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MGM Resorts International (MGM) gets rating Upgrade from Susquehanna

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In a filing, MGM Resorts International revealed its Director Meister Keith A. unloaded Company’s shares for reported $4.3 million on Mar 13 ’24. In the deal valued at $42.98 per share,100,000 shares were sold. As a result of this transaction, Meister Keith A. now holds 5,998,778 shares worth roughly $245.53 million.

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Then, Meister Keith A. sold 325,000 shares, generating $13,942,500 in total proceeds. Upon selling the shares at $42.90, the Director now owns 6,098,778 shares.

Before that, SANDERS COREY IAN sold 30,000 shares. MGM Resorts International shares valued at $1,344,582 were divested by the CHIEF OPERATING OFFICER at a price of $44.82 per share. As a result of the transaction, SANDERS COREY IAN now holds 227,674 shares, worth roughly $9.32 million.

Susquehanna upgraded its MGM Resorts International [MGM] rating to a Positive from a a Neutral in a research note published recently. A number of analysts have revised their coverage, including Seaport Research Partners’s analysts, who began to cover the stock in mid April with a ‘”a Buy”‘ rating. Mizuho began covering MGM with “Buy” recommendation on March 26, 2024. HSBC Securities started covering the stock on October 23, 2023. It rated MGM as “a Buy”.

Price Performance Review of MGM

On Monday, MGM Resorts International [NYSE:MGM] saw its stock jump 0.89% to $40.93. Over the last five days, the stock has lost -0.20%. MGM Resorts International shares have fallen nearly -8.39% since the year began. Nevertheless, the stocks have fallen -3.74% over the past one year. While a 52-week high of $51.35 was reached on 04/01/24, a 52-week low of $34.12 was recorded on 05/01/24. SMA at 50 days reached $43.21, while 200 days put it at $41.98. A total of 2.7 million shares were traded, compared to the trading of 2.04 million shares in the previous session.

Levels Of Support And Resistance For MGM Stock

The 24-hour chart illustrates a support level at 40.62, which if violated will result in even more drops to 40.31. On the upside, there is a resistance level at 41.28. A further resistance level may holdings at 41.64. The Relative Strength Index (RSI) on the 14-day chart is 43.18, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.13, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 52.88%. Stochastics %K at 44.10% indicates the stock is a holding.

The most recent change occurred on October 12, 2023 when CapitalOne began covering the stock and recommended ‘”an Overweight”‘ rating along with a $50 price target.

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