MGM Resorts International [MGM] is -26.34% lower this YTD. Is it still time to buy?

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MGM Resorts International [NYSE: MGM] traded at a high on 08/02/22, posting a 0.67 gain after which it closed the day’ session at $33.06. The company report on July 26, 2022 that BELLAGIO DEBUTS ONE OF A KIND IMMERSIVE DINING EXPERIENCE WITHIN ICONIC CONSERVATORY.


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The results of the trading session contributed to over 3764898 shares changing hands. Over the past one week, the price volatility of MGM Resorts International stands at 3.75% while the volatility over the past one month is 3.60%.

The market cap for MGM stock reached $13.52 billion, with 442.92 million shares outstanding and 349.51 million shares in the current float. Compared to the average trading volume of 6.03M shares, MGM reached a trading volume of 3764898 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $51.84 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 2.20. 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 1.22, with the Price to Sales ratio for MGM stock in the period of the last 12 months amounting to 1.24. The Price to Book ratio for the last quarter was 2.89, with the Price to Cash per share for the same quarter was set at 6.65. Price to Free Cash Flow for MGM in the course of the last twelve months was 9.91 with Quick ratio for the last quarter at 1.20.

How has MGM stock performed recently?

MGM Resorts International [MGM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 10.46. With this latest performance, MGM shares gained by 10.20% in over the last four-week period, additionally sinking by -22.61% over the last 6 months – not to mention a drop of -11.53% 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 62.09, with the RSI for the last a single of trading hit 70.16, and the three-weeks RSI is set at 56.16 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 31.11, while it was recorded at 32.53 for the last single week of trading, and 39.88 for the last 200 days.

MGM Resorts International [MGM]: Deeper insight into the 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.

Insider trade positions for MGM Resorts International [MGM]

There are presently around $9,582 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 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 $839.61 million in MGM stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $565.4 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 279 institutional holders increased their position in MGM Resorts International [NYSE:MGM] by around 18,698,345 shares. Additionally, 364 investors decreased positions by around 41,890,448 shares, while 122 investors held positions by with 229,262,054 shares. The mentioned changes placed institutional holdings at 289,850,847 shares, according to the latest SEC report filing. MGM stock had 78 new institutional investments in for a total of 8,327,464 shares, while 98 institutional investors sold positions of 5,589,596 shares during the same period.

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