Thursday, October 22, 2020

MGM Resorts International [MGM] moved up 0.33: Why It’s Important

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MGM Resorts International [NYSE: MGM] traded at a high on 10/15/20, posting a 0.33 gain after which it closed the day’ session at $21.16. The company report on October 16, 2020 that MGM Resorts Named One of World’s Best Employers by Forbes.

MGM Resorts International (NYSE: MGM) was ranked No. 107 on Forbes’ list of 750 World’s Best Employers for 2020. MGM Resorts is the only company on the Las Vegas Strip to make the list.

Forbes partnered with market research firm Statista to compile their fourth-annual list of the World’s Best Employers. They surveyed 160,000 full-time and part-time workers from 58 countries working for businesses with operations in multiple nations or regions. The final list is composed of 750 multinational and large corporations headquartered in 45 countries.

The results of the trading session contributed to over 9108395 shares changing hands. Over the past one week, the price volatility of MGM Resorts International stands at 2.66% while the volatility over the past one month is 3.82%.

The market cap for MGM stock reached $10.72 billion, with 493.46 million shares outstanding and 430.47 million shares in the current float. Compared to the average trading volume of 17.60M shares, MGM reached a trading volume of 9108395 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about MGM Resorts International [MGM]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MGM shares is $19.54 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MGM stock is a recommendation set at 3.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Barclays have made an estimate for MGM Resorts International shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on October 12, 2020. While these analysts kept the previous recommendation, ROTH Capital dropped their target price from $21 to $19. The new note on the price target was released on September 16, 2020, representing the official price target for MGM Resorts International stock. Previously, the target price had yet another raise from $17 to $20, while Goldman kept a Sell rating on MGM stock.

The Average True Range (ATR) for MGM Resorts International is set at 0.85, with the Price to Sales ratio for MGM stock in the period of the last 12 months amounting to 1.19. The Price to Book ratio for the last quarter was 1.42, with the Price to Cash per share for the same quarter was set at 9.55.

How has MGM stock performed recently?

MGM Resorts International [MGM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.51. With this latest performance, MGM shares dropped by -8.04% in over the last four-week period, additionally plugging by 50.28% over the last 6 months – not to mention a drop of -22.86% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MGM stock in for the last two-week period is set at 45.84, with the RSI for the last a single of trading hit 42.82, and the three-weeks RSI is set at 48.42 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 21.88, while it was recorded at 21.20 for the last single week of trading, and 20.58 for the last 200 days.

MGM Resorts International [MGM]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and MGM Resorts International [MGM] shares currently have an operating margin of +11.71 and a Gross Margin at +30.94. MGM Resorts International’s Net Margin is presently recorded at +15.86.

Return on Total Capital for MGM is now 5.59, given the latest momentum, and Return on Invested Capital for the company is 9.13. Return on Equity for this stock inclined to 28.74, with Return on Assets sitting at 6.17. When it comes to the capital structure of this company, MGM Resorts International [MGM] has a Total Debt to Total Equity ratio set at 202.01. Additionally, MGM Total Debt to Total Capital is recorded at 66.89, with Total Debt to Total Assets ending up at 44.26. Long-Term Debt to Equity for the company is recorded at 200.77, with the Long-Term Debt to Total Capital now at 66.48.

Reflecting on the efficiency of the workforce at the company, MGM Resorts International [MGM] managed to generate an average of $29,235 per employee. Receivables Turnover for the company is 12.52 with a Total Asset Turnover recorded at a value of 0.39.MGM Resorts International’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 2.50.

Earnings analysis for MGM Resorts International [MGM]

With the latest financial reports released by the company, MGM Resorts International posted -0.08/share EPS, while the average EPS was predicted by analysts to be reported at 0.29/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -127.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MGM. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for MGM Resorts International go to -11.57%.

Insider trade positions for MGM Resorts International [MGM]

There are presently around $7,023 million, or 68.50% of MGM stock, in the hands of institutional investors. The top three institutional holders of MGM stocks are: VANGUARD GROUP INC with ownership of 52,371,998, which is approximately -5.835% of the company’s market cap and around 12.50% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 32,769,062 shares of the stock with an approximate value of $693.39 million in MGM stocks shares; and BLACKROCK INC., currently with $674.72 million in MGM stock with ownership of nearly -0.078% of the company’s market capitalization.

Positions in MGM Resorts International stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 286 institutional holders increased their position in MGM Resorts International [NYSE:MGM] by around 39,409,709 shares. Additionally, 254 investors decreased positions by around 81,831,519 shares, while 51 investors held positions by with 210,646,225 shares. The mentioned changes placed institutional holdings at 331,887,453 shares, according to the latest SEC report filing. MGM stock had 116 new institutional investments in for a total of 7,738,935 shares, while 98 institutional investors sold positions of 39,382,859 shares during the same period.

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