MGM Resorts International [MGM] Revenue clocked in at $10.89 billion, down -21.86% YTD: What’s Next?


MGM Resorts International [NYSE: MGM] closed the trading session at $35.07 on 05/16/22. The day’s price range saw the stock hit a low of $34.985, while the highest price level was $36.74. The company report on May 12, 2022 that BETMGM BUSINESS UPDATE.

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Established market leader; revenue and profitability outlook reiterated.

BetMGM, a leading sports betting and digital gaming operator, is holding a virtual business update today for analysts and investors.

The stocks have a year to date performance of -21.86 percent and weekly performance of -0.20 percent. The stock has been moved at -22.22 percent over the last six months. The stock has performed -15.70 percent around the most recent 30 days and changed -21.46 percent over the most recent 3-months.

If compared to the average trading volume of 5.24M shares, MGM reached to a volume of 5922879 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 $54.45 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.

JP Morgan have made an estimate for MGM Resorts International shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on May 03, 2022. While these analysts kept the previous recommendation, Susquehanna raised their target price from $36 to $45. The new note on the price target was released on March 18, 2022, representing the official price target for MGM Resorts International stock. Previously, the target price had yet another raise to $57, while Citigroup analysts kept a Buy rating on MGM stock. On February 10, 2022, analysts decreased their price target for MGM shares from 62 to 60.

The Average True Range (ATR) for MGM Resorts International is set at 1.94, with the Price to Sales ratio for MGM stock in the period of the last 12 months amounting to 1.31. 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 6.68. Price to Free Cash Flow for MGM in the course of the last twelve months was 10.46 with Quick ratio for the last quarter at 1.20.

MGM stock trade performance evaluation

MGM Resorts International [MGM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.20. With this latest performance, MGM shares dropped by -15.70% in over the last four-week period, additionally sinking by -22.22% over the last 6 months – not to mention a drop of -9.50% 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 36.25, with the RSI for the last a single of trading hit 34.17, and the three-weeks RSI is set at 38.35 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 40.36, while it was recorded at 35.40 for the last single week of trading, and 42.75 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 +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 1.20 and a Current Ratio set at 1.30.

MGM Resorts International [MGM]: Insider Ownership positions

There are presently around $10,602 million, or 72.10% of MGM stock, in the hands of institutional investors. The top three institutional holders of MGM stocks are: VANGUARD GROUP INC with ownership of 41,799,759, which is approximately -0.714% of the company’s market cap and around 15.40% of the total institutional ownership; BLACKROCK INC., holding 25,396,637 shares of the stock with an approximate value of $918.09 million in MGM stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $618.25 million in MGM stock with ownership of nearly -1.031% 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 302 institutional holders increased their position in MGM Resorts International [NYSE:MGM] by around 19,072,556 shares. Additionally, 355 investors decreased positions by around 40,347,533 shares, while 126 investors held positions by with 233,870,080 shares. The mentioned changes placed institutional holdings at 293,290,169 shares, according to the latest SEC report filing. MGM stock had 96 new institutional investments in for a total of 8,469,921 shares, while 77 institutional investors sold positions of 4,436,852 shares during the same period.