MGM Resorts International’s filing revealed that its Director Meister Keith A. unloaded Company’s shares for reported $4.44 million on Sep 13 ’24. In the deal valued at $36.72 per share,121,000 shares were sold. As a result of this transaction, Meister Keith A. now holds 5,738,478 shares worth roughly $215.48 million.
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Then, Corvex Management LP bought 121,000 shares, generating $4,231,370 in total proceeds.
Before that, SALEM PAUL J bought 147,500 shares. MGM Resorts International shares valued at $4,986,090 were divested by the Director at a price of $33.80 per share. As a result of the transaction, SALEM PAUL J now holds 1,702,500 shares, worth roughly $63.93 million.
BTIG Research initiated its MGM Resorts International [MGM] rating to a Buy in a research note published on July 03, 2024; the price target was $52. A number of analysts have revised their coverage, including Susquehanna’s analysts, who increased its forecast for the stock in early May from “a Neutral” to “a Positive”. Seaport Research Partners began covering MGM with “Buy” recommendation on April 15, 2024. Mizuho started covering the stock on March 26, 2024. It rated MGM as “a Buy”.
Price Performance Review of MGM
On Tuesday, MGM Resorts International [NYSE:MGM] saw its stock fall -1.98% to $37.55. Over the last five days, the stock has gained 0.75%. MGM Resorts International shares have fallen nearly -15.96% since the year began. Nevertheless, the stocks have fallen -6.24% over the past one year. While a 52-week high of $48.24 was reached on 04/01/24, a 52-week low of $33.44 was recorded on 08/05/24. SMA at 50 days reached $38.68, while 200 days put it at $40.74.
Levels Of Support And Resistance For MGM Stock
The 24-hour chart illustrates a support level at 37.20, which if violated will result in even more drops to 36.84. On the upside, there is a resistance level at 38.05. A further resistance level may holdings at 38.54. The Relative Strength Index (RSI) on the 14-day chart is 46.58, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.44, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 36.49%. Stochastics %K at 75.87% indicates the stock is a holding.
How much short interest is there in MGM Resorts International?
A steep rise in short interest was recorded in MGM Resorts International stocks on 2024-11-15, dropping by -1.45 million shares to a total of 13.76 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-15 was 15.21 million shares. There was a decline of -10.52%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on October 23, 2023 when HSBC Securities began covering the stock and recommended ‘”a Buy”‘ rating along with a $49 price target.
