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Last Price: 39.81 - Change: 0.44 - Change %: 1.1176
12/07/2023 16:10:00 EST

MGM Resorts International (MGM)

Industry: Resorts & Casinos

Price Support Resistance

In the past 30 trading days, MGM has been trading in a range between $40.63 and $34.23 (gray range band). Red lines on the chart represent key resistance levels and Green lines represent key support levels. As the price moves above the lines you will notice they turn green and red if price moves below a line.

MGM is trading between resistance at $42.19 about 6% to the upside and support at $39.12 -2% to the downside. If it can break above the resistance, it could have some more upside to the next line of resistance at $43.74, about a 10% move. If the price starts to turn down and fails to get through this level or enters a yellow zone, we would consider profit taking or exiting the position. If it enters a red zone on the chart we would exit the position.

Upside / Downside Potential

MGM Resorts International (MGM) entered a Green zone 24 days ago on the AI powered stock chart. Wall Street analysts have a recent rating of 4.300, which is a Strong Buy. The current analyst target price is $56.78, which gives it a potential upside of 42.63 % from the recent price of 39.81. The stock is trading 28.99% (potential upside) below its 52 week high of $51.35 and 22.76 % (potential downside) above its 52 week low of $32.43 - based on the recent price.

Company Summary

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and Macau The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

MGM Website


MGM Resorts: Market Misses This Outstanding Value Buy Despite Ongoing Performance
MGM Resorts International stock price resistance continues as investors remain unconvinced about the casino sector's growth prospects. The company has managed its global reach well and has seen positive performance in its various markets. MGM's debt profile, including long-term lease obligations, may be impacting its valuation, but its record of growth and performance should not be overlooked.
Source: Seeking Alpha
Thu, 07 Dec 2023 18:02:19 -0500
Sentiment: Neutral
MGM Resorts: Shares Look Attractive Amid Recovery In Macau
MGM stock has undergone a meaningful retreat from its summer high. How much September's cyberattack has contributed to this is open to debate, but the impact on its business should prove transient. Business in Macau has recovered from harsh COVID containment policies in Greater China, while Vegas is otherwise booming outside of September's blip.
Source: Seeking Alpha
Thu, 07 Dec 2023 16:47:34 -0500
Sentiment: Positive
BetMGM CEO and CFO to participate in 2023 Morgan Stanley Global Consumer and Retail Conference
LAS VEGAS , Dec. 5, 2023 /PRNewswire/ -- BetMGM, LLC ("BetMGM"), one of the leading sports betting and iGaming operators across the U.S., jointly owned by MGM Resorts International (NYSE: MGM) ("MGM Resorts") and Entain plc (LSE: ENT) ("Entain") will participate in the 2023 Morgan Stanley Global Consumer and Retail Conference in New York on Wednesday, December 6, 2023. A fireside chat with BetMGM's CEO Adam Greenblatt and CFO Gary Deutsch is scheduled at 5:00 a.m.
Source: PRNewsWire
Tue, 05 Dec 2023 16:05:00 -0500
Sentiment: Neutral
MGM Resorts' (MGM) BetMGM Targets $500M EBITDA in 2026
MGM Resorts' (MGM) sports betting and iGaming partner BetMGM provides business update.
Source: Zacks Investment Research
Tue, 05 Dec 2023 15:47:10 -0500
Sentiment: Neutral
MGM Resorts International (MGM) BetMGM Business Update Conference (Transcript)
MGM Resorts International (NYSE:MGM ) BetMGM Business Update Conference Call December 4, 2023 11:00 AM ET Company Participants Adam Greenblatt - CEO, BetMGM Gary Deutsch - CFO, BetMGM Conference Call Participants Ed Young - Morgan Stanley Joe Greff - JPMorgan Carlo Santarelli - Deutsche Bank Shaun Kelley - Bank of America Stephen Grambling - Morgan Stanley Dan Politzer - Wells Fargo Brandt Montour - Barclays Joe Thomas - HSBC Robin Farley - UBS Chad Beynon - Macquarie Joe Stauff - Susquehanna Operator Good day and welcome to the 2023 BetMGM Business Update. Joining from the Company today are Adam Greenblatt, Chief Executive Officer and Gary Deutsch, Chief Financial Officer.
Source: Seeking Alpha
Mon, 04 Dec 2023 15:10:04 -0500
Sentiment: Neutral
Instituions Institution %: 68.477
Last QTR Institution change: 6262427

Insiders %: 18.394
Insiders Purchases last QTR: 0
Insiders Sales last QTR: 734674
Insiders Net last QTR: -734674

Analyst Ratings
Target Price: 56.78
Overall Rating: 4.3
Strong Buys (5): 11
Buys (4): 4
Holds (3): 5
Sells (2): 0
Strong Sells (1): 0

52 Week Hi: 51.35
52 Week Low: 32.43
Beta: 2.149
50 Day MA: 37.6374
200 Day MA: 42.0359

Earnings / Revenue Trends
Qtr Earnings Growth YOY: -0.869
Qtr Revenue Growth YOY: 0.163
Forward PE: 21.0526
Trailing PE: 13.3691

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