In recent trading session, MGM Resorts International (NYSE:MGM) saw 0.96 million shares changing hands at last check today with its beta currently measuring 2.21. Company’s recent per share price level of $43.44 trading at -$1.28 or -2.86% at last check today assigns it a market valuation of $13.77B. That most recent trading price of MGM’s stock is at a discount of -18.21% from its 52-week high price of $51.35 and is indicating a premium of 21.45% from its 52-week low price of $34.12. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 2.66 million shares which gives us an average trading volume of 3.87 million if we extend that period to 3-months.
MGM Resorts International (NYSE:MGM) trade information
Upright in the red during last session for losing -2.86%, in the last five days MGM remained trading in the red while hitting it’s week-highest on Monday, 04/08/24 when the stock touched $43.44 price level, adding 7.79% to its value on the day. MGM Resorts International’s shares saw a change of -2.78% in year-to-date performance and have moved -6.64% in past 5-day. MGM Resorts International (NYSE:MGM) showed a performance of 1.35% in past 30-days. Number of shares sold short was 13.4 million shares which calculate 4.14 days to cover the short interests.
MGM Resorts International (MGM) estimates and forecasts
Statistics highlight that MGM Resorts International is scoring comparatively lower than the scores of other players of the relevant industry. The company added 14.29% of value to its shares in past 6 months, showing an annual growth rate of -6.37% while that of industry is 10.60. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to increase by 27.30% in the current quarter and calculating -10.20% decrease in the next quarter. This year revenue growth is estimated to rise 3.70% from the last financial year’s standing.
15 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $4.2 billion for the same. And 15 analysts are in estimates of company making revenue of $4.11 billion in the next quarter that will end on Jun 2024.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of 31.55% during past 5 years. In 2024, company’s earnings growth rate is likely to be around -9.67% while estimates for its earnings growth in next 5 years are of 11.90%.
MGM Dividends
MGM Resorts International is more likely to be releasing its next quarterly report on May 01 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
MGM Resorts International (NYSE:MGM)’s Major holders
Insiders are in possession of 21.21% of company’s total shares while institution are holding 69.13 percent of that, with stock having share float percentage of 87.74%. Investors also watch the number of corporate investors in a company very closely, which is 69.13% institutions for MGM Resorts International that are currently holding shares of the company. Vanguard Group Inc is the top institutional holder at MGM for having 30.48 million shares of worth $1.32 billion. And as of Dec 30, 2023, it was holding 9.61% of the company’s outstanding shares.
The second largest institutional holder is Blackrock Inc., which was holding about 21.67 million shares on Dec 30, 2023. The number of shares represents firm’s hold over 6.84% of outstanding shares, having a total worth of $940.44 million.
On the other hand, Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund are the top two Mutual Funds which own company’s shares. As of Dec 30, 2023, the former fund manager was holding 8.09 million shares of worth $350.81 million or 2.55% of the total outstanding shares. The later fund manager was in possession of 6.68 million shares on Dec 30, 2023, making its stake of worth around $289.65 million in the company or a holder of 2.11% of company’s stock.
