The stock of MGM Resorts International (NYSE: MGM) has decreased by -0.35 when compared to last closing price of 37.28. Despite this, the company has experienced a 1.17% gain in its stock price over the last five trading sessions. prnewswire.com reported 2024-11-18 that Bringing the Next Generation of Guest Experience to Las Vegas and Beyond News Summary: Global gaming and entertainment company MGM Resorts International signs a Whole Portfolio Agreement with Cisco to deliver next-generation guest experiences. Agreement gives MGM Resorts access to much of Cisco’s software portfolio and Customer Experience (CX) services.
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. MGM has 36-month beta value of 2.23. Analysts have mixed views on the stock, with 14 analysts rating it as a “buy,” 4 as “overweight,” 4 as “hold,” and 0 as “sell.”
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The public float for MGM is 231.26M, and currently, short sellers hold a 6.02% ratio of that float. The average trading volume of MGM on November 19, 2024 was 4.41M shares.
MGM’s Market Performance
MGM stock saw a decrease of 1.17% in the past week, with a monthly decline of -9.81% and a quarterly a decrease of -5.71%. The volatility ratio for the week is 3.05%, and the volatility levels for the last 30 days are 2.94% for MGM Resorts International (MGM). The simple moving average for the last 20 days is -3.11% for MGM stock, with a simple moving average of -9.33% for the last 200 days.
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 -3.46% 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 -23.00% of loss for the given period.
Volatility was left at 2.94%, however, over the last 30 days, the volatility rate increased by 3.05%, as shares sank -8.23% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +6.23% upper at present.
During the last 5 trading sessions, MGM rose by +1.17%, which changed the moving average for the period of 200-days by -17.22% in comparison to the 20-day moving average, which settled at $38.34. In addition, MGM Resorts International saw -16.85% 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 121,000 shares at the price of $36.72 back on Sep 13 ’24. After this action, Meister Keith A. now owns 5,738,478 shares of MGM Resorts International, valued at $4,443,249 using the latest closing price.
Corvex Management LP, the Affiliate of Director (1) of MGM Resorts International, proposed sale 121,000 shares at $34.97 during a trade that took place back on Sep 13 ’24, which means that Corvex Management LP is holding shares at $4,231,370 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
- 0.42 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 25.08, with 2.12 for asset returns.
Based on MGM Resorts International (MGM), the company’s capital structure generated 0.68 points at debt to capital in total, while cash flow to debt ratio is standing at 0.34. The debt to equity ratio resting at 2.14. The interest coverage ratio of the stock is 3.88.
Currently, EBITDA for the company is 2.4 billion with net debt to EBITDA at 11.03. When we switch over and look at the enterprise to sales, we see a ratio of 2.32. The receivables turnover for the company is 14.67for 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 1.24.
Conclusion
To put it simply, MGM Resorts International (MGM) has had a bad performance in recent times. Analysts have a mixed opinion on the stock, with some rating it as a “buy” and others 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.
