Why MGM Resorts International [MGM] A good pick for investors after the new price target of $49.54


MGM Resorts International [NYSE: MGM] Shares fell nearly -0.29 points on Tuesday, ending the session at $35.47, down -0.81%. The company reported on November 22, 2022 that BETMGM supports a new research initiative on the impact of advertising on problem gambling.


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Leading gaming operator partners with the International Center for Responsible Gaming.

The International Center for Responsible Gaming (ICRG) announced that it has received a $180,000 grant from BetMGM, a leading sports betting and iGaming company, in support of the organization’s research and education on responsible gambling and advertising on problem gambling. There is influence.

MGM Resorts International stock is now down -20.97% from its Year-to-date (YTD) trading price. MGM stock saw an intraday high of $35.73 and a low of $35.01 per share. The company’s 52-week high price is 49.00, which means the current price is +34.31% higher than the high touched on 02/10/22.

Compared to the average trading volume of 5.52M shares, MGM reached a trading volume of 5383355 in the most recent trading day, which is why market watchdogs consider the stock as active.

What top market gurus say about MGM Resorts International [MGM],

Based on careful and fact-backed analyzes by Wall Street experts, the current consensus on the target price for MGM shares is $49.54 per share. Target prices and analysis on the performance of stocks are usually carefully studied by market experts, and the current Wall Street consensus on MGM stock is a recommendation at 2.20. This rating represents a strong buy recommendation on a scale of 1 to 5, where 5 means strong sell, 4 represents sell, 3 indicates hold and 2 indicates buy.

Morgan Stanley has an outlook for MGM Resorts International shares on November 21, 2022, keeping its view on the stock as equal-weight, in line with its previous recommendation. The new note on price target was issued on September 08, 2022, which reflects the official price target for MGM Resorts International stock. Earlier, the target price was once again raised to $55, while analysts at JMP Securities maintained a market outperform rating on the MGM stock.

The Average True Range (ATR) for MGM Resorts International is set at 1.50, The Price to Sales ratio for MGM stock over the trailing 12 months period is 1.09. The Price to Book ratio for the previous quarter was 2.88, the Price to Cash per share for the corresponding quarter was set at 13.68. Price to Free Cash Flow for MGM during the trailing twelve months was 11.93, with a quick ratio of 1.50 for the last quarter.

How has MGM stock performed recently?

MGM Resorts International [MGM] It fell into the red zone at the end of last week, fell into a negative trend and fell -5.39. With this latest performance, MGM shares are up 4.42% over the past four-week period, as well as down 14.01% over the past 6 months — not to mention a -20.36% decline over the past year of trading.

Overbought and oversold stocks can be easily detected with the Relative Strength Index (RSI), where an RSI result of over 70 will result in overbought, and any rate below 30 will indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MGM stock for the past two-week period is set at 52.77, with the RSI last single trading hit at 49.61, and the three-week RSI for MGM Resorts International is set at 53.52. [MGM], The current moving average of this stock for last 50 days of trade is 33.42, while it was recorded at 36.41 for last one week and 35.72 for last 200 days.

MGM Resorts International [MGM]: Deep Insight into the Fundamentals

The operating margin for any stock indicates how profitable an investment will be, and MGM Resorts International [MGM] The shares currently have an operating margin of +5.82 and gross margin at +36.15. The Net Margin of MGM Resorts International is currently recorded at +12.15.

The Return on Equity for this stock is tilted at 18.70, with the Return on Assets sitting at 2.83.

MGM Resorts International’s liquidity data is equally intriguingly compelling, with a quick ratio set at 1.50 and a current ratio at 1.50.

Insider Trade Positions for MGM Resorts International [MGM]

Institutional investors currently hold approximately $9,309 million, or 68.80%, of MGM stock. The top three institutional holders of MGM stock are: Vanguard Group Inc with ownership of 35,442,775, which is approximately -7.712% of the company’s market cap and approximately 17.50% of total institutional ownership; BlackRock Inc. holds 22,695,976 shares of stock in MGM stock shares with an approximate value of $805.03 million; and T. Rowe Price Investment Management, INC., currently owning $644.77 million in MGM stock, bringing the company’s new market capitalization to approx.

Shares positions held by institutional investors in MGM Resorts International increased at the end of November and during the November reporting period, where 259 institutional holders increased their positions in MGM Resorts International [NYSE:MGM] By approximately 44,231,535 shares. Additionally, 319 investors reduced positions by approximately 51,464,945 shares, while 122 investors held positions totaling 166,763,994 shares. As per the latest SEC report filing, the mentioned changes put the institutional holding at 262,460,474 shares. There were 81 new institutional investments in MGM stock for a total of 27,316,820 shares, while 64 institutional investors sold 3,150,599 shares during the same period.

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