MGM Resorts International [NYSE: MGM] traded at a low on Tuesday, posting a -0.08 loss after which it closed the day’ session at $38.01.
The results of the trading session contributed to over 3211272 shares changing hands. Over the past one week, the price volatility of MGM Resorts International stands at 2.29% while the volatility over the past one month is 3.02%.
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The market cap for MGM stock reached $11.55 billion, with 326.55 million shares outstanding and 238.31 million shares in the current float. Compared to the average trading volume of 4.26M shares, MGM reached a trading volume of 3211272 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 $55.05 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 1.50. 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.
BTIG Research have made an estimate for MGM Resorts International shares, keeping their opinion on the stock as Buy, with their previous recommendation back on July 03, 2024. The new note on the price target was released on May 02, 2024, representing the official price target for MGM Resorts International stock. Previously, the target price had yet another raise to $56, while Seaport Research Partners analysts kept a Buy rating on MGM stock.
The Average True Range (ATR) for MGM Resorts International is set at 1.21, with the Price to Sales ratio for MGM stock in the period of the last 12 months amounting to 0.68. The Price to Book ratio for the last quarter was 3.61, with the Price to Cash per share for the same quarter was set at 7.95. Price to Free Cash Flow for MGM in the course of the last twelve months was 7.89 with Quick ratio for the last quarter at 1.42.
How has MGM stock performed recently?
MGM Resorts International [MGM] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.53. With this latest performance, MGM shares dropped by -11.15% in over the last four-week period, additionally sinking by -9.50% over the last 6 months – not to mention a drop of -9.86% 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 42.51, with the RSI for the last a single of trading hit 41.73, and the three-weeks RSI is set at 43.16 for MGM Resorts International [MGM]. The present Moving Average for the last 50 days of trading for this stock 41.27, while it was recorded at 38.64 for the last single week of trading, and 42.20 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 1.42 and a Current Ratio set at 1.47.
Earnings analysis for MGM Resorts International [MGM]
With the latest financial reports released by the company, MGM Resorts International posted 0.64/share EPS, while the average EPS was predicted by analysts to be reported at 0.49/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.15. 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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for MGM Resorts International go to -2.63%.
Insider trade positions for MGM Resorts International [MGM]
There are presently around $67.75%, or 87.10%% of MGM stock, in the hands of institutional investors. The top three institutional holders of MGM stocks are: VANGUARD GROUP INC with ownership of 27.95 million shares, which is approximately 8.7212%. BLACKROCK INC., holding 21.56 million shares of the stock with an approximate value of $$958.15 million in MGM stocks shares; and BLACKROCK INC., currently with $$529.35 million in MGM stock with ownership which is approximately 3.7167%.
