MGM Resorts International [MGM] gain 19.11% so far this year. What now?

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MGM Resorts International [NYSE: MGM] slipped around -0.64 points on Friday, while shares priced at $37.53 at the close of the session, down -1.68%. The company report on July 28, 2021 that Football Legend Marshawn Lynch Named BetMGM Brand Ambassador.

“Beast Mode” partnership includes BetMGM promotional opportunities, fan events, and more.

BetMGM, a leading sports betting and digital gaming company, announced the signing of former National Football League (NFL) running back Marshawn Lynch as a brand ambassador. The Super Bowl champion will be featured in BetMGM’s upcoming marketing campaigns, promotions and fan events.

MGM Resorts International stock is now 19.11% up from its year-to-date (YTD) trading value. MGM Stock saw the intraday high of $38.75 and lowest of $37.385 per share. The company’s 52-week high price is 45.34, which means current price is +34.93% above from all time high which was touched on 06/24/21.

Compared to the average trading volume of 6.37M shares, MGM reached a trading volume of 6531885 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 $45.20 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 2.50. 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.

Goldman have made an estimate for MGM Resorts International shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 28, 2021. While these analysts kept the previous recommendation, Deutsche Bank raised their target price from $42 to $54. The new note on the price target was released on June 24, 2021, representing the official price target for MGM Resorts International stock. Previously, the target price had yet another raise from $45 to $47, while JP Morgan kept a Overweight rating on MGM stock.

The Average True Range (ATR) for MGM Resorts International is set at 1.46, with the Price to Sales ratio for MGM stock in the period of the last 12 months amounting to 4.11. The Price to Book ratio for the last quarter was 2.95, with the Price to Cash per share for the same quarter was set at 12.37.

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 -3.17. With this latest performance, MGM shares dropped by -12.00% in over the last four-week period, additionally plugging by 31.41% over the last 6 months – not to mention a rise of 125.54% 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 38.58, with the RSI for the last a single of trading hit 36.24, and the three-weeks RSI is set at 40.87 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 41.35, while it was recorded at 38.27 for the last single week of trading, and 35.11 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 -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 3.80 and a Current Ratio set at 3.90.

Insider trade positions for MGM Resorts International [MGM]

There are presently around $11,495 million, or 63.30% of MGM stock, in the hands of institutional investors. The top three institutional holders of MGM stocks are: VANGUARD GROUP INC with ownership of 42,123,037, which is approximately -2.9% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 28,657,908 shares of the stock with an approximate value of $1.08 billion in MGM stocks shares; and STATE STREET CORP, currently with $620.51 million in MGM stock with ownership of nearly -2.068% 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 August and at the time of the August reporting period, where 338 institutional holders increased their position in MGM Resorts International [NYSE:MGM] by around 37,010,265 shares. Additionally, 271 investors decreased positions by around 50,294,797 shares, while 95 investors held positions by with 218,982,023 shares. The mentioned changes placed institutional holdings at 306,287,085 shares, according to the latest SEC report filing. MGM stock had 121 new institutional investments in for a total of 12,786,271 shares, while 60 institutional investors sold positions of 1,405,281 shares during the same period.

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