MGM Stock Summary and Trading Ideas (MGM Resorts Intl | NYSE:MGM)

MGM Resorts is the largest resort operator on the Las Vegas Strip with 35,000 guest rooms and suites, representing about one fourth of all units in the market. The company's Vegas properties include MGM Grand, Mandalay Bay, Park MGM, Luxor, New York-New York, and Bellagio. The Strip contributed approximately 62% of total EBITDAR in 2023. MGM also owns US regional assets, which represented a low 20s share of 2023 EBITDAR (MGM's Macao EBITDAR was 17% of the total in 2023). MGM's US sports and i-gaming operations are currently a high-single-digit percentage of its total revenue. The company also operates the 56%-owned MGM China casinos with a new property that opened on the Cotai Strip in early 2018. We estimate MGM will open a resort in Japan in 2030.

MGM Resorts Intl trades on the NYSE stock market under the symbol MGM.

As of November 25, 2024, MGM stock price climbed to $38.24 with 1,040,280 million shares trading.

MGM has a beta of 1.22, meaning it tends to be more sensitive to market movements. MGM has a correlation of 0.20 to the broad based SPY ETF.

MGM has a market cap of $11.39 billion. This is considered a Large Cap stock.

Last quarter MGM Resorts Intl reported $4 billion in Revenue and $.54 earnings per share. This fell short of revenue expectation by $-27 million and missed earnings estimates by -$.07.

In the last 3 years, MGM traded as high as $51.35 and as low as $26.41.

The top ETF exchange traded funds that MGM belongs to (by Net Assets): VTI, VOO, RSP, SPY, VB.

MGM has underperformed the market in the last year with a return of -5.2%, while the SPY ETF gained +33.0%. In the last 3 month period, MGM fell short of the market, returning -1.3%, while SPY returned +7.9%. However, in the most recent 2 weeks MGM has outperformed the stock market by returning +4.2%, while SPY returned 0.0%.

MGM support price is $37.00 and resistance is $38.60 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that MGM shares will trade within this expected range on the day.