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Is a Correction Looming Ahead for MGM Resorts International (MGM)

MGM Resorts International (NYSE:MGM) went down by -3.11% from its latest closing price compared to the recent 1-year high of $51.17. The company’s stock price has collected -4.85% of loss in the last five trading sessions. The Wall Street Journal reported on 08/22/22 that MGM China Pumps $594 Million Into Macau Casino Unit Ahead of License Bid

Is It Worth Investing in MGM Resorts International (NYSE :MGM) Right Now?

MGM Resorts International (NYSE:MGM) scored a price-to-earnings ratio above its average ratio, recording 4.67 x from its present earnings ratio. Plus, the 36-month beta value for MGM is at 2.10. Opinions of the stock are interesting as 9 analysts out of 18 who provided ratings for MGM Resorts International declared the stock was a “buy,” while 3 rated the stock as “overweight,” 6 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $52.34, which is $18.62 above the current price. MGM currently public float of 315.36M and currently shorts hold a 5.79% ratio of that float. Today, the average trading volume of MGM was 5.05M shares.

MGM’s Market Performance

MGM stocks went down by -4.85% for the week, with a monthly drop of -4.71% and a quarterly performance of 21.80%, while its annual performance rate touched -19.23%. The volatility ratio for the week stands at 3.99% while the volatility levels for the past 30 days are set at 3.51% for MGM Resorts International. The simple moving average for the period of the last 20 days is -1.94% for MGM stocks with a simple moving average of -12.25% for the last 200 days.

Analysts’ Opinion of MGM

JMP Securities, on the other hand, stated in their research note that they expect to see MGM reach a price target of $55. The rating they have provided for MGM stocks is “Mkt Outperform” according to the report published on June 28th, 2022.

JP Morgan gave a rating of “Overweight” to MGM, setting the target price at $53 in the report published on May 03rd of the current year.

MGM Trading at 1.40% from the 50-Day Moving Average

After a stumble in the market that brought MGM to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -34.81% of loss for the given period.

Volatility was left at 3.51%, however, over the last 30 days, the volatility rate increased by 3.99%, as shares sank -6.34% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +12.13% upper at present.

During the last 5 trading sessions, MGM fell by -4.85%, which changed the moving average for the period of 200-days by -15.72% in comparison to the 20-day moving average, which settled at $33.91. In addition, MGM Resorts International saw -25.67% in overturn over a single year, with a tendency to cut further losses.

Insider Trading

Reports are indicating that there were more than several insider trading activities at MGM starting from Swartz Janet, who purchase 14,230 shares at the price of $35.05 back on Aug 25. After this action, Swartz Janet now owns 19,858 shares of MGM Resorts International, valued at $498,784 using the latest closing price.

IAC Inc., the 10% Owner of MGM Resorts International, purchase 51,100 shares at $34.41 during a trade that took place back on Aug 23, which means that IAC Inc. is holding 64,723,602 shares at $1,758,351 based on the most recent closing price.

Stock Fundamentals for MGM

Current profitability levels for the company are sitting at:

  • +5.82 for the present operating margin
  • +36.15 for the gross margin

The net margin for MGM Resorts International stands at +12.15. Equity return is now at value 53.90, with 7.50 for asset returns.

The liquidity ratio also appears to be rather interesting for investors as it stands at 1.86.

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