MGM Resorts International (NYSE: MGM) has a higher price-to-earnings ratio of 14.62x compared to its average ratio. MGM has 36-month beta value of 2.20. Analysts have mixed views on the stock, with 9 analysts rating it as a “buy,” 4 as “overweight,” 4 as “hold,” and 0 as “sell.”
The public float for MGM is 250.28M, and currently, short sellers hold a 5.47% ratio of that float. The average trading volume of MGM on April 09, 2024 was 4.00M shares.
MGM) stock’s latest price update
MGM Resorts International (NYSE: MGM) has seen a decline in its stock price by -0.49 in relation to its previous close of 46.53. However, the company has experienced a -3.10% decline in its stock price over the last five trading sessions. InvestorPlace reported 2024-04-08 that While the market continues to impress – most recently thanks to another robust jobs report – the usual suspects appear overpriced, which brings us to undervalued stocks. Yes, it might seem like every idea is overbought.
MGM’s Market Performance
MGM Resorts International (MGM) has seen a -3.10% fall in stock performance for the week, with a 7.90% gain in the past month and a 3.28% surge in the past quarter. The volatility ratio for the week is 2.37%, and the volatility levels for the past 30 days are at 2.17% for MGM. The simple moving average for the last 20 days is 3.23% for MGM stock, with a simple moving average of 8.98% for the last 200 days.
Analysts’ Opinion of MGM
Many brokerage firms have already submitted their reports for MGM stocks, with Mizuho repeating the rating for MGM by listing it as a “Buy.” The predicted price for MGM in the upcoming period, according to Mizuho is $61 based on the research report published on March 26, 2024 of the current year 2024.
HSBC Securities, on the other hand, stated in their research note that they expect to see MGM reach a price target of $49. The rating they have provided for MGM stocks is “Buy” according to the report published on October 23rd, 2023.
CapitalOne gave a rating of “Overweight” to MGM, setting the target price at $50 in the report published on October 12th of the previous year.
MGM Trading at 5.05% 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 -9.83% of loss for the given period.
Volatility was left at 2.17%, however, over the last 30 days, the volatility rate increased by 2.37%, as shares surge +9.02% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +6.14% upper at present.
During the last 5 trading sessions, MGM fell by -3.10%, which changed the moving average for the period of 200-days by +7.85% in comparison to the 20-day moving average, which settled at $45.04. In addition, MGM Resorts International saw 3.63% 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 Meister Keith A., who sale 100,000 shares at the price of $42.98 back on Mar 13 ’24. After this action, Meister Keith A. now owns 5,998,778 shares of MGM Resorts International, valued at $4,298,000 using the latest closing price.
Meister Keith A., the Director of MGM Resorts International, sale 325,000 shares at $42.90 during a trade that took place back on Mar 12 ’24, which means that Meister Keith A. is holding 6,098,778 shares at $13,942,500 based on the most recent closing price.
Stock Fundamentals for MGM
Current profitability levels for the company are sitting at:
- 0.1 for the present operating margin
- 0.46 for the gross margin
The net margin for MGM Resorts International stands at 0.07. The total capital return value is set at 0.04. Equity return is now at value 26.46, with 2.29 for asset returns.
Based on MGM Resorts International (MGM), the company’s capital structure generated 0.63 points at debt to capital in total, while cash flow to debt ratio is standing at 0.41. The debt to equity ratio resting at 1.7. The interest coverage ratio of the stock is 3.35.
Currently, EBITDA for the company is 2.4 billion with net debt to EBITDA at 12.08. When we switch over and look at the enterprise to sales, we see a ratio of 2.67. The receivables turnover for the company is 15.1for trailing twelve months and the total asset turnover is 0.38. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.57.
Conclusion
To put it simply, MGM Resorts International (MGM) has had a better performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others as a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
