MGM Resorts International [MGM] Stock trading around $33.59 per share: What’s Next?

MGM Resorts International [NYSE: MGM] gained 2.50% on the last trading session, reaching $33.59 price per share at the time. The company report on September 6, 2022 that BetMGM Debuts “IT’S ON” Advertising Campaign Featuring Star-Studded Cast.


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Jamie Foxx, Vanessa Hudgens and Sports Icons Star in Betting Operator’s New Campaign.

BetMGM, a leading sports betting and iGaming operator, premiered its new commercial campaign today on a variety of social media platforms. “IT’S ON” features a star-studded cast of actors and athletes, all BetMGM ambassadors, within an episodic series. The campaign is scheduled to make its national television debut Thursday, Sept. 8 during Thursday Night Football.

MGM Resorts International represents 417.39 million in outstanding shares, while the company has a total market value of $13.04 billion with the latest information. MGM stock price has been found in the range of $32.68 to $33.76.

If compared to the average trading volume of 5.12M shares, MGM reached a trading volume of 4074578 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 $52.05 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 1.20, with the Price to Sales ratio for MGM stock in the period of the last 12 months amounting to 1.10. The Price to Book ratio for the last quarter was 2.44, with the Price to Cash per share for the same quarter was set at 14.90. Price to Free Cash Flow for MGM in the course of the last twelve months was 9.64 with Quick ratio for the last quarter at 1.60.

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 1.91. With this latest performance, MGM shares dropped by -2.64% in over the last four-week period, additionally sinking by -10.74% over the last 6 months – not to mention a drop of -22.67% 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 50.81, with the RSI for the last a single of trading hit 50.27, and the three-weeks RSI is set at 51.18 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 32.31, while it was recorded at 32.86 for the last single week of trading, and 38.27 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 1.60 and a Current Ratio set at 1.70.

An analysis of insider ownership at MGM Resorts International [MGM]

There are presently around $9,191 million, or 72.70% of MGM stock, in the hands of institutional investors. The top three institutional holders of MGM stocks are: VANGUARD GROUP INC with ownership of 38,404,663, which is approximately -8.122% of the company’s market cap and around 17.10% of the total institutional ownership; BLACKROCK INC., holding 24,198,589 shares of the stock with an approximate value of $812.83 million in MGM stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $686.06 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 270 institutional holders increased their position in MGM Resorts International [NYSE:MGM] by around 24,653,398 shares. Additionally, 382 investors decreased positions by around 39,772,025 shares, while 104 investors held positions by with 209,203,979 shares. The mentioned changes placed institutional holdings at 273,629,402 shares, according to the latest SEC report filing. MGM stock had 59 new institutional investments in for a total of 6,127,739 shares, while 129 institutional investors sold positions of 13,510,478 shares during the same period.

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