MGM Stock Forecast: All the More Reason to Consider MGM Resorts International (MGM) Now

MGM Resorts International (NYSE: MGM) is 4.61% higher on its value in year-to-date trading and has touched a low of $34.12 and a high of $51.35 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 $46.43 in the last trading session, with the day’s gains setting it 0.31%.

Currently trading at $46.74, the stock is 7.19% and 8.04% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.89 million and changing 0.67% at the moment leaves the stock 10.88% off its SMA200. MGM registered 12.82% gain for a year compared to 6-month loss of 0.56%. The firm has a 50-day simple moving average (SMA 50) of $2.89 and a 200-day simple moving average (SMA200) of $12.20.

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The stock witnessed a 7.47% gain in the last 1 month and extending the period to 3 months gives it a 20.93%, and is 4.14% 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 1.89% over the week and 2.19% over the month.

MGM Resorts International (MGM) has around Dec 08 2022 employees, a market worth around $15.97B and $15.38B in sales. Current P/E ratio is 15.94 and Fwd P/E is 20.23. Profit margin for the company is 7.12%. Distance from 52-week low is 36.99% and -8.98% from its 52-week high. The company has generated returns on investments over the last 12 months (3.07%).

MGM Resorts International quarterly earnings per share for the current quarter are estimated at $0.71 with sales reaching $4.14B over the same period.The EPS is expected to grow by 185.11% this year, but quarterly earnings will post 20.70% year-over-year. Quarterly sales are estimated to grow 15.20% in year-over-year returns.

MGM Resorts International (MGM) Top Institutional Holders

961 institutions hold shares in MGM Resorts International (MGM), with institutional investors hold 86.07% of the company’s shares. The shares outstanding are 379.09M, and float is at 274.32M with Short Float at 3.65%. Institutions hold 69.12% of the Float.

The top institutional shareholder in the company is Vanguard Group Inc with over 34.57 million shares valued at $1.52 billion. The investor’s holdings represent 9.85% of the MGM Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 22.23 million shares valued at $976.24 million to account for 6.33% of the shares outstanding. The other top investors are T. Rowe Price Investment Management, Inc. which holds 19.61 million shares representing 5.59% and valued at over $861.37 million, while State Street Corporation holds 3.45% of the shares totaling 12.11 million with a market value of $531.67 million.

MGM Resorts International (MGM) Insider Activity

A total of 42 insider transactions have happened at MGM Resorts International (MGM) in the last six months, with sales accounting for 21 and purchases happening 21 times. The most recent transaction is an insider sale by SANDERS COREY IAN ,the company’sCHIEF OPERATING OFFICER. SEC filings show that SANDERS COREY IAN sold 30,000 shares of the company’s common stock on Dec 14 at a price of $44.82 per share for a total of $1.34 million. Following the sale, the insider now owns 0.23 million shares.

MGM Resorts International disclosed in a document filed with the SEC on Dec 14 that McManus John (CHIEF LEGAL ADMIN OFC AND SECY) sold a total of 10,000 shares of the company’s common stock. The trade occurred on Dec 14 and was made at $45.00 per share for $0.45 million. Following the transaction, the insider now directly holds 63695.0 shares of the MGM stock.

Still, SEC filings show that on Dec 12, McManus John (CHIEF LEGAL ADMIN OFC AND SECY) disposed off 10,000 shares at an average price of $43.45 for $0.43 million. The insider now directly holds 73,695 shares of MGM Resorts International (MGM).

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

The company’s main competitors (and peers) include Las Vegas Sands Corp. (LVS) that is trading -6.78% down over the past 12 months. DraftKings Inc. Cl A (DKNG) that is 168.77% higher over the same period.