Economy

Investors Buy MGM Resorts International (MGM) on Weakness

In the past 52 weeks the company's stock price has moved within the range of $25.15 to $34.65. Brookfield Asset Management Inc. had 24 analyst reports since August 10, 2015 according to SRatingsIntel.

Empire Resorts, Inc.is a holding company for various subsidiaries engaged in the hospitality and gaming industries. MGM was included in 5 notes of analysts from October 5, 2016.

When it comes to the Analysis of a Stock, Price Target plays a vital role. BidaskClub lowered shares of MGM Resorts International from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 1st. Stifel Nicolaus maintained it with "Buy" rating and $38.0 target in Wednesday, August 30 report. "Ultimately, through all this investigation into the company's performance the analyst decides if their stock is a "buy", sell" or hold".

04/03/2017 - MGM Resorts International had its "buy" rating reiterated by analysts at Goldman Sachs.

The Relative Volume of the company is 0.69 and Average Volume (3 months) is 10.4 million.

MGM Resorts International (NYSE:MGM) has a beta of 1.43, compared to a beta of 1 for the market, which implies that the stock's price movements are more extreme than the market as a whole. The firm has a 50 day moving average of $31.78 and a 200 day moving average of $31.46.

More notable recent MGM Resorts International (NYSE:MGM) news were published by: Reviewjournal.com which released: "MGM Resorts seems to know location of Jesus Campos" on October 17, 2017, also Seekingalpha.com with their article: "Mandalay Bay Tragedy Temporarily Masks Higher Valuation For MGM" published on October 19, 2017, Prnewswire.com published: "MGM Resorts International Announces Third Quarter 2017 Earnings Release Date" on October 13, 2017.

Analysts await MGM Resorts International (NYSE:MGM) to report earnings on November, 6. Revenue, on the other hand, scored -1.31% growth from the previous quarter, coming up with $2.67 billion. The firm's revenue for the quarter was up 16.4% on a year-over-year basis. The company reported $0.58 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $0.11 by $0.47. On average, analysts expect that MGM Resorts International will post $1.27 earnings per share for the current fiscal year. Croft reported 1.29% of its portfolio in MGM Resorts International (NYSE:MGM). This buyback authorization allows the company to repurchase up to 5.3% of its stock through open market purchases. Shares buyback programs are usually a sign that the company's leadership believes its stock is undervalued. $181,743 worth of MGM Resorts International (NYSE:MGM) was sold by BIBLE WILLIAM A. If you are reading this news story on another domain, it was stolen and republished in violation of U.S. and worldwide trademark & copyright legislation. The legal version of this news story can be viewed at https://www.dispatchtribunal.com/2017/10/23/investors-buy-mgm-resorts-international-mgm-on-weakness.html.

The stock of MGM Resorts International (MGM) shows a multiple tops pattern with $33.17 target or 7.00 % above today's $31.00 share price. The shares were sold at an average price of $33.13, for a total transaction of $1,629,300.27. The company shares sank -43.4% from their peak of $ 11.29 and now has a $967 million market value of equity. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

In other news, CEO James Murren sold 259,760 shares of the business's stock in a transaction dated Thursday, September 7th. Iridian Asset Mgmt Ltd Liability Company Ct reported 6.14M shares. The disclosure for this sale can be found here. FMR LLC now owns 4,344,972 shares of the company's stock worth $119,052,000 after purchasing an additional 1,122,572 shares in the last quarter.

Several hedge funds have recently modified their holdings of the company.

WARNING: "BlackRock Institutional Trust Company N.A. Raises Stake in MGM Resorts International (MGM)" was first reported by Financial Market News and is owned by of Financial Market News. After $0.31 actual EPS reported by MGM Resorts International for the previous quarter, Wall Street now forecasts 9.68% EPS growth. The Connecticut-based Nantahala Capital Management Llc has invested 3.09% in the stock. Insiders have sold 819,831 shares of company stock worth $27,686,927 in the last quarter. Ci Invests invested 0% of its portfolio in MGM Resorts International (NYSE:MGM).

MGM Resorts International declared that its board has authorized a share buyback plan on Tuesday, September 5th that permits the company to buyback $1.00 billion in outstanding shares.

Other hedge funds also recently modified their holdings of the company. BlackRock Institutional Trust Company N.A.'s holdings in MGM Resorts International were worth $303,878,000 as of its most recent SEC filing.



Like this

Latest


24 October 2017
Karolina Pliskova kicks off WTA Finals with win over Venus Williams
She failed to win a point on serve as she double-faulted and launched an ill-advised challenge, going down in the tiebreak 7-3. But, her own service faltered yet again as she lost her serve while trying to serve out the set in the 10th game of the set.

24 October 2017
Exactech, Inc. (EXAC) Downgraded by Robert W
The company's shares were given away at $28.4 per share worth to an income of some $21,215 on account of Binch James G. In other Exactech news, Director Fern Watts sold 1,013 shares of the stock in a transaction on Tuesday, August 8th.

24 October 2017
Gears Of War 4's Xbox One X Enhancements Detailed
According to IGN , four Xbox 360 titles will have enhancements specifically for the new gaming system when it arrives next month. The three games that will get fresh enhancements include Halo 3, Fallout 3, Assassin's Creed, and Elder Scrolls IV: Oblivion.

24 October 2017
Firangi trailer: Is Kapil Sharma the traitor in this pre-independence story?
The story runs in a flashback where Britishers rule India and Kapil an interesting role of a man called Mangu in the film. On October 23, a motion poster of the movie was released with a mention that the trailer will be released on Tuesday.

24 October 2017
Wild winger Zach Parise has back surgery
The Wild announced Tuesday that Parise underwent a microdisectomy procedure, which is created to fix a herniated disc. Minnesota Wild forward Zach Parise is contemplating back surgery according to Michael Russo of The Athletic .

24 October 2017
Lord & Taylor sells its flagship Manhattan store to WeWork
At the meeting, it plans to release proposals for Hudson's Bay, which could include removal of directors, Land & Buildings said. Big chains like Macy's had been under pressure from shareholders to get more value out of their real estate holdings.

24 October 2017
Valero Energy Corporation (VLO) Downgraded by Macquarie to "Neutral"
BidaskClub lowered Valero Energy Corporation from a hold rating to a sell rating in a research report on Wednesday, August 2nd. It fall, as 82 investors sold NKE shares while 439 reduced holdings. 33 funds opened positions while 37 raised stakes.

24 October 2017
Lockheed Martin Corporation (NASDAQ:LMT) To Report Earnings
Farr Miller & Washington Limited Dc holds 0.03% of its portfolio in Lockheed Martin Corporation (NYSE:LMT) for 1,058 shares. It is positive, as 37 investors sold LMT shares while 393 reduced holdings. 1,238,958 shares of the company were exchanged.

24 October 2017
Father Of Missing Girl Says She Choked On Milk And Stopped Breathing
The father was previously arrested and charged with felony endangerment to a child and was placed on electronic ankle monitoring. Wesley Mathews went outside about 15 minutes later to check on her but she was gone, the affidavit stated.

24 October 2017
'Are you kidding me?': Kid Rock says no to US Senate run
Senate" t-shirts and criticizing the Stabenow, saying Americans were "sick and tired" of "bullshit" from politicians. Are you fucking shitting me?" Rock's new album, Sweet Southern Sugar , will be released November 3, Stern said.



Recommended