MGM Resorts International [MGM] Stock trading around $34.99 per share: What’s Next?

MGM Resorts International [NYSE: MGM] stock went on a downward path that fall over -2.62% on Tuesday, amounting to a one-week price decrease of less than -1.71%. The company report on February 11, 2021 that Mandalay Bay and Anheuser-Busch Announce Multi-Year Naming Rights Partnership for Sports and Entertainment Venue.

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Mandalay Bay Events Center Renamed Michelob ULTRA Arena; Agreement includes Brand Presence throughout Resort.

Mandalay Bay Resort and Casino announced it has entered into a multi-year naming rights agreement with industry-leading beverage company Anheuser-Busch. The deal, negotiated by MGM Resorts International, will rename the resort’s 12,000-seat sports and entertainment venue in Las Vegas the “Michelob ULTRA Arena.”.

Over the last 12 months, MGM stock rose by 11.01%. The one-year MGM Resorts International stock forecast points to a potential downside of -7.86. 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 $17.01 billion, with 493.52 million shares outstanding and 400.36 million shares in the current float. Compared to the average trading volume of 9.24M shares, MGM stock reached a trading volume of 12036437 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 $32.44 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.

BofA Securities have made an estimate for MGM Resorts International shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on February 08, 2021. The new note on the price target was released on January 14, 2021, representing the official price target for MGM Resorts International 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 1.88. The Price to Book ratio for the last quarter was 2.52, with the Price to Cash per share for the same quarter was set at 9.45.

MGM Stock Performance Analysis:

MGM Resorts International [MGM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.71. With this latest performance, MGM shares gained by 15.55% in over the last four-week period, additionally plugging by 60.43% over the last 6 months – not to mention a rise of 11.01% 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 62.10, with the RSI for the last a single of trading hit 62.25, and the three-weeks RSI is set at 61.47 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 31.19, while it was recorded at 35.70 for the last single week of trading, and 22.93 for the last 200 days.

Insight into MGM Resorts International 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.

MGM Stock EPS

With the latest financial reports released by the company, MGM Resorts International posted 1.64/share EPS, while the average EPS was predicted by analysts to be reported at -0.35/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 568.60%. 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 -0.88%.

MGM Resorts International [MGM] Insider Position Details

There are presently around $10,913 million, or 62.50% of MGM stock, in the hands of institutional investors. The top three institutional holders of MGM stocks are: VANGUARD GROUP INC with ownership of 43,381,150, which is approximately 0.844% of the company’s market cap and around 0.60% of the total institutional ownership; BLACKROCK INC., holding 28,373,425 shares of the stock with an approximate value of $992.79 million in MGM stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $808.32 million in MGM stock with ownership of nearly -40.737% 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 276 institutional holders increased their position in MGM Resorts International [NYSE:MGM] by around 37,502,855 shares. Additionally, 275 investors decreased positions by around 49,417,602 shares, while 80 investors held positions by with 224,976,626 shares. The mentioned changes placed institutional holdings at 311,897,083 shares, according to the latest SEC report filing. MGM stock had 129 new institutional investments in for a total of 15,923,789 shares, while 68 institutional investors sold positions of 6,236,102 shares during the same period.

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