MGM Resorts International (NYSE: MGM) has a price-to-earnings ratio of 15.77x that is above its average ratio. Additionally, the 36-month beta value for MGM is 2.26. There are mixed opinions on the stock, with 9 analysts rating it as a “buy,” 4 rating it as “overweight,” 4 rating it as “hold,” and 0 rating it as “sell.”
The public float for MGM is 247.09M and currently, short sellers hold a 5.04% ratio of that float. The average trading volume of MGM on May 06, 2024 was 3.81M shares.
MGM) stock’s latest price update
MGM Resorts International (NYSE: MGM) has seen a rise in its stock price by 0.42 in relation to its previous close of 40.87. However, the company has experienced a -0.12% decline in its stock price over the last five trading sessions. Zacks Investment Research reported 2024-05-02 that MGM Resorts’ (MGM) first-quarter results reflect solid performances at MGM China and luxury resort properties in Las Vegas.
MGM’s Market Performance
MGM Resorts International (MGM) has experienced a -0.12% fall in stock performance for the past week, with a -10.51% drop in the past month, and a -8.56% drop in the past quarter. The volatility ratio for the week is 4.05%, and the volatility levels for the past 30 days are at 2.73% for MGM. The simple moving average for the last 20 days is -4.12% for MGM stock, with a simple moving average of -2.98% for the last 200 days.
Analysts’ Opinion of MGM
Many brokerage firms have already submitted their reports for MGM stocks, with Susquehanna repeating the rating for MGM by listing it as a “Positive.” The predicted price for MGM in the upcoming period, according to Susquehanna is $54 based on the research report published on May 02, 2024 of the current year 2024.
Seaport Research Partners, on the other hand, stated in their research note that they expect to see MGM reach a price target of $56. The rating they have provided for MGM stocks is “Buy” according to the report published on April 15th, 2024.
Mizuho gave a rating of “Buy” to MGM, setting the target price at $61 in the report published on March 26th of the current year.
MGM Trading at -5.55% 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 -20.08% of loss for the given period.
Volatility was left at 2.73%, however, over the last 30 days, the volatility rate increased by 4.05%, as shares sank -11.80% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -3.28% lower at present.
During the last 5 trading sessions, MGM fell by -0.12%, which changed the moving average for the period of 200-days by -17.80% in comparison to the 20-day moving average, which settled at $42.53. In addition, MGM Resorts International saw -8.15% 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 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
- 0.44 for the gross margin
The net margin for MGM Resorts International stands at 0.05. The total capital return value is set at 0.04. Equity return is now at value 21.53, with 2.09 for asset returns.
Based on MGM Resorts International (MGM), the company’s capital structure generated 0.65 points at debt to capital in total, while cash flow to debt ratio is standing at 0.39. The debt to equity ratio resting at 1.85. The interest coverage ratio of the stock is 3.78.
Currently, EBITDA for the company is 2.4 billion with net debt to EBITDA at 11.71. When we switch over and look at the enterprise to sales, we see a ratio of 2.51. The receivables turnover for the company is 16.41for trailing twelve months and the total asset turnover is 0.4. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.51.
Conclusion
In conclusion, MGM Resorts International (MGM) has seen bad performance in recent times. Analysts have a bullish opinion on the stock, with some rating it as a “buy” and others rating it as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
