MGM Resorts International [MGM] stock Initiated by HSBC Securities analyst, price target now $49

MGM Resorts International [NYSE: MGM] slipped around -0.19 points on Wednesday, while shares priced at $42.86 at the close of the session, down -0.44%. The company report on January 18, 2024 at 2:00 PM that Tom Brady, Wayne Gretzky and Vince Vaughn Tease First-Ever BetMGM Big Game Commercial.

Teasers now live on social channels as part of BetMGM’s broader Las Vegas-centric campaign.

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BetMGM, a leading sports betting and iGaming operator, debuted the first of a three-part, star-studded teaser campaign this morning, promoting the company’s first-ever Big Game television spot. Featuring the never-before-seen pairing of Tom Brady and Wayne Gretzky, along with actor Vince Vaughn, the upcoming series marks a monumental moment for BetMGM.

Compared to the average trading volume of 4.61M shares, MGM reached a trading volume of 3817286 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $54.53 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 1.58. 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.

HSBC Securities have made an estimate for MGM Resorts International shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 23, 2023.

The Average True Range (ATR) for MGM Resorts International is set at 1.13, with the Price to Sales ratio for MGM stock in the period of the last 12 months amounting to 0.95. The Price to Book ratio for the last quarter was 3.68, with the Price to Cash per share for the same quarter was set at 9.71. Price to Free Cash Flow for MGM in the course of the last twelve months was 9.80 with Quick ratio for the last quarter at 1.73.

How has MGM stock performed recently?

MGM Resorts International [MGM] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.95. With this latest performance, MGM shares dropped by -3.66% in over the last four-week period, additionally sinking by -13.78% over the last 6 months – not to mention a rise of 7.42% 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 48.81, with the RSI for the last a single of trading hit 46.36, and the three-weeks RSI is set at 50.85 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 42.27, while it was recorded at 42.87 for the last single week of trading, and 42.13 for the last 200 days.

MGM Resorts International [MGM]: Deeper insight into the fundamentals

MGM Resorts International’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.73 and a Current Ratio set at 1.78.

Earnings analysis for MGM Resorts International [MGM]

With the latest financial reports released by the company, MGM Resorts International posted -1.53/share EPS, while the average EPS was predicted by analysts to be reported at -1.36/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -12.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MGM.

Insider trade positions for MGM Resorts International [MGM]

The top three institutional holders of MGM stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in MGM stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in MGM stock with ownership which is approximately 5.8325%.