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MGM Resorts International (MGM): These Numbers Show Where NYSE:MGM Stock Is Going Next

MGM Resorts International (NYSE: MGM) is 3.89% 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 $47.78 in the last trading session, with the day’s loss setting it -1.36%.

Currently trading at $46.42, the stock is 5.45% and 6.00% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 2.9 million and changing -2.85% at the moment leaves the stock 9.42% off its SMA200. MGM registered 7.13% gain for a year compared to 6-month gain of 26.28%. The firm has a 50-day simple moving average (SMA 50) of $2.69 and a 200-day simple moving average (SMA200) of $15.80.

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The stock witnessed a 8.05% loss in the last 1 month and extending the period to 3 months gives it a 3.89%, and is 4.20% 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 2.25% over the week and 2.11% over the month.

MGM Resorts International (MGM) has around 45000 employees, a market worth around $14.72B and $16.16B in sales. Current P/E ratio is 14.65 and Fwd P/E is 16.36. Profit margin for the company is 7.07%. Distance from 52-week low is 36.05% and -9.60% from its 52-week high. The company has generated returns on investments over the last 12 months (3.23%).

MGM Resorts International quarterly earnings per share for the current quarter are estimated at $0.56 with sales reaching $4.19B over the same period.The EPS is expected to shrink by -9.41% this year, but quarterly earnings will post 3.50% year-over-year. Quarterly sales are estimated to grow 16.90% in year-over-year returns.

MGM Resorts International (MGM) Top Institutional Holders

975 institutions hold shares in MGM Resorts International (MGM), with institutional investors hold 88.22% of the company’s shares. The shares outstanding are 326.55M, and float is at 250.29M with Short Float at 5.47%. Institutions hold 69.51% 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

The most recent transaction is an insider sale by Meister Keith A.,the company’sDirector. SEC filings show that Meister Keith A. sold 100,000 shares of the company’s common stock on Mar 13 ’24 at a price of $42.98 per share for a total of $4.3 million. Following the sale, the insider now owns 6.0 million shares.

MGM Resorts International disclosed in a document filed with the SEC on Mar 12 ’24 that Meister Keith A. (Director) sold a total of 325,000 shares of the company’s common stock. The trade occurred on Mar 12 ’24 and was made at $42.90 per share for $13.94 million. Following the transaction, the insider now directly holds 6.1 million shares of the MGM stock.

Still, SEC filings show that on Dec 14 ’23, SANDERS COREY IAN (CHIEF OPERATING OFFICER) disposed off 30,000 shares at an average price of $44.82 for $1.34 million. The insider now directly holds 227,674 shares of MGM Resorts International (MGM).

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