MGM Resorts International (NYSE: MGM) is -28.28% lower on its value in year-to-date trading and has touched a low of $5.90 and a high of $34.63 in the current 52-week trading range. The MGM stock was last observed hovering at around $22.81 in the last trading session, with the day’s gains setting it 1.05% off its average median price target of $18.00 for the next 12 months. It is also 11.63% off the consensus price target high of $27.00 offered by 18 analysts, but current levels are -83.54% lower than the price target low of $13.00 for the same period.
Currently trading at $23.86, the stock is 17.78% and 31.74% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 23.17 million and changing 4.60% at the moment leaves the stock 6.99% off its SMA200. MGM registered -15.24% loss for a year compared to 6-month loss of -4.75%. The firm has a 50-day simple moving average (SMA 50) of $8.84% and a 200-day simple moving average (SMA200) of $39.54M.
The stock witnessed a 43.39% gain in the last 1 month and extending the period to 3 months gives it a 34.04%, and is 12.76% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.74% over the week and 5.39% over the month.
MGM Resorts International (MGM) has around 52000 employees, a market worth around $11.25B and $9.04B in sales. Current P/E ratio is 6.27. Profit margin for the company is 21.70%. Distance from 52-week low is 304.40% and -31.11% from its 52-week high. The company has generated returns on investments over the last 12 months (17.40%).
MGM Resorts International (MGM) Analyst Forecasts
Analyst recommendations provided by FactSet shows that the consensus forecast for MGM Resorts International (MGM) is a “Hold”. 18 analysts offering their recommendations for the stock have an average rating of 2.80, where 13 rate it as a Hold and 1 think it is a “Overweight”. 3 of the analysts rate the stock as a “Buy”. 0 analysts have rated the stock as a Sell or Underperform.
MGM Resorts International is expected to release its quarterly report on 10/28/2020 and quarterly earnings per share for the current quarter are estimated at -$1.1 with sales reaching $1.24B over the same period.The EPS is expected to grow by 378.50% this year, but quarterly earnings will post -55.90% year-over-year. Quarterly sales are estimated to shrink -62.50% in year-over-year returns.
MGM Resorts International (MGM) Top Institutional Holders
693 institutions hold shares in MGM Resorts International (MGM), with 3.81M shares held by insiders accounting for 0.77% while institutional investors hold 87.55% of the company’s shares. The shares outstanding are 493.46M, and float is at 430.46M with Short Float at 10.13%. Institutions hold 86.88% of the Float.
The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 52.37 million shares valued at $879.85 million. The investor’s holdings represent 10.62% of the MGM Shares outstanding. As of Jun 29, 2020, the second largest holder is Price (T.Rowe) Associates Inc with 32.77 million shares valued at $550.52 million to account for 6.64% of the shares outstanding. The other top investors are Blackrock Inc. which holds 31.89 million shares representing 6.46% and valued at over $535.7 million, while Corvex Management LP holds 4.57% of the shares totaling 22.54 million with a market value of $378.63 million.
MGM Resorts International (MGM) Insider Activity
A total of 34 insider transactions have happened at MGM Resorts International (MGM) in the last six months, with sales accounting for 6 and purchases happening 28 times. The most recent transaction is an insider sale by McManus John, the company’s EVP GENERAL COUNSEL AND SECY. SEC filings show that McManus John sold 30,000 shares of the company’s common stock on Aug 21 at a price of $21.23 per share for a total of $0.64 million. Following the sale, the insider now owns 0.1 million shares.
MGM Resorts International disclosed in a document filed with the SEC on Aug 14 that TAYLOR DANIEL J (Director) sold a total of 1,637 shares of the company’s common stock. The trade occurred on Aug 14 and was made at $21.76 per share for $35629.0. Following the transaction, the insider now directly holds 0.0 shares of the MGM stock.
Still, SEC filings show that on Apr 09, RAFIQ ATIF (President, Commercial & Growth) acquired 9,812 shares at an average price of $15.35 for $0.15 million. The insider now directly holds 18,573 shares of MGM Resorts International (MGM).
MGM Resorts International (MGM): Who are the competitors?
The company’s main competitors (and peers) include Monarch Casino & Resort Inc. (MCRI) that is trading 6.47% up over the past 12 months. Century Casinos Inc. (CNTY) is -18.02% down on the 1-year trading charts.