Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. MGM Resorts International shares valued at $1,865,070 were sold by Meister Keith A. on Dec 13 ’24. At $36.57 per share, Meister Keith A. sold 51,000 shares. The insider’s holdings dropped to 5,687,478 shares worth approximately $218.06 million following the completion of this transaction.
Also, Corvex Management LP purchased 51,000 shares, netting a total of over 1,866,600 in proceeds.
Before that, Meister Keith A. had sold 121,000 shares from its account. In a trade valued at $4,443,249, the Director traded MGM Resorts International shares for $36.72 each. Upon closing the transaction, the insider’s holdings decreased to 121,000 shares, worth approximately $220.01 million.
As published in a research note from Argus on February 14, 2025, MGM Resorts International [MGM] has been rated up from a Hold to a Buy and the price target has been revised to $50. Analysts at BTIG Research downgraded the stock from ‘”a Buy”‘ to ‘”a Neutral”‘ outlook in a report released in early February. As of July 03, 2024, BTIG Research has initiated its “Buy” rating for MGM. Earlier on May 02, 2024, Susquehanna upgraded its rating. Their new recommendation was “a Positive” for MGM stock which previously was a “a Neutral”.
Analyzing MGM Stock Performance
During the last five days, there has been a surge of approximately 11.88%. Over the course of the year, MGM Resorts International shares have jumped approximately 10.65%. Shares of the company reached a 52-week high of $41.32 on 02/14/25 and a 52-week low of $31.61 on 01/13/25. A 50-day SMA is recorded $34.68, while a 200-day SMA reached $38.40. Nevertheless, trading volume fell to 4.41 million shares from 6.06 million shares the previous day.
Support And Resistance Levels for MGM Resorts International (MGM)
According to the 24-hour chart, there is a support level at 37.91, which, if violated, would cause prices to drop to 37.48. In the upper region, resistance lies at 38.61. The next price resistance is at 38.89. RSI (Relative Strength Index) is 65.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.98, which suggests the price will increase in the coming days. Percent R is at 34.45%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
