MGM Resorts International [MGM] moved down -3.20: Why It’s Important

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MGM Resorts International [NYSE: MGM] closed the trading session at $28.40 on 07/11/22. The day’s price range saw the stock hit a low of $28.06, while the highest price level was $28.96. The company report on July 6, 2022 that MGM Resorts International Announces Second Quarter 2022 Earnings Release Date.


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MGM Resorts International (NYSE: MGM) (“MGM Resorts” or the “Company”) will release its financial results for the second quarter 2022 after the market closes on Wednesday, August 3, 2022. MGM Resorts will host a conference call that day at 5 p.m. EDT, which will include a brief discussion of the results followed by a question and answer session. In addition, supplemental slides will be posted prior to the start of the call on MGM’s Investor Relations website at  http://investors.mgmresorts.com.

The call will be accessible via the Internet through http://investors.mgmresorts.com/investors/events-and-presentations/ or by calling 1-888-317-6003 for domestic callers and 1-412-317-6061 for international callers. The conference call access code is 9563121.

The stocks have a year to date performance of -36.72 percent and weekly performance of -5.33 percent. The stock has been moved at -35.92 percent over the last six months. The stock has performed -19.77 percent around the most recent 30 days and changed -27.51 percent over the most recent 3-months.

If compared to the average trading volume of 6.16M shares, MGM reached to a volume of 4542953 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 $53.70 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 2.10. 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.

JMP Securities have made an estimate for MGM Resorts International shares, keeping their opinion on the stock as Mkt Outperform, with their previous recommendation back on June 28, 2022. While these analysts kept the previous recommendation, JP Morgan raised their target price to Overweight. The new note on the price target was released on May 03, 2022, representing the official price target for MGM Resorts International stock. Previously, the target price had yet another raise from $36 to $45, while Susquehanna kept a Neutral rating on MGM stock.

The Average True Range (ATR) for MGM Resorts International is set at 1.43, with the Price to Sales ratio for MGM stock in the period of the last 12 months amounting to 1.13. The Price to Book ratio for the last quarter was 2.48, with the Price to Cash per share for the same quarter was set at 6.29. Price to Free Cash Flow for MGM in the course of the last twelve months was 9.00 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 -5.33. With this latest performance, MGM shares dropped by -19.77% in over the last four-week period, additionally sinking by -35.92% over the last 6 months – not to mention a drop of -31.73% 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 39.25, with the RSI for the last a single of trading hit 38.20, and the three-weeks RSI is set at 39.62 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 33.24, while it was recorded at 29.48 for the last single week of trading, and 41.04 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 $8,259 million, or 71.70% 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 15.50% of the total institutional ownership; BLACKROCK INC., holding 25,396,637 shares of the stock with an approximate value of $721.26 million in MGM stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $485.7 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 August and at the time of the August reporting period, where 297 institutional holders increased their position in MGM Resorts International [NYSE:MGM] by around 18,743,965 shares. Additionally, 359 investors decreased positions by around 40,990,674 shares, while 123 investors held positions by with 231,067,882 shares. The mentioned changes placed institutional holdings at 290,802,521 shares, according to the latest SEC report filing. MGM stock had 90 new institutional investments in for a total of 8,435,681 shares, while 85 institutional investors sold positions of 4,453,627 shares during the same period.

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