Market Analysts see MGM Resorts International [MGM] gaining to $42. Time to buy?

MGM Resorts International [NYSE: MGM] price surged by 5.52 percent to reach at $2.07. The company report on February 19, 2021 that BetMGM and Topgolf Announce Integrated Sports Betting and Entertainment Partnership.

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Companies to engage new audiences through cross-promotional opportunities.

BetMGM and Topgolf Entertainment Group announced a new partnership centered around an integrated sports betting and entertainment experience. The two companies will collaborate on marketing and promotional offers through the BetMGM platform at select Topgolf venues and within WGT by Topgolf, the leading online golf game which has been part of the Topgolf family since 2016.

A sum of 15074801 shares traded at recent session while its average daily volume was at 9.05M shares. MGM Resorts International shares reached a high of $39.91 and dropped to a low of $37.30 until finishing in the latest session at $39.59.

The one-year MGM stock forecast points to a potential downside of -19.21. The average equity rating for MGM stock is currently 2.90, trading closer to a bullish pattern in the stock market.

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 $33.21 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 2.90. 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.

Argus have made an estimate for MGM Resorts International shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 23, 2021. While these analysts kept the previous recommendation, BofA Securities raised their target price from $25 to $35. The new note on the price target was released on February 08, 2021, representing the official price target for MGM Resorts International stock.

The Average True Range (ATR) for MGM Resorts International is set at 1.47, with the Price to Sales ratio for MGM stock in the period of the last 12 months amounting to 2.08. The Price to Book ratio for the last quarter was 2.85, with the Price to Cash per share for the same quarter was set at 9.65.

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 13.15. With this latest performance, MGM shares gained by 26.12% in over the last four-week period, additionally plugging by 87.10% over the last 6 months – not to mention a rise of 33.30% 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 75.19, with the RSI for the last a single of trading hit 80.45, and the three-weeks RSI is set at 71.55 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 31.85, while it was recorded at 36.71 for the last single week of trading, and 23.48 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 -40.37 and a Gross Margin at +9.66. MGM Resorts International’s Net Margin is presently recorded at -20.01.

Return on Total Capital for MGM is now -6.90, given the latest momentum, and Return on Invested Capital for the company is -4.09. Return on Equity for this stock declined to -14.51, with Return on Assets sitting at -2.88. When it comes to the capital structure of this company, MGM Resorts International [MGM] has a Total Debt to Total Equity ratio set at 319.26. Additionally, MGM Total Debt to Total Capital is recorded at 76.15, with Total Debt to Total Assets ending up at 56.90. Long-Term Debt to Equity for the company is recorded at 319.26, with the Long-Term Debt to Total Capital now at 76.15.

Receivables Turnover for the company is 5.34 with a Total Asset Turnover recorded at a value of 0.14.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 $12,615 million, or 61.30% 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 $1.12 billion in MGM stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $914.58 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 283 institutional holders increased their position in MGM Resorts International [NYSE:MGM] by around 43,786,963 shares. Additionally, 275 investors decreased positions by around 48,066,804 shares, while 80 investors held positions by with 226,790,293 shares. The mentioned changes placed institutional holdings at 318,644,060 shares, according to the latest SEC report filing. MGM stock had 135 new institutional investments in for a total of 16,628,621 shares, while 67 institutional investors sold positions of 6,244,788 shares during the same period.

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