Monday, January 18, 2021

why MGM Resorts International [MGM] is a Good Choice for Investors After New Price Target of $26.21

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MGM Resorts International [NYSE: MGM] slipped around -0.5 points on Tuesday, while shares priced at $30.29 at the close of the session, down -1.62%. The company report on January 11, 2021 that Washington Nationals and BetMGM Announce Exclusive Multi-Year Partnership.

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Partnership includes launch of mobile app and first-ever BetMGM Sportsbook connected to a stadium.


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The Washington Nationals announced a multi-year, exclusive partnership with BetMGM, a leading sports betting and digital gaming company. Key details of the partnership include the opening of a BetMGM Sportsbook connected to Nationals Park and the launch of a mobile app within the permitted area around the Park, as well as fan-focused campaigns and co-branding opportunities.

MGM Resorts International stock is now -3.87% down from its year-to-date (YTD) trading value. MGM Stock saw the intraday high of $30.95 and lowest of $30.16 per share. The company’s 52-week high price is 34.63, which means current price is +2.99% above from all time high which was touched on 01/04/21.

Compared to the average trading volume of 9.97M shares, MGM reached a trading volume of 8103861 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 $26.21 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 2.80. 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.

Citigroup have made an estimate for MGM Resorts International shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 07, 2021. The new note on the price target was released on October 12, 2020, representing the official price target for MGM Resorts International stock. Previously, the target price had yet another drop from $21 to $19, while ROTH Capital kept a Neutral rating on MGM stock. On September 14, 2020, analysts increased their price target for MGM shares from 17 to 20.

The Average True Range (ATR) for MGM Resorts International is set at 1.15, with the Price to Sales ratio for MGM stock in the period of the last 12 months amounting to 2.13. The Price to Book ratio for the last quarter was 2.18, with the Price to Cash per share for the same quarter was set at 9.52.

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 -0.23. With this latest performance, MGM shares dropped by -2.07% in over the last four-week period, additionally plugging by 87.44% over the last 6 months – not to mention a drop of -9.23% 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 51.52, with the RSI for the last a single of trading hit 47.21, and the three-weeks RSI is set at 54.45 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 28.21, while it was recorded at 30.84 for the last single week of trading, and 20.85 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 2.20 and a Current Ratio set at 2.20.

Earnings analysis for MGM Resorts International [MGM]

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%.

Insider trade positions for MGM Resorts International [MGM]

There are presently around $9,729 million, or 65.40% 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 $1.18 billion in MGM stocks shares; and BLACKROCK INC., currently with $861.08 million in MGM stock with ownership of nearly -10.847% of the company’s market capitalization.

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Positions in MGM Resorts International stocks held by institutional investors increased at the end of February and at the time of the February reporting period, where 244 institutional holders increased their position in MGM Resorts International [NYSE:MGM] by around 47,166,631 shares. Additionally, 262 investors decreased positions by around 54,018,088 shares, while 78 investors held positions by with 220,026,504 shares. The mentioned changes placed institutional holdings at 321,211,223 shares, according to the latest SEC report filing. MGM stock had 101 new institutional investments in for a total of 22,016,003 shares, while 74 institutional investors sold positions of 14,335,382 shares during the same period.

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