In the past week, MGM stock has gone down by -15.98%, with a monthly decline of -18.77% and a quarterly plunge of -13.98%. The volatility ratio for the week is 4.29%, and the volatility levels for the last 30 days are 2.88% for MGM Resorts International The simple moving average for the past 20 days is -19.66% for MGM’s stock, with a -16.41% simple moving average for the past 200 days.
Is It Worth Investing in MGM Resorts International (NYSE: MGM) Right Now?
MGM Resorts International (NYSE: MGM) has a higher price-to-earnings ratio of 13.28x compared to its average ratio, The 36-month beta value for MGM is at 2.26. Analysts have varying views on the stock, with 9 analysts rating it as a “buy,” 4 rating it as “overweight,” 4 as “hold,” and 0 as “sell.”
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The public float for MGM is 246.35M, and currently, shorts hold a 4.79% of that float. The average trading volume for MGM on August 02, 2024 was 3.77M shares.
MGM) stock’s latest price update
The stock price of MGM Resorts International (NYSE: MGM) has plunged by -5.73 when compared to previous closing price of 37.29, but the company has seen a -15.98% decline in its stock price over the last five trading sessions. globenewswire.com reported 2024-08-01 that NEW YORK, Aug. 01, 2024 (GLOBE NEWSWIRE) — Inspired Entertainment, Inc. (NASDAQ: INSE), a leading provider of B2B gaming content, technology, hardware, and services, and BetMGM, a leading iGaming and sports betting operator, announced today that the innovative Hybrid Dealer® game MGM Bonus City is now available in Michigan. The game debuted in October 2023 in New Jersey and is available exclusively at BetMGM Casino.
Analysts’ Opinion of MGM
Many brokerage firms have already submitted their reports for MGM stocks, with BTIG Research repeating the rating for MGM by listing it as a “Buy.” The predicted price for MGM in the upcoming period, according to BTIG Research is $52 based on the research report published on July 03, 2024 of the current year 2024.
Susquehanna, on the other hand, stated in their research note that they expect to see MGM reach a price target of $54. The rating they have provided for MGM stocks is “Positive” according to the report published on May 02nd, 2024.
Seaport Research Partners gave a rating of “Buy” to MGM, setting the target price at $56 in the report published on April 15th of the current year.
MGM Trading at -16.38% 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 -29.17% of loss for the given period.
Volatility was left at 2.88%, however, over the last 30 days, the volatility rate increased by 4.29%, as shares sank -18.44% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -13.98% lower at present.
During the last 5 trading sessions, MGM fell by -16.10%, which changed the moving average for the period of 200-days by -4.99% in comparison to the 20-day moving average, which settled at $43.36. In addition, MGM Resorts International saw -21.32% 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 139,300 shares at the price of $40.44 back on Jun 13 ’24. After this action, Meister Keith A. now owns 5,859,478 shares of MGM Resorts International, valued at $5,633,292 using the latest closing price.
TAYLOR DANIEL J, the Director of MGM Resorts International, sale 4,344 shares at $41.02 during a trade that took place back on May 21 ’24, which means that TAYLOR DANIEL J is holding 0 shares at $178,192 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 23.05, with 2.08 for asset returns.
Based on MGM Resorts International (MGM), the company’s capital structure generated 0.91 points at debt to capital in total, while cash flow to debt ratio is standing at 0.06. The debt to equity ratio resting at 10.01. The interest coverage ratio of the stock is 7.97.
Currently, EBITDA for the company is 2.4 billion with net debt to EBITDA at 13.84. When we switch over and look at the enterprise to sales, we see a ratio of 2.39. The receivables turnover for the company is 16.78for trailing twelve months and the total asset turnover is 0.39. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.47.
Conclusion
In conclusion, MGM Resorts International (MGM) has had a bad performance lately. Opinion on the stock among analysts is bullish, with some giving it a “buy” rating and others 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.
