Susquehanna slashes price target on MGM Resorts International [MGM] – find out why.


MGM Resorts International [NYSE: MGM] gained 1.36% on the last trading session, reaching $43.35 price per share at the time. The company report on April 8, 2022 that Remark Holdings Launches VegasVerz, an Augmented and Virtual Reality App Powered by Remark AI in Conjunction with Upcoming BTS Las Vegas Concerts April 8-9, 2022 and April 15-16, 2022.

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Remark Holdings, Inc. (NASDAQ: MARK), a diversified global technology company with leading artificial intelligence (“AI”) solutions and digital media properties, announced today that it has launched VegasVerz, an Augmented and Reality App Powered by Remark AI in conjunction with the upcoming BTS Shows in Las Vegas April 8-9, 2022 and April 15-16, 2022. VegasVerz delivers the complete Las Vegas BTS Fan Experience, incorporating augmented and virtual reality to create an enjoyable and discoverable adventure that allows fans to collect unique items including NFTs, while participating in special one-of-a-kind experiences in Las Vegas.

Anchored by MGM Resorts International’s (NYSE: MGM) properties, which will serve as headquarters for the BTS Fan Army, the VegasVerz App allows fans to explore the world of BTS and collect unique virtual treasures that can be redeemed for discounts and opportunities, by exploring Bellagio, ARIA, MGM Grand, Mandalay Bay, Luxor, Excalibur, and The Mirage, which have all been enhanced by augmented reality.

MGM Resorts International represents 465.19 million in outstanding shares, while the company has a total market value of $18.73 billion with the latest information. MGM stock price has been found in the range of $42.89 to $44.02.

If compared to the average trading volume of 5.21M shares, MGM reached a trading volume of 4080771 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 $55.52 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.

Susquehanna have made an estimate for MGM Resorts International shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 18, 2022. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. 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 drop from $62 to $60, while Wells Fargo kept a Overweight rating on MGM stock. On February 10, 2022, analysts increased their price target for MGM shares from 53 to 55.

The Average True Range (ATR) for MGM Resorts International is set at 1.39, with the Price to Sales ratio for MGM stock in the period of the last 12 months amounting to 1.93. The Price to Book ratio for the last quarter was 3.32, with the Price to Cash per share for the same quarter was set at 10.89. Price to Free Cash Flow for MGM in the course of the last twelve months was 21.33 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 9.61. With this latest performance, MGM shares gained by 3.63% in over the last four-week period, additionally sinking by -8.68% over the last 6 months – not to mention a rise of 5.22% 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 58.85, with the RSI for the last a single of trading hit 65.79, and the three-weeks RSI is set at 55.10 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 42.30, while it was recorded at 42.03 for the last single week of trading, and 42.76 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 $13,304 million, or 70.10% 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 15.10% of the total institutional ownership; BLACKROCK INC., holding 25,615,689 shares of the stock with an approximate value of $1.1 billion in MGM stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $739.09 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 May and at the time of the May reporting period, where 336 institutional holders increased their position in MGM Resorts International [NYSE:MGM] by around 30,462,171 shares. Additionally, 296 investors decreased positions by around 29,269,160 shares, while 126 investors held positions by with 251,321,165 shares. The mentioned changes placed institutional holdings at 311,052,496 shares, according to the latest SEC report filing. MGM stock had 123 new institutional investments in for a total of 5,748,891 shares, while 67 institutional investors sold positions of 5,284,502 shares during the same period.