MGM Resorts International’s Stock Price Soars to $40.17, Marking a Robust 4.26% Increase

MGM Resorts International (MGM)

40.17 USD +1.64 (+4.26%) Volume: 7.44M

MGM Resorts International’s stock price surged to $40.17, marking a trading session increase of +4.26%, with a substantial trading volume of 7.44M. Despite this positive performance, the stock has experienced a year-to-date decrease of -10.09%, reflecting its volatile market journey.

Latest developments on MGM Resorts International

Recent events have been shaping the stock price movements of MGM Resorts International (NYSE:MGM). Nomura Asset Management Co. Ltd. decreased its holdings in the company, while Focus Financial Network Inc. ADV purchased shares. Mandalay Bay Resort and Casino completed a $100 million renovation of its 2.1 million-square-foot convention center, breathing new life into the space. Additionally, MGM Resorts achieved its goals in the Feeding Forward program, exceeding its 2025 meal donation goal by providing over 5 million meals since 2016. These positive developments may have influenced the sentiment on Wall Street towards MGM Resorts stock.

MGM Resorts International on Smartkarma

Analysts at Baptista Research on Smartkarma are bullish on MGM Resorts International, highlighting the company’s strong performance in Q1 2024. With net revenues reaching $4.4 billion, a 13% increase from the previous year, and a net income of $217 million, MGM Resorts International demonstrated significant financial growth. The company’s diversified business model, including Las Vegas operations, regional properties, MGM China, and the progressing digital segment, propelled its success.

In their research reports, Baptista Research also discussed MGM Resorts International‘s Q4 and full 2023 year earnings, noting positive outcomes in Las Vegas and MGM China. CEO Bill Hornbuckle mentioned achieving an all-time high in adjusted property EBITDAR for both regions, with 7 domestic properties setting records for the same metric. Despite disruptions, MGM Resorts International exceeded analyst expectations in revenue and earnings, showcasing strong performance and strategic positioning for the future.

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. With a high score in Growth and Momentum, the company shows potential for future expansion and positive market performance. However, its lower scores in Dividend and Resilience indicate some weaknesses in terms of stability and dividend payouts. Overall, MGM Resorts International may be a good option for investors looking for growth opportunities in the gaming and hospitality industry.

MGM Resorts International operates gaming, hospitality, and entertainment resorts in various locations around the world. The company’s strong focus on growth and momentum suggests a promising future, but its lower scores in dividend and resilience factors indicate some potential risks. Despite these challenges, MGM Resorts International continues to offer a wide range of services in the hospitality management sector, positioning itself as a key player in the global casino and entertainment industry.

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