Economy

UBS AG Downgrades MGM Resorts International (MGM) to Neutral

Telsey Advisory Group maintained the shares of MGM in report on Tuesday, January 17 with "Outperform" rating.

10/03/2017 - MGM Resorts International was downgraded to "neutral" by analysts at Susquehanna. Raymond James Financial Services Advisors Inc. lifted its position in shares of MGM Resorts International by 44.1% during the 2nd quarter. On September 11 the company was set at "Hold" by Deutsche Bank a cut from the previous "Buy" rating. The company now has an average rating of "Buy" and an average price target of $33.87.

Since the beginning of the calendar year, the stock is 3.83%. The shares were sold at an average price of $34.08, for a total value of $10,024,632.00. The stock declined 0.70% or $0.21 reaching $29.86 per share. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The stock was sold at an average price of $33.86, for a total transaction of $1,365,404.50. Following the completion of the sale, the insider now directly owns 145,105 shares of the company's stock, valued at $4,807,328.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 819,831 shares of company stock worth $27,686,927. Insiders own 12.20% of the company's stock. Laurion Capital Management LP now owns 68,500 shares of the company's stock valued at $1,877,000 after buying an additional 1,568,500 shares during the period. MGM Resorts International's revenue was up 16.4% compared to the same quarter past year. Raymond James Financial Services Advisors Inc. boosted its position in shares of MGM Resorts International by 0.4% in the first quarter. Moreover, Broad Run Investment Management Llc has 1.21% invested in the company for 1.58 million shares. Following the transaction, the chief accounting officer now directly owns 197,993 shares in the company, valued at $6,704,042.98. Institutional investors and hedge funds own 75.20% of the company's stock.

Mandekic Anthony Leo also sold $370,375 worth of MGM Resorts International (NYSE:MGM) shares. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable.

The highest price MGM stock touched in the last 12 month was $34.65 and the lowest price it hit in the same period was $25.15. TAYLOR DANIEL J sold $369,247 worth of MGM Resorts International (NYSE:MGM) on Monday, May 1. Looking at a shorter time period, shares have been seen -3.68% away from the 50 day high and 14.47% off the 50 day low price.

MGM Resorts International (NYSE:MGM) last released its earnings results on Thursday, July 27th.

EPS Estimate for the next Quarter is 0.35. MGM Resorts International had a return on equity of 7.97% and a net margin of 9.26%. The firm had revenue of $2.64 billion during the quarter, compared to analyst estimates of $2.67 billion. They expect $0.27 earnings per share, down 15.63% or $0.05 from last year's $0.32 per share. The business's quarterly revenue was up 16.4% compared to the same quarter a year ago.

If we look at the Volatility of MGM Resorts International (MGM), Week Volatility is 2.04%, whereas Month Volatility is at 2.08%. This buyback authorization allows the company to reacquire up to 5.3% of its shares through open market purchases. Elk Creek Partners LLC now owns 16,844 shares of the company's stock valued at $462,000 after buying an additional 1,484 shares during the period. Additionally MGM Resorts International declared a dividend paid on Friday September 15th, 2017. SANDERS COREY IAN had sold 19,855 shares worth $615,686 on Monday, May 1. Stockholders of record on Friday, June 9th will be issued a $0.11 dividend. MGM Resorts International's dividend payout ratio (DPR) is presently 26.04%.

ILLEGAL ACTIVITY WARNING: This news story was originally reported by TrueBlueTribune and is the sole property of of TrueBlueTribune. If you are accessing this news story on another domain, it was stolen and republished in violation of global copyright and trademark laws. The correct version of this report can be accessed at https://weekherald.com/2017/10/14/mgm-resorts-international-mgm-stake-lessened-by-california-state-teachers-retirement-system.html.

MGM Resorts International is a holding company.

MGM Resorts International's insider ownership stands at 10.1 percent, while its insider transaction is -1.14 percent. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.



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