MGM Resorts International’s Stock Price Soars to $36.44, Marking a Robust 2.94% Uptick

MGM Resorts International (MGM)

36.44 USD +1.04 (+2.94%) Volume: 9.3M

MGM Resorts International’s stock price has seen a positive trading session with an increase of +2.94%, currently standing at 36.44 USD. Despite this uptick, the stock’s performance year-to-date shows a decrease of -18.44%. The trading volume for MGM stands at 9.3M, indicating significant market interest. Stay updated with MGM’s latest stock market performance.

Latest developments on MGM Resorts International

Recent events have had a significant impact on MGM Resorts International (NYSE:MGM) stock price movements today. EverSource Wealth Advisors LLC disclosed a $41,000 holding in the company, while Director Paul Salem acquired 147,500 shares, boosting investor confidence. Despite facing challenges in the market, MGM Resorts outperformed competitors on a strong trading day. CEO William Hornbuckle also showed faith in the company by purchasing 58,900 shares. These insider actions, along with positive forecasts from analysts, have contributed to the rebound of MGM Resorts and other Vegas-linked gambling stocks, indicating a promising future for the company.

MGM Resorts International on Smartkarma

Analysts on Smartkarma, such as Baptista Research, have been closely monitoring MGM Resorts International‘s performance. In a recent report titled “MGM Resorts International: Potential Market Expansions to the UAE,” the analysts highlighted the company’s robust Q1 2024 results, which saw net revenues reach $4.4 billion, a 13% increase from the previous year. With a net income of $217 million and an adjusted EBITDAR of over $1.2 billion, MGM Resorts International demonstrated significant financial growth driven by its diversified business model encompassing Las Vegas operations, regional properties, MGM China, and the progressing digital segment.

Another report by Baptista Research titled “MGM Resorts International: Is The Expansion in Property Locations To The UAE Expected To Be A Game Changer? – Major Drivers,” discussed the company’s Q4 and full 2023 year earnings conference call. Despite a mixed outcome, positive results were achieved, especially in Las Vegas and MGM China, with CEO Bill Hornbuckle mentioning an all-time high in adjusted property EBITDAR for both regions. The report highlighted that 7 domestic properties set records for the same metric, indicating a strong performance in key markets for MGM Resorts International.

A look at MGM Resorts International Smart Scores

Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma

Based on the Smartkarma Smart Scores, MGM Resorts International has a mixed long-term outlook. While the company scores well in terms of growth potential, with a score of 4 out of 5, it lags behind in terms of dividend and resilience, scoring only 1 and 2 respectively. This suggests that while MGM Resorts International may see growth in the future, investors may need to be cautious due to lower dividend payouts and resilience in the face of market challenges.

MGM Resorts International operates gaming, hospitality, and entertainment resorts in various locations across the United States and Macau. The company also provides hospitality management services for both casino and non-casino properties worldwide. With a focus on growth but lower scores in dividend and resilience, MGM Resorts International may need to strategize carefully to navigate the changing landscape of the hospitality and gaming industry.

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