MGM Resorts International (MGM) Stock Could Soon Reward Patient Investors

MGM Resorts International (NYSE: MGM) is 30.40% higher on its value in year-to-date trading and has touched a low of $11.77 and a high of $42.74 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The MGM stock was last observed hovering at around $41.52 in the last trading session, with the day’s loss setting it -0.43% off its average median price target of $38.00 for the next 12 months. It is also 17.82% off the consensus price target high of $50.00 offered by 17 analysts, but current levels are -46.75% lower than the price target low of $28.00 for the same period.

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Currently trading at $41.09, the stock is 5.35% and 12.74% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 6.76 million and changing -1.04% at the moment leaves the stock 54.92% off its SMA200. MGM registered 218.28% gain for a year compared to 6-month gain of 90.67%. The firm has a 50-day simple moving average (SMA 50) of $38.07 and a 200-day simple moving average (SMA200) of $29.71.

The stock witnessed a 8.56% loss in the last 1 month and extending the period to 3 months gives it a 35.34%, and is 7.54% 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 3.19% over the week and 4.00% over the month.

MGM Resorts International (MGM) has around 35000 employees, a market worth around $19.46B and $5.16B in sales. Fwd P/E is 775.28. Profit margin for the company is -19.30%. Distance from 52-week low is 249.11% and -3.86% from its 52-week high. The company has generated returns on investments over the last 12 months (-2.40%).

MGM Resorts International (MGM) Analyst Forecasts

Analyst recommendations provided by FactSet shows that the consensus forecast for MGM Resorts International (MGM) is a “Hold”. 17 analysts offering their recommendations for the stock have an average rating of 2.70, where 10 rate it as a Hold and 0 think it is a “Overweight”. 5 of the analysts rate the stock as a “Buy”. 1 analysts have rated the stock as a Sell or Underperform.

MGM Resorts International is expected to release its quarterly report on 08/05/2021 and quarterly earnings per share for the current quarter are estimated at -$0.84 with sales reaching $1.56B over the same period.The EPS is expected to shrink by -152.00% this year, but quarterly earnings will post 66.20% year-over-year. Quarterly sales are estimated to shrink -30.80% in year-over-year returns.

MGM Resorts International (MGM) Top Institutional Holders

783 institutions hold shares in MGM Resorts International (MGM), with 72.12M shares held by insiders accounting for 14.57% while institutional investors hold 78.58% of the company’s shares. The shares outstanding are 494.23M, and float is at 400.36M with Short Float at 3.42%. Institutions hold 67.13% of the Float.

The top institutional shareholder in the company is Vanguard Group, Inc. (The) with over 43.38 million shares valued at $1.37 billion. The investor’s holdings represent 8.76% of the MGM Shares outstanding. As of Dec 30, 2020, the second largest holder is Blackrock Inc. with 28.37 million shares valued at $894.05 million to account for 5.73% of the shares outstanding. The other top investors are Price (T.Rowe) Associates Inc which holds 23.1 million shares representing 4.67% and valued at over $727.92 million, while Corvex Management LP holds 4.55% of the shares totaling 22.54 million with a market value of $710.16 million.

MGM Resorts International (MGM) Insider Activity

A total of 79 insider transactions have happened at MGM Resorts International (MGM) in the last six months, with sales accounting for 50 and purchases happening 29 times. The most recent transaction is an insider sale by HORNBUCKLE WILLIAM ,the company’sCEO AND PRESIDENT. SEC filings show that HORNBUCKLE WILLIAM sold 10,000 shares of the company’s common stock on Apr 05 at a price of $41.10 per share for a total of $0.41 million. Following the sale, the insider now owns 0.13 million shares.

MGM Resorts International disclosed in a document filed with the SEC on Apr 01 that HORNBUCKLE WILLIAM (CEO AND PRESIDENT) sold a total of 40,000 shares of the company’s common stock. The trade occurred on Apr 01 and was made at $38.13 per share for $1.53 million. Following the transaction, the insider now directly holds 0.14 million shares of the MGM stock.

Still, SEC filings show that on Mar 11, SANDERS COREY IAN (CHIEF OPERATING OFFICER) disposed off 20,000 shares at an average price of $39.65 for $0.79 million. The insider now directly holds 401,611 shares of MGM Resorts International (MGM).

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MGM Resorts International (MGM): Who are the competitors?

The company’s main competitors (and peers) include Monarch Casino & Resort Inc. (MCRI) that is trading 141.93% up over the past 12 months and Boyd Gaming Corporation (BYD) that is 404.44% higher over the same period. Century Casinos Inc. (CNTY) is 350.79% up on the 1-year trading charts. Short interest in the company’s stock has risen 25.05% from the last report on Mar 14, 2021 to stand at a total of 13.67 million short shares sold with a short interest ratio of 1.26.

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