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Potential Price Increase for MGM Resorts International (MGM) After Recent Insider Activity

In a filing, MGM Resorts International revealed its Director Meister Keith A. unloaded Company’s shares for reported $5.63 million on Jun 13 ’24. In the deal valued at $40.44 per share,139,300 shares were sold. As a result of this transaction, Meister Keith A. now holds 5,859,478 shares worth roughly $248.03 million.

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Then, TAYLOR DANIEL J sold 4,344 shares, generating $178,192 in total proceeds. Upon selling the shares at $41.02, the Director now owns 0 shares.

Before that, JAMMET MARY CHRIS sold 4,344 shares. MGM Resorts International shares valued at $178,582 were divested by the Director at a price of $41.11 per share. As a result of the transaction, JAMMET MARY CHRIS now holds 5,250 shares, worth roughly $0.22 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 Tuesday, MGM Resorts International [NYSE:MGM] saw its stock fall -1.24% to $42.33. Over the last five days, the stock has gained 0.88%. MGM Resorts International shares have fallen nearly -5.26% since the year began. Nevertheless, the stocks have fallen -3.62% 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 05/29/24. SMA at 50 days reached $40.97, while 200 days put it at $41.37. A total of 3.42 million shares were traded, compared to the trading of 3.26 million shares in the previous session.

Levels Of Support And Resistance For MGM Stock

The 24-hour chart illustrates a support level at 42.04, which if violated will result in even more drops to 41.74. On the upside, there is a resistance level at 42.84. A further resistance level may holdings at 43.35. The Relative Strength Index (RSI) on the 14-day chart is 54.63, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.40, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 40.98%. Stochastics%K at 75.12% 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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