A new trading day began on Monday, with MGM Resorts International (NYSE: MGM) stock price up 0.02% from the previous day of trading, before settling in for the closing price of $42.42. MGM’s price has ranged from $34.12 to $51.35 over the past 52 weeks.
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A company in the Consumer Cyclical sector has jumped its sales by 19.19% annually for the last half of the decade. Meanwhile, its annual earnings per share averaged -9.50%. With a float of $249.72 million, this company’s outstanding shares have now reached $326.55 million.
In an organization with 45000 employees, it is important to assess its efficiency.
MGM Resorts International (MGM) Insider and Institutional Ownership
As we move forward, let’s examine how large-scale investors are investing in this stock of the Resorts & Casinos Industry. The insider ownership of MGM Resorts International is 21.23%, while institutional ownership is 68.41%. The most recent insider transaction that took place on Mar 13 ’24, was worth 4,298,000. In this transaction Director of this company sold 100,000 shares at a rate of $42.98, taking the stock ownership to the 5,998,778 shares. Before that another transaction happened on Mar 12 ’24, when Company’s Director sold 325,000 for $42.90, making the entire transaction worth $13,942,500. This insider now owns 6,098,778 shares in total.
MGM Resorts International (MGM) Latest Financial update
In its latest quarterly report, released on 12/31/2023, the company reported earnings of $1.06 per share, which was $0.1 higher than the consensus estimate of $0.26. In terms of return on equity, this company recorded -19.55% in contrast with 50.0% return on Investment (trailing twelve months). Wall Street market experts anticipate that the next fiscal year will bring earnings of 0.52 per share during the current fiscal year.
According to the Wall Street analysts, stocks earnings will be around -9.50% per share during the next fiscal year. For the long-term projections, market analysts anticipate that the company’s EPS will surge by 11.90% during the next five years compared to 31.55% growth over the previous five years of trading.
MGM Resorts International (NYSE: MGM) Trading Performance Indicators
Here are MGM Resorts International’s current performance indicators. According to the last quarter’s results, the stock had a quick ratio of 1.53. In addition, a publicly-traded company’s price to sales ratio for the trailing twelve months stands at 0.83. Likewise, its price to free cash flow for the trailing twelve months is 7.61.
For the trailing twelve months, Company’s Diluted EPS (Earnings per Share) is 3.17, a number that is poised to hit 0.56 in the next quarter and is forecasted to reach 2.84 in one year’s time.
Technical Analysis of MGM Resorts International (MGM)
Let’s dig in a bit further. During the last 5-days, its volume was 2.86 million. That was inferior than the volume of 3.84 million it reported in year-ago period. As of the previous 9 days, the stock’s Stochastic %D was 16.62%. Additionally, its Average True Range was 1.13.
During the past 100 days, MGM Resorts International’s (MGM) raw stochastic average was set at 36.48%, which indicates a significant increase from 15.35% during the past two weeks. Based on volatility metrics of the stock, it showed a historical volatility of 28.44% in the past 14 days, which was lower than the 30.17% volatility it showed in the past 100 days.
At the time of writing, stock’s 50-day Moving Average is $43.89, while its 200-day Moving Average is $42.54. However, in the short run, MGM Resorts International’s stock first resistance to watch stands at $42.96. Second resistance stands at $43.50. The third major resistance level sits at $43.94. If the price goes on to break the first support level at $41.98, it is likely to go to the next support level at $41.54. The third support level lies at $41.00 if the price breaches the second support level.
MGM Resorts International (NYSE: MGM) Key Stats
With a market capitalization of 13.45 billion, the company has a total of 317,016K Shares Outstanding. Currently, annual sales are 16,164 M while annual income is 1,142 M. The company’s previous quarter sales were 4,376 M while its latest quarter income was 313,460 K.
