why MGM Resorts International [MGM] is a Good Choice for Investors After New Price Target of $33.21

MGM Resorts International [NYSE: MGM] gained 0.63% on the last trading session, reaching $38.54 price per share at the time. The company report on March 2, 2021 that MGM Resorts International Names Clorox “Official Guest Disinfectant And Hand Sanitizer Brand”.

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Clorox products will be available at MGM Resorts properties in Las Vegas and throughout the U.S.

MGM Resorts International (NYSE: MGM) announced it is teaming with The Clorox Company as the exclusive provider of disinfectant and hand sanitizing products for guest use at more than 20 MGM Resorts properties in Las Vegas and across the United States. As the “Official Guest Disinfectant and Hand Sanitizer Brand of MGM Resorts,” Clorox®, one of the most trusted brands in cleaning, will supply disinfectant wipes and hand sanitizer throughout guest-accessible areas of the company’s properties in support of MGM Resorts’ industry-leading Seven-Point Safety Plan.

MGM Resorts International represents 494.23 million in outstanding shares, while the company has a total market value of $18.52 billion with the latest information. MGM stock price has been found in the range of $37.65 to $38.90.

If compared to the average trading volume of 9.42M shares, MGM reached a trading volume of 9387033 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $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 2.80. 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.

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 1.54, with the Price to Sales ratio for MGM stock in the period of the last 12 months amounting to 3.59. The Price to Book ratio for the last quarter was 2.93, with the Price to Cash per share for the same quarter was set at 10.62.

Trading performance analysis for MGM stock

MGM Resorts International [MGM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.65. With this latest performance, MGM shares gained by 34.94% in over the last four-week period, additionally plugging by 61.53% over the last 6 months – not to mention a rise of 53.85% 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 64.90, with the RSI for the last a single of trading hit 65.17, and the three-weeks RSI is set at 64.21 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 32.60, while it was recorded at 37.99 for the last single week of trading, and 24.08 for the last 200 days.

MGM Resorts International [MGM]: A deeper dive into fundamental analysis

MGM Resorts International’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.20 and a Current Ratio set at 3.20.

MGM Resorts International [MGM]: An earnings per share (EPS) analysis

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 -0.32/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 612.50%. 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%.

An analysis of insider ownership at MGM Resorts International [MGM]

There are presently around $12,471 million, or 63.70% 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 0.50% of the total institutional ownership; BLACKROCK INC., holding 28,373,425 shares of the stock with an approximate value of $1.09 billion in MGM stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $890.33 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 287 institutional holders increased their position in MGM Resorts International [NYSE:MGM] by around 44,025,232 shares. Additionally, 276 investors decreased positions by around 48,195,032 shares, while 78 investors held positions by with 231,356,824 shares. The mentioned changes placed institutional holdings at 323,577,088 shares, according to the latest SEC report filing. MGM stock had 138 new institutional investments in for a total of 16,648,853 shares, while 66 institutional investors sold positions of 6,230,090 shares during the same period.

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