MGM
MGM Resorts International (NYSE: MGM) jumped 14% in early trading Monday after People Inc.
Article Summary
BUY- MGM Resorts International (NYSE: MGM) jumped 14% in early trading Monday after People Inc. submitted a bid to acquire remaining MGM shares for $48.30 per share in cash, representing a 24% premium to the average price of MGM's stock over the past 30 days.
- People Inc., the media company run by billionaire Barry Diller, already owns a 26.1% stake in MGM and submitted a letter to MGM's board saying its conviction in MGM's business has strengthened and that People could enhance MGM Resorts International's value given its deep familiarity with the business.
- Diller rebranded his conglomerate from IAC in late April and consolidated MGM Resorts International's structure to cut costs and focus on publishing and MGM, noting that the company had an excellent balance sheet with plenty of cash to pursue opportunities MGM reported improving revenue trends in its Las Vegas Strip resorts and signaled optimism around resilient travel bookings despite a challenging backdrop for consumer sentiment.
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Growth Stock Scoring Breakdown
| METRIC | VALUE | WEIGHT | ANALYSIS |
|---|---|---|---|
| Sales Growth TTM ? | 3.4% | 25% | 20.0 ptsMinimal (3.4%) - Very weak |
| EPS Growth Next 5Y ? | -6.1% | 25% | 0.0 ptsNegative (-6.1%) - Declining expectations |
| Target Price Upside ? | 11.3% above | 20% | 0.0 ptsAbove Target (11.3% above) - Target: $45.53 vs Current: $51.33 |
| Gross Margin % ? | 38.3% | 15% | 60.0 ptsSolid (38.3%) - Decent margins |
| Drawdown from 52-Wk High ? | 15.9% | 15% | 20.0 ptsBarely a Dip (15.9%) - Near recent highs |
Disclaimer: This rating is for informational purposes only and is not financial advice.
All data sourced from Finviz.
Always conduct your own research and consult with a financial advisor before making investment decisions.
Past performance does not guarantee future results.
About MGM
- MGM Resorts International, through its subsidiaries, operates as a gaming and entertainment company in the United States, China, and internationally.
- It operates through four segments: Las Vegas Strip Resorts, Regional Operations, MGM China, and MGM Digital.
- The company operates casino resorts that offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities, as well as online/digital games through its online platforms.
- Its casino operations include slots and table games, as well as live dealer, online sports betting, and iGaming through BetMGM.
- The company's customers include premium gaming customers; leisure and wholesale travel customers; business travelers; and group customers, including conventions, trade associations, and small meetings.
- The company was formerly known as MGM MIRAGE and changed its name to MGM Resorts International in June 2010.
- MGM Resorts International was incorporated in 1986 and is based in Las Vegas, Nevada.