MGM Resorts International [NYSE: MGM] price plunged by -1.92 percent to reach at -$0.79. The company report on September 12, 2023 at 10:30 PM that MGM RESORTS INTERNATIONAL STATEMENT ON CYBERSECURITY ISSUE.
MGM Resorts International (the “Company” or “MGM Resorts”) today issued the following statement:.
“MGM Resorts recently identified a cybersecurity issue affecting certain of the Company’s systems. Promptly after detecting the issue, we began an investigation with assistance from leading external cybersecurity experts. We also notified law enforcement and are taking steps to protect our systems and data, including shutting down certain systems. Our investigation is ongoing, and we are working diligently to resolve the matter. The Company will continue to implement measures to secure its business operations and take additional steps as appropriate.”.
A sum of 5303035 shares traded at recent session while its average daily volume was at 4.58M shares. MGM Resorts International shares reached a high of $41.16 and dropped to a low of $40.20 until finishing in the latest session at $40.29.
The one-year MGM stock forecast points to a potential upside of 30.23. The average equity rating for MGM stock is currently 2.10, trading closer to a bullish pattern in the stock market.
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 $57.75 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.
Morgan Stanley have made an estimate for MGM Resorts International shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on July 14, 2023.
The Average True Range (ATR) for MGM Resorts International is set at 1.02, with the Price to Sales ratio for MGM stock in the period of the last 12 months amounting to 0.97. The Price to Book ratio for the last quarter was 3.29, with the Price to Cash per share for the same quarter was set at 10.82. Price to Free Cash Flow for MGM in the course of the last twelve months was 11.73 with Quick ratio for the last quarter at 2.00.
MGM Stock Performance Analysis:
MGM Resorts International [MGM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -5.64. With this latest performance, MGM shares dropped by -5.31% in over the last four-week period, additionally sinking by -2.33% over the last 6 months – not to mention a rise of 17.02% 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 29.36, with the RSI for the last a single of trading hit 22.95, and the three-weeks RSI is set at 34.34 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 45.55, while it was recorded at 41.28 for the last single week of trading, and 42.28 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 2.00 and a Current Ratio set at 2.00.
MGM Resorts International [MGM] Institutonal Ownership Details
The top three institutional holders of MGM stocks are: VANGUARD GROUP INC with ownership of 1.31 billion shares, which is approximately 8.2089%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $170.67 trillion in MGM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $150.98 trillion in MGM stock with ownership which is approximately 5.7381%.