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MGM Resorts International (MGM) and the Battle of Fundamentals vs. Technicals

MGM Resorts International (NYSE:MGM) went up by 2.18% from its latest closing price compared to the recent 1-year high of $49.00. The company’s stock price has collected 0.91% of gains in the last five trading sessions. Barron’s reported on 11/28/22 that Wynn, Casino Stocks Rise on Macau License Renewals. One Risk Down, One to Go.

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 13.64 x from its present earnings ratio. Plus, the 36-month beta value for MGM is at 2.05. Opinions of the stock are interesting as 12 analysts out of 18 who provided ratings for MGM Resorts International declared the stock was a “buy,” while 2 rated the stock as “overweight,” 4 rated it as “hold,” and 0 as “sell.”

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The average price from analysts is $50.97, which is $10.14 above the current price. MGM currently public float of 306.13M and currently shorts hold a 3.54% ratio of that float. Today, the average trading volume of MGM was 4.64M shares.

MGM’s Market Performance

MGM stocks went up by 0.91% for the week, with a monthly jump of 16.09% and a quarterly performance of 22.92%, while its annual performance rate touched -3.97%. The volatility ratio for the week stands at 2.49% while the volatility levels for the past 30 days are set at 2.93% for MGM Resorts International. The simple moving average for the period of the last 20 days is 10.16% for MGM stocks with a simple moving average of 15.79% for the last 200 days.

Analysts’ Opinion of MGM

Many brokerage firms have already submitted their reports for MGM stocks, with Stifel repeating the rating for MGM by listing it as a “Buy.” The predicted price for MGM in the upcoming period, according to Stifel is $46 based on the research report published on January 06th of the current year 2023.

Truist, on the other hand, stated in their research note that they expect to see MGM reach a price target of $50, previously predicting the price at $40. The rating they have provided for MGM stocks is “Buy” according to the report published on December 05th, 2022.

Morgan Stanley gave a rating of “Equal-Weight” to MGM, setting the target price at $39 in the report published on November 21st of the previous year.

MGM Trading at 10.16% 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 -18.57% of loss for the given period.

Volatility was left at 2.93%, however, over the last 30 days, the volatility rate increased by 2.49%, as shares surge +15.42% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +15.69% upper at present.

During the last 5 trading sessions, MGM rose by +0.91%, which changed the moving average for the period of 200-days by -4.22% in comparison to the 20-day moving average, which settled at $36.49. In addition, MGM Resorts International saw 19.00% in overturn over a single year, with a tendency to cut further gains.

Insider Trading

Reports are indicating that there were more than several insider trading activities at MGM starting from SANDERS COREY IAN, who sale 10,000 shares at the price of $38.00 back on Jan 09. After this action, SANDERS COREY IAN now owns 291,498 shares of MGM Resorts International, valued at $380,000 using the latest closing price.

SANDERS COREY IAN, the CHIEF OPERATING OFFICER of MGM Resorts International, sale 10,000 shares at $36.00 during a trade that took place back on Jan 06, which means that SANDERS COREY IAN is holding 301,498 shares at $360,000 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 23.60, with 2.90 for asset returns.

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

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