Market cap of MGM Resorts International [MGM] reaches 13.68B – now what?

MGM Resorts International [NYSE: MGM] surged by $0.32 during the normal trading session on Monday and reaching a high of $37.79 during the day while it closed the day at $36.95. The company report on November 10, 2022 that MGM RESORTS UNVEILS EPIC BELLAGIO FOUNTAINS GRANDSTANDS FOR FORMULA 1 HEINEKEN SILVER LAS VEGAS GRAND PRIX 2023.

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Room and Race Ticket Packages Now Available for Purchase for F1® Event November 16-18, 2023.

MGM Resorts International will construct one of the world’s most exclusive live sports-viewing experiences for the FORMULA 1 HEINEKEN SILVER LAS VEGAS GRAND PRIX 2023, offering guests the opportunity to witness the race from grandstands built on the Bellagio lake where the resort’s iconic Fountains dance daily.

MGM Resorts International stock has also gained 8.07% of its value over the past 7 days. However, MGM stock has inclined by 2.16% in the 3 months of the year. Over the past six months meanwhile, it has gained 5.36% and lost -17.67% year-on date.

The market cap for MGM stock reached $13.68 billion, with 393.30 million shares outstanding and 306.13 million shares in the current float. Compared to the average trading volume of 5.49M shares, MGM reached a trading volume of 6369813 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 $49.54 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 1.62, with the Price to Sales ratio for MGM stock in the period of the last 12 months amounting to 1.09. The Price to Book ratio for the last quarter was 3.00, with the Price to Cash per share for the same quarter was set at 14.30. Price to Free Cash Flow for MGM in the course of the last twelve months was 11.88 with Quick ratio for the last quarter at 1.50.

MGM stock trade performance evaluation

MGM Resorts International [MGM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.07. With this latest performance, MGM shares gained by 20.59% in over the last four-week period, additionally plugging by 5.36% over the last 6 months – not to mention a drop of -18.05% 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 62.28, with the RSI for the last a single of trading hit 65.43, and the three-weeks RSI is set at 59.89 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 33.14, while it was recorded at 35.39 for the last single week of trading, and 35.94 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 1.50 and a Current Ratio set at 1.50.

MGM Resorts International [MGM]: Insider Ownership positions

There are presently around $9,867 million, or 74.50% of MGM stock, in the hands of institutional investors. The top three institutional holders of MGM stocks are: VANGUARD GROUP INC with ownership of 35,442,775, which is approximately -7.712% of the company’s market cap and around 17.50% of the total institutional ownership; BLACKROCK INC., holding 22,695,976 shares of the stock with an approximate value of $838.62 million in MGM stocks shares; and T. ROWE PRICE INVESTMENT MANAGEMENT, INC., currently with $671.68 million in MGM stock with ownership of nearly New of the company’s market capitalization.

Positions in MGM Resorts International stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 266 institutional holders increased their position in MGM Resorts International [NYSE:MGM] by around 45,748,407 shares. Additionally, 313 investors decreased positions by around 48,257,974 shares, while 120 investors held positions by with 173,034,433 shares. The mentioned changes placed institutional holdings at 267,040,814 shares, according to the latest SEC report filing. MGM stock had 79 new institutional investments in for a total of 27,321,959 shares, while 64 institutional investors sold positions of 3,009,582 shares during the same period.


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