Market cap of MGM Resorts International [MGM] reaches 14.03B – now what?

MGM Resorts International [NYSE: MGM] gained 0.61% or 0.21 points to close at $34.57 with a heavy trading volume of 5679467 shares. The company report on September 20, 2022 that ARIA Resort & Casino Welcomes Proper Eats, an Elevated Food Hall, to Renowned Culinary Portfolio this Winter.

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Exceptional Global Cuisine and Exquisite DesignUnite at New Culinary Destination on the Las Vegas Strip.

Industry trendsetter Clique Hospitality will bring together a collection of highly sought-after imports and only-in-Las Vegas destinations with Proper Eats, an elevated food hall serving eclectic cocktails and global cuisine opening in early winter. Set to the stunning architectural design of Alessandro Munge, Proper Eats will span 24,000 square feet on the second level promenade of ARIA Resort & Casino.

It opened the trading session at $34.45, the shares rose to $34.885 and dropped to $34.13, the range by which the price of stock traded the whole day. The daily chart for MGM points out that the company has recorded -17.36% loss over the past six months. However, it is still -30.9% lower than its most recent low trading price.

If we look at the average trading volume of 4.96M shares, MGM reached to a volume of 5679467 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 $51.98 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.

Argus have made an estimate for MGM Resorts International shares, keeping their opinion on the stock as Hold, with their previous recommendation back on September 08, 2022. While these analysts kept the previous recommendation, JMP Securities raised their target price to Mkt Outperform. The new note on the price target was released on June 28, 2022, representing the official price target for MGM Resorts International stock. Previously, the target price had yet another raise to $53, while JP Morgan analysts kept a Overweight rating on MGM stock. On March 18, 2022, analysts increased their price target for MGM shares from 36 to 45.

The Average True Range (ATR) for MGM Resorts International is set at 1.27, with the Price to Sales ratio for MGM stock in the period of the last 12 months amounting to 1.18. The Price to Book ratio for the last quarter was 2.52, with the Price to Cash per share for the same quarter was set at 14.26. Price to Free Cash Flow for MGM in the course of the last twelve months was 10.37 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 2.07. With this latest performance, MGM shares dropped by -0.46% in over the last four-week period, additionally sinking by -17.36% over the last 6 months – not to mention a drop of -16.25% 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 53.64, with the RSI for the last a single of trading hit 54.27, and the three-weeks RSI is set at 53.26 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 33.20, while it was recorded at 34.15 for the last single week of trading, and 37.93 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 $9,459 million, or 72.60% 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 $836.54 million in MGM stocks shares; and PRICE T ROWE ASSOCIATES INC /MD/, currently with $706.08 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 24,654,053 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 273,630,057 shares, according to the latest SEC report filing. MGM stock had 60 new institutional investments in for a total of 6,128,394 shares, while 129 institutional investors sold positions of 13,510,478 shares during the same period.


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