For MGM Resorts International [MGM], Analyst sees a rise to $45. What next?

MGM Resorts International [NYSE: MGM] gained 5.04% or 2.0 points to close at $41.70 with a heavy trading volume of 13808864 shares. The company report on March 31, 2021 that Detroit Tigers Announce Sponsorship Agreement with BetMGM in Gaming Category.

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Multi-year agreement to feature signage at Comerica Park, fan promotions and sponsored presence on Tigers’ digital channels.


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Sponsored


The Detroit Tigers announced that BetMGM, a leading sports betting and digital gaming operator, has become an official gaming partner under the terms of a multi-year sponsorship agreement. Highlights of the sponsorship in the gaming category include BetMGM branding on scoreboards throughout Comerica Park, fan-focused promotions, integrated social media content, and more.

It opened the trading session at $41.38, the shares rose to $42.629 and dropped to $41.00, the range by which the price of stock traded the whole day. The daily chart for MGM points out that the company has recorded 91.11% gains over the past six months. However, it is still -317.0% lower than its most recent low trading price.

If we look at the average trading volume of 9.88M shares, MGM reached to a volume of 13808864 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 $37.55 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 2.70. 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.

Morgan Stanley have made an estimate for MGM Resorts International shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on April 05, 2021. While these analysts kept the previous recommendation, Jefferies raised their target price from $36 to $50. The new note on the price target was released on March 15, 2021, representing the official price target for MGM Resorts International stock. Previously, the target price had yet another raise to $42, while Argus analysts kept a Buy rating on MGM stock. On February 08, 2021, analysts increased their price target for MGM shares from 25 to 35.

The Average True Range (ATR) for MGM Resorts International is set at 1.78, with the Price to Sales ratio for MGM stock in the period of the last 12 months amounting to 3.83. The Price to Book ratio for the last quarter was 3.17, with the Price to Cash per share for the same quarter was set at 10.77.

Trading performance analysis for MGM stock

MGM Resorts International [MGM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.67. With this latest performance, MGM shares gained by 11.83% in over the last four-week period, additionally plugging by 91.11% over the last 6 months – not to mention a rise of 262.29% 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 64.00, with the RSI for the last a single of trading hit 68.18, and the three-weeks RSI is set at 62.33 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 36.25, while it was recorded at 38.95 for the last single week of trading, and 26.41 for the last 200 days.

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

Operating Margin for any stock indicates how profitable investing would be, and MGM Resorts International [MGM] shares currently have an operating margin of -38.91 and a Gross Margin at +9.66. MGM Resorts International’s Net Margin is presently recorded at -19.32.

Return on Total Capital for MGM is now -6.63, given the latest momentum, and Return on Invested Capital for the company is -3.94. Return on Equity for this stock declined to -14.01, with Return on Assets sitting at -2.68. When it comes to the capital structure of this company, MGM Resorts International [MGM] has a Total Debt to Total Equity ratio set at 323.04. Additionally, MGM Total Debt to Total Capital is recorded at 76.36, with Total Debt to Total Assets ending up at 53.70. Long-Term Debt to Equity for the company is recorded at 321.32, with the Long-Term Debt to Total Capital now at 75.95.

Reflecting on the efficiency of the workforce at the company, MGM Resorts International [MGM] managed to generate an average of -$23,743 per employee. 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 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.

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

There are presently around $13,491 million, or 64.70% 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 $1.18 billion in MGM stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $963.33 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 May and at the time of the May reporting period, where 283 institutional holders increased their position in MGM Resorts International [NYSE:MGM] by around 44,005,200 shares. Additionally, 279 investors decreased positions by around 48,208,057 shares, while 77 investors held positions by with 231,299,999 shares. The mentioned changes placed institutional holdings at 323,513,256 shares, according to the latest SEC report filing. MGM stock had 136 new institutional investments in for a total of 16,631,651 shares, while 66 institutional investors sold positions of 6,211,759 shares during the same period.

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