The stock of MGM Resorts International (NYSE:MGM) is a huge mover today! About 2.55M shares traded hands. MGM Resorts International (NYSE:MGM) has risen 37.51% since February 29, 2016 and is uptrending. It has outperformed by 25.29% the S&P500.
The move comes after 6 months positive chart setup for the $14.94 billion company. It was reported on Oct, 3 by Barchart.com. We have $39.08 PT which if reached, will make NYSE:MGM worth $7.32 billion more.
Analysts await MGM Resorts International (NYSE:MGM) to report earnings on November, 3. They expect $0.10 earnings per share, down 33.33% or $0.05 from last year’s $0.15 per share. MGM’s profit will be $56.96M for 65.58 P/E if the $0.10 EPS becomes a reality. After $0.26 actual earnings per share reported by MGM Resorts International for the previous quarter, Wall Street now forecasts -61.54% negative EPS growth.
MGM Resorts International (NYSE:MGM) Ratings Coverage
Out of 11 analysts covering MGM Resorts (NYSE:MGM), 11 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. MGM Resorts has been the topic of 22 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm earned “Outperform” rating on Friday, May 6 by Telsey Advisory Group. The firm has “Buy” rating by Stifel Nicolaus given on Wednesday, August 5. The stock of MGM Resorts International (NYSE:MGM) earned “Outperform” rating by Telsey Advisory Group on Friday, June 17. The rating was maintained by Deutsche Bank with “Buy” on Friday, June 17. As per Thursday, January 28, the company rating was upgraded by JP Morgan. As per Wednesday, April 13, the company rating was maintained by Citigroup. As per Thursday, August 11, the company rating was initiated by Buckingham Research. UBS upgraded the stock to “Buy” rating in Monday, November 2 report. The stock of MGM Resorts International (NYSE:MGM) earned “Buy” rating by Stifel Nicolaus on Thursday, June 9. UBS maintained MGM Resorts International (NYSE:MGM) on Monday, June 20 with “Buy” rating.
According to Zacks Investment Research, “MGM Resorts International, formerly known as MGM MIRAGE, is a global hospitality company, operating a portfolio of destination resort brands, including Bellagio, MGM Grand, Mandalay Bay and The Mirage. The CompanyÂ’s resorts offer gaming, hotel, dining, entertainment, retail, and other resort amenities. It owns and operates properties located in Nevada, Mississippi and Michigan, and has investments in some properties in Nevada, Illinois and Macau. Through its hospitality management subsidiary, the Company holds a growing number of development and management agreements for casino and non-casino resort projects around the world. MGM Resorts International is based in Las Vegas, Nevada.”
Insitutional Activity: The institutional sentiment increased to 1.4 in 2016 Q2. Its up 0.30, from 1.1 in 2016Q1. The ratio improved, as 37 funds sold all MGM Resorts International shares owned while 94 reduced positions. 56 funds bought stakes while 127 increased positions. They now own 397.52 million shares or 0.05% more from 397.31 million shares in 2016Q1.
Jefferies Gp Limited Company owns 26,798 shares or 0% of their US portfolio. Td Asset Management accumulated 543,745 shares or 0.02% of the stock. The Germany-based Allianz Asset Ag has invested 0.02% in MGM Resorts International (NYSE:MGM). Moreover, Aberdeen Asset Management Public Ltd Com Uk has 0% invested in MGM Resorts International (NYSE:MGM) for 30,490 shares. Laurion Mgmt Ltd Partnership holds 0.01% or 30,100 shares in its portfolio. Caxton Limited Partnership owns 100,000 shares or 0.06% of their US portfolio. Hbk Investments L P last reported 349,204 shares in the company. Royal Financial Bank Of Canada reported 553,949 shares or 0.01% of all its holdings. Bank & Trust Of New York Mellon holds 0.01% of its portfolio in MGM Resorts International (NYSE:MGM) for 1.80 million shares. Rhumbline Advisers has 375,425 shares for 0.03% of their US portfolio. Fjarde Ap reported 135,001 shares or 0.07% of all its holdings. Ascend Cap Ltd last reported 100,000 shares in the company. Robeco Institutional Asset Mgmt Bv reported 16,082 shares or 0% of all its holdings. Kbc Group Incorporated Nv has invested 0.02% of its portfolio in MGM Resorts International (NYSE:MGM). Ibm Retirement Fund, a New York-based fund reported 56,195 shares.
Insider Transactions: Since May 10, 2016, the stock had 0 insider purchases, and 10 selling transactions for $400000.00 billion net activity. $735,510 worth of MGM Resorts International (NYSE:MGM) was sold by SANDERS COREY IAN. Another trade for 4.00M shares valued at $400000.00 billion was made by TRACINDA CORP on Thursday, September 1. $68,783 worth of MGM Resorts International (NYSE:MGM) was sold by Mckinney-James Rose. Shares for $278,640 were sold by TAYLOR DANIEL J on Monday, May 16. HERMAN ALEXIS sold $58,962 worth of stock. HORNBUCKLE WILLIAM sold $652,915 worth of MGM Resorts International (NYSE:MGM) on Friday, May 20. McManus John sold $94,182 worth of stock.
More notable recent MGM Resorts International (NYSE:MGM) news were published by: Fool.com which released: “Better Buy: Las Vegas Sands Corp. vs. MGM Resorts International” on October 02, 2016, also Prnewswire.com with their article: “MGM Resorts International Earns ‘Land-Based Operator of the Year’ and …” published on September 30, 2016, Prnewswire.com published: “MGM Resorts International To Present At The Deutsche Bank Leveraged Finance …” on September 27, 2016. More interesting news about MGM Resorts International (NYSE:MGM) were released by: Prnewswire.com and their article: “MGM Resorts International And MGM China Holdings Limited To Present At The …” published on September 16, 2016 as well as Prnewswire.com‘s news article titled: “MGM Resorts International To Present At The UBS & Deutsche Bank Investment …” with publication date: September 16, 2016.
MGM Company Profile
MGM Resorts International, incorporated on January 29, 1986, is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Firm operates in two divisions: wholly owned domestic resorts and MGM China. The Company’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail and other resort amenities. The Firm has additional business activities, including its investments in unconsolidated affiliates, and certain other corporate and management operations. The Firm also owns Shadow Creek, a golf course located approximately 10 miles north of its Las Vegas Strip resorts, Primm Valley Golf Club at the California/Nevada state line and Fallen Oak golf course in Saucier, Mississippi. The Firm owns and manages CityCenter Holdings, LLC, located between Bellagio and Monte Carlo. CityCenter consists of Aria, an integrated casino, hotel and entertainment resort; Mandarin Oriental Las Vegas, a non-gaming boutique hotel; Crystals, a retail, dining and entertainment district; and Vdara, a luxury condominium-hotel. In addition, CityCenter features residential units in the Residences at Mandarin Oriental and Veer. The Firm owns Borgata Hotel Casino & Spa (Borgata) and Grand Victoria, a riverboat casino in Elgin, Illinois.
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