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

MGM Resorts International [NYSE: MGM] jumped around 0.63 points on Tuesday, while shares priced at $36.17 at the close of the session, up 1.77%. The company report on August 10, 2022 that BetMGM Taps Actor Jerry Ferrara as Celebrity Brand Ambassador and Content Creator.


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Ferrara to co-host weekly sports podcast, partner in marketing campaigns and participate in fan events.

BetMGM, a leading sports betting and iGaming operator, announced today the signing of actor Jerry Ferrara as a celebrity brand ambassador and its newest podcast host. The breakout star and avid sports fan will co-host Unleashed, BetMGM’s weekly sports podcast, participate in future BetMGM fan events and will be featured in upcoming BetMGM marketing campaigns.

MGM Resorts International stock is now -19.41% down from its year-to-date (YTD) trading value. MGM Stock saw the intraday high of $36.335 and lowest of $35.4401 per share. The company’s 52-week high price is 51.17, which means current price is +36.96% above from all time high which was touched on 02/10/22.

Compared to the average trading volume of 5.69M shares, MGM reached a trading volume of 4296371 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 $52.34 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 1.13, with the Price to Sales ratio for MGM stock in the period of the last 12 months amounting to 1.17. The Price to Book ratio for the last quarter was 2.63, with the Price to Cash per share for the same quarter was set at 15.01. Price to Free Cash Flow for MGM in the course of the last twelve months was 10.31 with Quick ratio for the last quarter at 1.60.

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 6.63. With this latest performance, MGM shares gained by 22.57% in over the last four-week period, additionally sinking by -18.99% over the last 6 months – not to mention a drop of -8.24% 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 69.10, with the RSI for the last a single of trading hit 74.97, and the three-weeks RSI is set at 63.23 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 31.31, while it was recorded at 35.34 for the last single week of trading, and 39.25 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 1.60 and a Current Ratio set at 1.70.

Insider trade positions for MGM Resorts International [MGM]

There are presently around $9,898 million, or 77.20% of MGM stock, in the hands of institutional investors. The top three institutional holders of MGM stocks are: VANGUARD GROUP INC with ownership of 38,404,663, which is approximately -8.122% of the company’s market cap and around 16.70% of the total institutional ownership; BLACKROCK INC., holding 24,198,589 shares of the stock with an approximate value of $875.26 million in MGM stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $738.76 million in MGM stock with ownership of nearly 19.427% 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 271 institutional holders increased their position in MGM Resorts International [NYSE:MGM] by around 24,632,401 shares. Additionally, 381 investors decreased positions by around 39,673,611 shares, while 103 investors held positions by with 209,345,254 shares. The mentioned changes placed institutional holdings at 273,651,266 shares, according to the latest SEC report filing. MGM stock had 58 new institutional investments in for a total of 6,112,054 shares, while 129 institutional investors sold positions of 13,513,444 shares during the same period.

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