Belpointe Asset Management Reduces Stake in MGM Resorts Despite Positive Outlook from Analysts.
May 17, 2023
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MGM ($NYSE:MGM) Resorts International is a global entertainment and hospitality company that owns and operates a portfolio of iconic hospitality brands, including MGM Grand, Bellagio, and Park MGM. Its shares are traded on the New York Stock Exchange (NYSE: MGM). Recently, Belpointe Asset Management LLC has reduced its stake in the company despite positive outlook from analysts. Research firms such as Zacks Investment Research and Goldman Sachs have recently expressed optimism about MGM Resorts International’s potential for growth. Belpointe Asset Management LLC is a wealth management firm that provides financial advice and services to clients. This decision could be seen as a sign of caution from the asset management firm in light of the uncertainty surrounding the global economy. This decision could be seen as a sign of caution from the asset management firm in light of the current economic climate.
However, the research firms remain optimistic about the potential for growth in MGM Resorts International.
Market Price
On Monday, MGM Resorts International’s stock opened trading at $42.1, and closed at $42.7, representing a 1.7% increase from its previous closing price of $42.0. Analysts remain bullish on the stock, as earnings estimates remain favorable for the coming quarters. It remains to be seen how this decision will affect the performance of MGM Resorts International’s stock in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for MGM. More…
| Total Revenues | Net Income | Net Margin |
| 14.15k | 1.94k | -2.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for MGM. More…
| Operations | Investing | Financing |
| 2.04k | 2.57k | -3.24k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for MGM. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 43.54k | 38.31k | 13.18 |
Key Ratios Snapshot
Some of the financial key ratios for MGM are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 5.7% | -24.9% | 15.2% |
| FCF Margin | ROE | ROA |
| 8.7% | 27.8% | 3.1% |
Analysis
At GoodWhale, we have conducted an in-depth analysis of MGM RESORTS INTERNATIONAL’s fundamentals. Based on our assessment, MGM RESORTS INTERNATIONAL is a medium risk investment in terms of financial and business aspects. However, we have detected one risk warning in the income sheet for MGM RESORTS INTERNATIONAL. So, if you’re interested to find out more about this warning, sign up to become a registered user on GoodWhale and learn more. More…
Peers
MGM Resorts International is one of the world’s leading global hospitality companies, operating a portfolio of destination resort brands including Bellagio, MGM Grand, Mandalay Bay, The Mirage, and more. The company’s competitors include SkyCity Entertainment Group Ltd, Wyndham Hotels & Resorts Inc, and Cruzani Inc.
– SkyCity Entertainment Group Ltd ($NZSE:SKC)
SkyCity Entertainment Group Ltd is a casino and hospitality company based in New Zealand. The company has a market cap of 2B as of 2022 and a Return on Equity of 3.48%. SkyCity operates four casinos in New Zealand, two in Australia, and one in Chile. The company also has a number of hotels, restaurants, and bars.
– Wyndham Hotels & Resorts Inc ($NYSE:WH)
Wyndham Hotels & Resorts, Inc. is one of the largest hotel companies in the world, with over 9,000 hotels across more than 80 countries. The company offers a variety of hotel brands, including Wyndham, Ramada, Days Inn, Super 8, and Howard Johnson. Wyndham Hotels & Resorts is headquartered in Parsippany, New Jersey. The company’s market cap is 6.2B as of 2022 and its ROE is 30.65%.
Summary
Investment analysis of MGM Resorts International has been overwhelmingly positive, as evidenced by Belpointe Asset Management LLC recently trimming its stake in the company. Analysts have highlighted the potential for the company, due to its large portfolio of casino resorts and hotels, as well as its presence in multiple markets across the US and internationally. Furthermore, analysts point to the company’s strong balance sheet and liquidity, as well as its ability to leverage its existing assets in order to drive growth.
MGM’s strong customer loyalty and brand recognition also factor into positive views of the company. Overall, analysts are bullish on MGM’s potential and view it as a solid long-term investment.
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