 12/15/2022. Previously, the company paid the dividend on 9/15/2022 with an ex-dividend date of 9/8/2022. The MGM stock dividend was $0.0025 per share in cash.

It has been observed that price targets are rarely accurate, but they can exert some influence from time to time, and are often accepted as valuable in the market. According to analysts who have offered 12-month price targets for MGM in the last 3 months, the mean price target is $55.04 with high estimates of $68.00 and low estimates of $42.00. In terms of 52-week highs and lows, MGM has a high of $46.24 and a low of $26.41.

As of this writing, MGM has an earnings estimate of $0.03 per share for the current quarter. EPS was calculated based on a consensus of 9 estimates, with a high estimate of $0.63 per share and a lower estimate of -$0.46. The company reported an EPS of -$1.39 in the last quarter, which was -679.20% lower than expectations of $0.24.

Balance Sheet Annually/Quarterly

An equity investor’s investment can be viewed on a balance sheet by looking at what assets and liabilities the company has. Investors can determine the company’s prospects by calculating its financial ratios based on this information.

Analysts Opinion

There may be slightly higher risks associated with pre-market and after-hours trading than during regular market hours. Due to the fact that issuers often announce critical financial information outside of regular trading hours, extended-hours trading may result in wider spreads for particular securities. Currently, 19 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for MGM is Underweight with a score of 4.33. A total of 12 analysts rated the stock as Buy while 2 rated it as Overweight while 5 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 0 thought it should be Sold.

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