Wall Street Analyst Downgrade MGM Resorts International [MGM]. What else is Wall St. saying

MGM Resorts International [NYSE: MGM] stock went on a downward path that fall over -0.34% on Tuesday, amounting to a one-week price increase of more than 6.62%. The company report on November 17, 2020 that MGM Resorts International Named the 2020 “Responsibility” H.E.R.O.E.S. By the Western Regional Minority Supplier Development Council.

MGM Resorts International (NYSE: MGM) was the recipient of the “Responsibility” H.E.R.O.E.S award from the Western Regional Minority Supplier Development Council (WRMSDC) for the company’s leadership in inclusion and sustainable programs that allow Minority Businesses (MBE) to thrive.

The H.E.R.O.E.S. award, which stands for Heart. Excellence. Responsibility. Opportunity. Equality. Service., is bestowed upon an organization in recognition of their commitment to supplier diversity, advancing minority business success, and building economic wealth in Northern California, Nevada, and Hawaii.

Over the last 12 months, MGM stock dropped by -16.21%. The one-year MGM Resorts International stock forecast points to a potential downside of -28.5. The average equity rating for MGM stock is currently 2.90, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $11.94 billion, with 493.52 million shares outstanding and 431.12 million shares in the current float. Compared to the average trading volume of 12.87M shares, MGM stock reached a trading volume of 8424457 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $20.56 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 2.90. 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 1.26, with the Price to Sales ratio for MGM stock in the period of the last 12 months amounting to 1.74. The Price to Book ratio for the last quarter was 1.90, with the Price to Cash per share for the same quarter was set at 10.17.

MGM Stock Performance Analysis:

MGM Resorts International [MGM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 6.62. With this latest performance, MGM shares gained by 27.02% in over the last four-week period, additionally plugging by 60.12% over the last 6 months – not to mention a drop of -16.21% 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 67.90, with the RSI for the last a single of trading hit 71.32, and the three-weeks RSI is set at 64.39 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 22.25, while it was recorded at 25.30 for the last single week of trading, and 19.45 for the last 200 days.

Insight into MGM Resorts International Fundamentals:

MGM Resorts International’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.20 and a Current Ratio set at 2.20.

MGM Stock EPS

With the latest financial reports released by the company, MGM Resorts International posted 3.91/share EPS, while the average EPS was predicted by analysts to be reported at 0.26/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 1,403.80%. 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 -0.88%.

MGM Resorts International [MGM] Insider Position Details

There are presently around $8,621 million, or 66.20% of MGM stock, in the hands of institutional investors. The top three institutional holders of MGM stocks are: VANGUARD GROUP INC with ownership of 43,018,130, which is approximately -17.86% of the company’s market cap and around 12.50% of the total institutional ownership; PRICE T ROWE ASSOCIATES INC /MD/, holding 38,981,103 shares of the stock with an approximate value of $1.03 billion in MGM stocks shares; and BLACKROCK INC., currently with $751.06 million in MGM stock with ownership of nearly -10.847% of the company’s market capitalization.

247 institutional holders increased their position in MGM Resorts International [NYSE:MGM] by around 47,324,787 shares. Additionally, 268 investors decreased positions by around 54,680,699 shares, while 75 investors held positions by with 224,296,943 shares. The mentioned changes placed institutional holdings at 326,302,429 shares, according to the latest SEC report filing. MGM stock had 99 new institutional investments in for a total of 22,112,059 shares, while 76 institutional investors sold positions of 14,349,124 shares during the same period.

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