MGM Resorts International [MGM] Is Currently -3.05 below its 200 Period Moving Avg: What Does This Mean?

MGM Resorts International [NYSE: MGM] loss -3.05% or -1.29 points to close at $41.04 with a heavy trading volume of 6498041 shares. The company report on March 14, 2023 that BORGATA HOTEL CASINO & SPA ANNOUNCES $55 MILLION TOWER REMODEL.

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The Water Club to be Rebranded the MGM Tower and Deliver Luxurious New Room and Suite Experiences.

It opened the trading session at $41.06, the shares rose to $41.41 and dropped to $39.98, the range by which the price of stock traded the whole day. The daily chart for MGM points out that the company has recorded 21.17% gains over the past six months. However, it is still -55.4% lower than its most recent low trading price.

If we look at the average trading volume of 4.15M shares, MGM reached to a volume of 6498041 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 $54.48 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.

Barclays have made an estimate for MGM Resorts International shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on February 24, 2023. While these analysts kept the previous recommendation, Stifel raised their target price from $42 to $46. The new note on the price target was released on January 06, 2023, representing the official price target for MGM Resorts International stock. Previously, the target price had yet another raise from $40 to $50, while Truist kept a Buy rating on MGM stock.

The Average True Range (ATR) for MGM Resorts International is set at 1.33, 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 3.26, with the Price to Cash per share for the same quarter was set at 15.63. Price to Free Cash Flow for MGM in the course of the last twelve months was 16.15 with Quick ratio for the last quarter at 1.80.

Trading performance analysis for MGM stock

MGM Resorts International [MGM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.16. With this latest performance, MGM shares dropped by -6.98% in over the last four-week period, additionally plugging by 21.17% over the last 6 months – not to mention a rise of 5.77% 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 40.53, with the RSI for the last a single of trading hit 33.00, and the three-weeks RSI is set at 45.86 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 41.41, while it was recorded at 42.19 for the last single week of trading, and 35.27 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 -13.07 and a Gross Margin at +22.80. MGM Resorts International’s Net Margin is presently recorded at +10.98.

Return on Equity for this stock inclined to 26.44, with Return on Assets sitting at 3.01.

MGM Resorts International’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.80 and a Current Ratio set at 1.80.

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

There are presently around $10,425 million, or 68.60% of MGM stock, in the hands of institutional investors. The top three institutional holders of MGM stocks are: VANGUARD GROUP INC with ownership of 34,064,558, which is approximately -3.889% of the company’s market cap and around 17.50% of the total institutional ownership; BLACKROCK INC., holding 21,975,943 shares of the stock with an approximate value of $901.89 million in MGM stocks shares; and T. ROWE PRICE INVESTMENT MANAGEMENT, INC., currently with $873.17 million in MGM stock with ownership of nearly 17.043% of the company’s market capitalization.

Positions in MGM Resorts International stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 257 institutional holders increased their position in MGM Resorts International [NYSE:MGM] by around 24,739,510 shares. Additionally, 338 investors decreased positions by around 29,422,416 shares, while 122 investors held positions by with 199,857,885 shares. The mentioned changes placed institutional holdings at 254,019,811 shares, according to the latest SEC report filing. MGM stock had 92 new institutional investments in for a total of 7,145,561 shares, while 64 institutional investors sold positions of 6,084,888 shares during the same period.


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