Could MGM Resorts International (MGM) Lose its Strength? The Stock Reaches 52-Week High

January 21, 2018 - By Stephen Andrade

Investors sentiment increased to 1.53 in 2017 Q3. Its up 0.52, from 1.01 in 2017Q2. It increased, as 43 investors sold MGM Resorts International shares while 113 reduced holdings. 94 funds opened positions while 145 raised stakes. 458.66 million shares or 7.73% more from 425.76 million shares in 2017Q2 were reported.
Kentucky Retirement Systems Tru Fund has 0.07% invested in MGM Resorts International (NYSE:MGM). Ci Invs Inc, a Ontario – Canada-based fund reported 372 shares. Iridian Asset Lc Ct stated it has 1.94% of its portfolio in MGM Resorts International (NYSE:MGM). Envestnet Asset Management accumulated 14,761 shares. Gabelli Funds Limited Co owns 948,681 shares. Rhumbline Advisers owns 833,749 shares or 0.06% of their US portfolio. Caldwell And Orkin owns 21,300 shares. Amp Capital Investors Limited stated it has 206,694 shares. Plante Moran Fincl Advisors Ltd Liability invested in 0% or 250 shares. Winfield invested in 0.01% or 716 shares. Fortaleza Asset Mngmt Inc reported 18,055 shares or 1.07% of all its holdings. 1.53 million were reported by Nwi Management Lp. Strs Ohio holds 0% or 31,600 shares in its portfolio. State Street Corp holds 0.05% in MGM Resorts International (NYSE:MGM) or 19.08 million shares. Louisiana State Employees Retirement System owns 32,300 shares.

Since July 31, 2017, it had 0 buys, and 11 sales for $18.81 million activity. HERMAN ALEXIS sold 3,745 shares worth $121,732. Another trade for 49,179 shares valued at $1.63M was sold by BALDWIN ROBERT. GAY MARY CHRISTINE also sold $95,648 worth of MGM Resorts International (NYSE:MGM) on Monday, August 7. Shares for $1.81M were sold by MURREN JAMES. $1.03M worth of stock was sold by D’ARRIGO DANIEL on Thursday, September 7. The insider SANDERS COREY IAN sold 16,446 shares worth $553,133.

The stock of MGM Resorts International (NYSE:MGM) hit a new 52-week high and has $37.44 target or 3.00 % above today’s $36.35 share price. The 6 months bullish chart indicates low risk for the $20.58B company. The 1-year high was reported on Jan, 21 by Barchart.com. If the $37.44 price target is reached, the company will be worth $617.37M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 0.78% or $0.28 during the last trading session, reaching $36.35. About 5.99 million shares traded. MGM Resorts International (NYSE:MGM) has risen 45.28% since January 21, 2017 and is uptrending. It has outperformed by 28.58% the S&P500.

Analysts await MGM Resorts International (NYSE:MGM) to report earnings on February, 15. They expect $0.07 earnings per share, down 36.36 % or $0.04 from last year’s $0.11 per share. MGM’s profit will be $39.63 million for 129.82 P/E if the $0.07 EPS becomes a reality. After $0.33 actual earnings per share reported by MGM Resorts International for the previous quarter, Wall Street now forecasts -78.79 % negative EPS growth.

MGM Resorts International (NYSE:MGM) Ratings Coverage

Among 16 analysts covering MGM Resorts (NYSE:MGM), 12 have Buy rating, 0 Sell and 4 Hold. Therefore 75% are positive. MGM Resorts had 55 analyst reports since August 5, 2015 according to SRatingsIntel. On Wednesday, October 5 the stock rating was maintained by Nomura with “Buy”. As per Monday, November 2, the company rating was upgraded by UBS. Goldman Sachs maintained MGM Resorts International (NYSE:MGM) on Wednesday, April 5 with “Buy” rating. Stifel Nicolaus maintained the shares of MGM in report on Friday, February 17 with “Buy” rating. The company was maintained on Monday, June 20 by Susquehanna. The rating was maintained by Stifel Nicolaus on Thursday, November 9 with “Hold”. The firm earned “Buy” rating on Thursday, August 11 by Buckingham Research. The firm has “Buy” rating given on Thursday, July 27 by Deutsche Bank. Telsey Advisory Group maintained the shares of MGM in report on Friday, June 17 with “Outperform” rating. The firm earned “Buy” rating on Friday, December 16 by Goldman Sachs.

More notable recent MGM Resorts International (NYSE:MGM) news were published by: Prnewswire.com which released: “MGM Resorts International Sponsors the Dr. Martin Luther King, Jr. Annual …” on January 10, 2018, also Prnewswire.com with their article: “MGM Resorts International Announces Launch Of New Investor Relations Website …” published on January 12, 2018, Investorplace.com published: “MGM Resorts International Stock Is Well Positioned to Roar Again” on January 09, 2018. More interesting news about MGM Resorts International (NYSE:MGM) were released by: Courant.com and their article: “MGM Moves Into Corporate Offices In Springfield Casino Complex” published on January 16, 2018 as well as Prnewswire.com‘s news article titled: “MGM Resorts International Announces Fourth Quarter And Full Year 2017 Earnings …” with publication date: January 18, 2018.

MGM Resorts International, through its wholly owned subsidiaries, owns and/or operates casino resorts in the United States and China. The company has market cap of $20.58 billion. The firm operates through two divisions, Domestic Resorts and MGM China. It has a 35.71 P/E ratio. The Company’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

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