MGM Resorts International [MGM] Stock trading around $43.08 per share: What’s Next?

MGM Resorts International [NYSE: MGM] stock went on an upward path that rose over 3.04% on Wednesday, amounting to a one-week price increase of more than 3.58%. The company report on March 14, 2023 that BORGATA HOTEL CASINO & SPA ANNOUNCES $55 MILLION TOWER REMODEL.

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Over the last 12 months, MGM stock rose by 2.11%. The one-year MGM Resorts International stock forecast points to a potential upside of 20.93. The average equity rating for MGM stock is currently 2.10, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $16.16 billion, with 383.75 million shares outstanding and 306.13 million shares in the current float. Compared to the average trading volume of 4.26M shares, MGM stock reached a trading volume of 3414571 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 1.31, with the Price to Sales ratio for MGM stock in the period of the last 12 months amounting to 1.23. The Price to Book ratio for the last quarter was 3.42, with the Price to Cash per share for the same quarter was set at 15.76. Price to Free Cash Flow for MGM in the course of the last twelve months was 16.80 with Quick ratio for the last quarter at 1.80.

MGM Stock Performance Analysis:

MGM Resorts International [MGM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.58. With this latest performance, MGM shares gained by 0.16% in over the last four-week period, additionally plugging by 43.70% over the last 6 months – not to mention a rise of 2.11% 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 54.44, with the RSI for the last a single of trading hit 57.48, and the three-weeks RSI is set at 54.22 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 42.30, while it was recorded at 41.79 for the last single week of trading, and 35.63 for the last 200 days.

Insight into MGM Resorts International Fundamentals:

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 Total Capital for MGM is now -4.55, given the latest momentum, and Return on Invested Capital for the company is 4.29. Return on Equity for this stock inclined to 26.44, with Return on Assets sitting at 3.01. When it comes to the capital structure of this company, MGM Resorts International [MGM] has a Total Debt to Total Equity ratio set at 705.43. Additionally, MGM Total Debt to Total Capital is recorded at 87.58, with Total Debt to Total Assets ending up at 65.95. Long-Term Debt to Equity for the company is recorded at 676.19, with the Long-Term Debt to Total Capital now at 83.95.

Reflecting on the efficiency of the workforce at the company, MGM Resorts International [MGM] managed to generate an average of $31,331 per employee. Receivables Turnover for the company is 14.73 with a Total Asset Turnover recorded at a value of 0.27.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.

MGM Resorts International [MGM] Insider Position Details

There are presently around $10,621 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 $918.81 million in MGM stocks shares; and T. ROWE PRICE INVESTMENT MANAGEMENT, INC., currently with $889.56 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 256 institutional holders increased their position in MGM Resorts International [NYSE:MGM] by around 24,738,085 shares. Additionally, 340 investors decreased positions by around 29,423,909 shares, while 122 investors held positions by with 199,871,239 shares. The mentioned changes placed institutional holdings at 254,033,233 shares, according to the latest SEC report filing. MGM stock had 91 new institutional investments in for a total of 7,144,136 shares, while 65 institutional investors sold positions of 6,086,313 shares during the same period.


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