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.



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