MGM Resorts International [MGM] Revenue clocked in at $6.54 billion, up 54.52% YTD: What’s Next?

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MGM Resorts International [NYSE: MGM] closed the trading session at $48.69 on 10/12/21. The day’s price range saw the stock hit a low of $45.11, while the highest price level was $48.939. The company report on October 4, 2021 that MGM Resorts International Celebrates with the LGBTQ+ Community as a Sponsor of the 24th Annual Las Vegas PRIDE Night Parade.

MGM Resorts International (NYSE: MGM) will return for the 15th consecutive year as a sponsor of the 24th Annual PRIDE Parade to be held on Friday, October 8 in downtown Las Vegas. The celebration – which is the largest annual LGBTQ+ event in Las Vegas – is hosted by The Southern Nevada Association of PRIDE, Inc. (SNAPI). Events will take place through October 10. The theme this year is “Together Again,” a nod to last year’s parade being completely virtual due to the Covid-19 pandemic.

As a sponsor of the annual PRIDE parade since 2003, MGM Resorts International continues to be a supporter of the LGBTQ+ community. MGM Resorts employees are expected to celebrate and march with the float created by MGM Resorts Event Productions.

The stocks have a year to date performance of 54.52 percent and weekly performance of 8.30 percent. The stock has been moved at 18.01 percent over the last six months. The stock has performed 12.97 percent around the most recent 30 days and changed 21.82 percent over the most recent 3-months.

If compared to the average trading volume of 6.61M shares, MGM reached to a volume of 28024035 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to 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 $44.96 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.

Credit Suisse have made an estimate for MGM Resorts International shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 12, 2021. While these analysts kept the previous recommendation, Susquehanna raised their target price from $10 to $36. The new note on the price target was released on October 01, 2021, representing the official price target for MGM Resorts International stock. Previously, the target price had yet another raise to $55, while Wells Fargo analysts kept a Overweight rating on MGM stock.

The Average True Range (ATR) for MGM Resorts International is set at 1.62, with the Price to Sales ratio for MGM stock in the period of the last 12 months amounting to 3.62. The Price to Book ratio for the last quarter was 3.86, with the Price to Cash per share for the same quarter was set at 11.59.

MGM stock trade performance evaluation

MGM Resorts International [MGM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.30. With this latest performance, MGM shares gained by 12.97% in over the last four-week period, additionally plugging by 18.01% over the last 6 months – not to mention a rise of 127.52% 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 71.50, with the RSI for the last a single of trading hit 77.39, and the three-weeks RSI is set at 67.35 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 41.96, while it was recorded at 45.39 for the last single week of trading, and 39.14 for the last 200 days.

MGM Resorts International [MGM]: An insightful look at the core 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 3.20 and a Current Ratio set at 3.20.

MGM Resorts International [MGM]: Insider Ownership positions

There are presently around $15,201 million, or 65.60% of MGM stock, in the hands of institutional investors. The top three institutional holders of MGM stocks are: VANGUARD GROUP INC with ownership of 43,236,311, which is approximately 2.643% of the company’s market cap and around 0.50% of the total institutional ownership; BLACKROCK INC., holding 26,881,525 shares of the stock with an approximate value of $1.31 billion in MGM stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $915.25 million in MGM stock with ownership of nearly 89.857% 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 November and at the time of the November reporting period, where 311 institutional holders increased their position in MGM Resorts International [NYSE:MGM] by around 43,043,667 shares. Additionally, 316 investors decreased positions by around 37,114,777 shares, while 105 investors held positions by with 232,051,399 shares. The mentioned changes placed institutional holdings at 312,209,843 shares, according to the latest SEC report filing. MGM stock had 103 new institutional investments in for a total of 5,959,905 shares, while 76 institutional investors sold positions of 4,886,862 shares during the same period.

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