Get in on MGM Resorts International’s (MGM) buy-in window today!

MGM Resorts International (NYSE: MGM) stock jumped 0.67% on Friday to $33.06 against a previous-day closing price of $32.84. With 3.76 million shares changed hands, the volume of the stock remained lighter than its average volume of 6.03 million shares. During the session, the Resorts & Casinos company that operates in wider Consumer Cyclical sector, reached to the highest price of $33.33 whereas the lowest price it dropped to was $32.40. The 52-week range on MGM shows that it touched its highest point at $51.17 and its lowest point at $26.41 during that stretch. It currently has a 1-year price target of $51.84. With its current market cap of 13.52 billion, MGM has annualized dividend of $0.01 while the current yield stands at 0.03%. Beta for the stock currently stands at 2.17.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of MGM was up-trending over the past week, with a rise of 10.46%, but this was up by 10.20% over a month. Three-month performance dropped to -21.23% while six-month performance fell -22.61%. The stock lost -11.53% in the past year, while it has lost -26.34% so far this year. A look at the trailing 12-month EPS for MGM yields 3.08 with Next year EPS estimates of 1.72. For the next quarter, that number is 0.23. This implies an EPS growth rate of 219.60% for this year and 125.07% for next year.

Float and Shares Shorts:

At present, 442.92 million MGM shares are outstanding with a float of 349.51 million shares on hand for trading. On Jul 14, 2022, short shares totaled 18.87 million, which was 4.43% higher than short shares on Jun 14, 2022. In addition to Mr. William Joseph Hornbuckle IV as the firm’s Pres, CEO & Director, Mr. Jonathan S. Halkyard serves as its CFO & Treasurer.

Institutional Ownership:

Through their ownership of 71.94% of MGM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 40.77% of MGM, in contrast to 36.64% held by mutual funds. Shares owned by individuals account for 32.34%. As the largest shareholder in MGM with 9.47% of the stake, The Vanguard Group, Inc. holds 40,357,134 shares worth 40,357,134. A second-largest stockholder of MGM, BlackRock Fund Advisors, holds 17,531,011 shares, controlling over 4.12% of the firm’s shares. T. Rowe Price Associates, Inc. is the third largest shareholder in MGM, holding 17,102,263 shares or 4.01% stake. With a 2.36% stake in MGM, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 10,058,071 shares are owned by the mutual fund manager. The Canada Pension Plan, which owns about 2.04% of MGM stock, is the second-largest Mutual Fund holder. It holds 8,689,000 shares valued at 251.55 million. T Rowe Price Mid Cap Growth Fund holds 1.93% of the stake in MGM, owning 8,241,400 shares worth 238.59 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for MGM since 19 analysts follow the stock currently. There are 11 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 7 believe that the stock is worth HOLDING, 1 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With MGM analysts setting a high price target of $76.00 and a low target of $35.00, the average target price over the next 12 months is $51.92. Based on these targets, MGM could surge 129.89% to reach the target high and rise by 5.87% to reach the target low. Reaching the average price target will result in a growth of 57.05% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. MGM will report FY 2022 earnings on 02/15/2023. Analysts have provided yearly estimates in a range of $1.95 being high and $0.37 being low. For MGM, this leads to a yearly average estimate of $1.13. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. MGM Resorts International surprised analysts by $0.07 when it reported $0.01 EPS against a consensus estimate of -$0.06. The surprise factor in the prior quarter was $0.11. Based on analyst estimates, the high estimate for the next quarter is $0.66 and the low estimate is -$0.07. The average estimate for the next quarter is thus $0.24.

Summary of Insider Activity:

Insiders traded MGM stock several times over the past three months with 6 Buys and 0 Sells. In these transactions, 52,847 shares were bought while 0 shares were sold. The number of buy transactions has increased to 39 while that of sell transactions has risen to 54 over the past year. The total number of shares bought during that period was 5,524,997 while 9,748,291 shares were sold.

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