MGM Resorts International (NYSE: MGM) is -16.05% lower on its value in year-to-date trading and has touched a low of $33.44 and a high of $48.24 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The MGM stock was last observed hovering at around $37.27 in the last trading session, with the day’s gains setting it 0.24%.
Currently trading at $37.51, the stock is -1.48% and -2.75% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.21 million and changing 0.64% at the moment leaves the stock -8.29% off its SMA200. MGM registered -6.95% loss for a year compared to 6-month gain of -6.69%. The firm has a 50-day simple moving average (SMA 50) of $38.5712 and a 200-day simple moving average (SMA200) of $40.90195.
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The stock witnessed a -7.43% loss in the last 1 month and extending the period to 3 months gives it a -3.18%, and is -1.24% down 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 2.58% over the week and 2.99% over the month.
MGM Resorts International (MGM) has around 45000 employees, a market worth around $11.17B and $17.27B in sales. Current P/E ratio is 13.41 and Fwd P/E is 15.29. Profit margin for the company is 5.23%. Distance from 52-week low is 12.17% and -22.25% from its 52-week high. The company has generated returns on investments over the last 12 months (2.59%).
The EPS is expected to shrink by -6.31% this year
947.0 institutions hold shares in MGM Resorts International (MGM), with institutional investors hold 90.05% of the company’s shares. The shares outstanding are 326.55M, and float is at 231.26M with Short Float at 6.02%. Institutions hold 69.58% of the Float.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 27.95 million shares valued at $1.24 billion. The investor’s holdings represent 8.7212 of the MGM Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 21.56 million shares valued at $958.15 million to account for 6.7274 of the shares outstanding. The other top investors are DAVIS SELECTED ADVISERS which holds 11.91 million shares representing 3.7167 and valued at over $529.35 million, while STATE STREET CORP holds 3.0747 of the shares totaling 9.85 million with a market value of $437.91 million.
MGM Resorts International (MGM) Insider Activity
The most recent transaction is an insider sale by Meister Keith A., the company’s Director. SEC filings show that Meister Keith A. sold 121,000 shares of the company’s common stock on Sep 13 ’24 at a price of $36.72 per share for a total of $4.44 million. Following the sale, the insider now owns 5.74 million shares.
Still, SEC filings show that on Aug 05 ’24, SALEM PAUL J (Director) acquired 147,500 shares at an average price of $33.80 for $4.99 million. The insider now directly holds 1,702,500 shares of MGM Resorts International (MGM).
