MGM Resorts International’s filing revealed that its Director Meister Keith A. unloaded Company’s shares for reported $1.87 million on Dec 13 ’24. In the deal valued at $36.57 per share,51,000 shares were sold. As a result of this transaction, Meister Keith A. now holds 5,687,478 shares worth roughly $194.23 million.
Then, Corvex Management LP bought 51,000 shares, generating $1,866,600 in total proceeds.
Before that, Meister Keith A. sold 121,000 shares. MGM Resorts International shares valued at $4,443,249 were divested by the Director at a price of $36.72 per share. As a result of the transaction, Meister Keith A. now holds 5,738,478 shares, worth roughly $195.97 million.
BTIG Research downgraded its MGM Resorts International [MGM] rating to a Neutral from a a Buy in a research note published recently. A number of analysts have revised their coverage, including BTIG Research’s analysts, who began to cover the stock in early July with a ‘”a Buy”‘ rating. Susquehanna also remained covering MGM and has increased its forecast on May 02, 2024 with a “Positive” recommendation from previously “Neutral” rating. Seaport Research Partners started covering the stock on April 15, 2024. It rated MGM as “a Buy”.
Price Performance Review of MGM
On Monday, MGM Resorts International [NYSE:MGM] saw its stock fall -0.96% to $34.15. Over the last five days, the stock has gained 1.76%. MGM Resorts International shares have fallen nearly -1.44% since the year began. Nevertheless, the stocks have fallen -21.26% over the past one year. While a 52-week high of $48.24 was reached on 01/02/25, a 52-week low of $31.61 was recorded on 01/13/25. SMA at 50 days reached $35.04, while 200 days put it at $38.70.
Levels Of Support And Resistance For MGM Stock
The 24-hour chart illustrates a support level at 33.03, which if violated will result in even more drops to 31.92. On the upside, there is a resistance level at 34.90. A further resistance level may holdings at 35.65. The Relative Strength Index (RSI) on the 14-day chart is 51.54, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.93, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 30.15%. Stochastics %K at 79.58% 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 2025-01-15, dropping by -0.96 million shares to a total of 15.8 million shares. Yahoo Finance data shows the prior-month short interest on 2024-12-13 was 16.77 million shares. There was a decline of -6.09%, which implies that there is a negative sentiment for the stock.
The most recent change occurred on March 26, 2024 when Mizuho began covering the stock and recommended ‘”a Buy”‘ rating along with a $61 price target.
