MGM Resorts International [MGM] Revenue clocked in at $9.68 billion, down -10.67% YTD: What’s Next?

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MGM Resorts International [NYSE: MGM] gained 3.32% on the last trading session, reaching $40.09 price per share at the time. The company report on March 7, 2022 that BETMGM LAUNCHES MOBILE SPORTS BETTING IN ILLINOIS.


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Leading digital gaming operator enters 22nd market.

BetMGM, a leading sports betting and iGaming operator, launched its mobile app in Illinois over the weekend. Customers in Illinois now can access BetMGM’s state-of-the-art online sports wagering platform, providing a wide variety of betting options as well as access to earn experiences at MGM Resorts’ premier destinations across the country.

MGM Resorts International represents 465.19 million in outstanding shares, while the company has a total market value of $17.61 billion with the latest information. MGM stock price has been found in the range of $38.56 to $40.39.

If compared to the average trading volume of 5.55M shares, MGM reached a trading volume of 5493315 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 $55.62 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 2.40. 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.

Citigroup have made an estimate for MGM Resorts International shares, keeping their opinion on the stock as Buy, with their previous recommendation back on February 10, 2022. While these analysts kept the previous recommendation, Wells Fargo dropped their target price from $62 to $60. The new note on the price target was released on February 10, 2022, representing the official price target for MGM Resorts International stock. Previously, the target price had yet another raise from $53 to $55, while Stifel kept a Hold rating on MGM stock. On February 10, 2022, analysts increased their price target for MGM shares from 52 to 56.

The Average True Range (ATR) for MGM Resorts International is set at 2.15, with the Price to Sales ratio for MGM stock in the period of the last 12 months amounting to 1.82. The Price to Book ratio for the last quarter was 3.07, with the Price to Cash per share for the same quarter was set at 10.71. Price to Free Cash Flow for MGM in the course of the last twelve months was 20.06 with Quick ratio for the last quarter at 1.80.

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 6.54. With this latest performance, MGM shares dropped by -11.81% in over the last four-week period, additionally sinking by -3.19% over the last 6 months – not to mention a rise of 0.45% 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 44.05, with the RSI for the last a single of trading hit 44.26, and the three-weeks RSI is set at 44.62 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 43.19, while it was recorded at 40.03 for the last single week of trading, and 42.90 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 +5.82 and a Gross Margin at +36.15. MGM Resorts International’s Net Margin is presently recorded at +12.15.

Return on Equity for this stock inclined to 18.70, with Return on Assets sitting at 2.83.

MGM Resorts International’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 1.90.

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

There are presently around $12,105 million, or 71.80% of MGM stock, in the hands of institutional investors. The top three institutional holders of MGM stocks are: VANGUARD GROUP INC with ownership of 42,100,501, which is approximately -1.375% of the company’s market cap and around 14.90% of the total institutional ownership; BLACKROCK INC., holding 25,615,689 shares of the stock with an approximate value of $993.89 million in MGM stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $670.48 million in MGM stock with ownership of nearly -32.585% of the company’s market capitalization.

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 352 institutional holders increased their position in MGM Resorts International [NYSE:MGM] by around 30,688,656 shares. Additionally, 279 investors decreased positions by around 29,182,621 shares, while 127 investors held positions by with 252,118,410 shares. The mentioned changes placed institutional holdings at 311,989,687 shares, according to the latest SEC report filing. MGM stock had 128 new institutional investments in for a total of 5,867,553 shares, while 63 institutional investors sold positions of 5,217,116 shares during the same period.

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