November 23, 2016 - By Richard Conner
Based on an average stock price per share of $29.1, Corey Sanders, the Mgm Resorts International’s CHIEF OPERATING OFFICER unloaded 26,540 shares of Mgm Resorts International worth exactly $772,364 US Dollars. At present, Corey Sanders owns 138,912 shares which make up around 0.02% of the company’s total market capitalization. The dated 22-11-2016 transaction’s report filed with the SEC is at your disposal for a review here.
Out of 12 analysts covering MGM Resorts (NYSE:MGM), 12 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $33 is the highest target while $22 is the lowest. The $29.57 average target is 3.00% above today’s ($28.71) stock price. MGM Resorts has been the topic of 26 analyst reports since August 5, 2015 according to StockzIntelligence Inc. On Wednesday, April 13 the stock rating was maintained by Citigroup with “Buy”. Nomura maintained the shares of MGM in a report on Wednesday, October 5 with “Buy” rating. UBS maintained it with “Buy” rating and $29 target price in Monday, June 20 report. The firm has “Outperform” rating by Telsey Advisory Group given on Friday, May 6. The stock of MGM Resorts International (NYSE:MGM) has “Buy” rating given on Friday, June 17 by Deutsche Bank. The company was maintained on Monday, June 20 by Susquehanna. As per Monday, August 31, the company rating was downgraded by Vetr. The firm has “Overweight” rating by JP Morgan given on Thursday, January 28. The stock of MGM Resorts International (NYSE:MGM) has “Overweight” rating given on Friday, May 6 by Morgan Stanley. The company was maintained on Wednesday, August 5 by Stifel Nicolaus.
Insitutional Activity: The institutional sentiment decreased to 0.98 in 2016 Q2. Its down 0.42, from 1.4 in 2016Q1. The ratio fall, 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.
Panagora Asset Mgmt has 9,081 shares for 0% of their US portfolio. Deutsche Bank & Trust Ag accumulated 0.04% or 2.53M shares. Moreover, Credit Agricole S A has 0.04% invested in MGM Resorts International (NYSE:MGM) for 461,664 shares. Victory Cap Mgmt Inc holds 71,784 shares or 0.01% of its portfolio. Century has invested 0.09% of its portfolio in MGM Resorts International (NYSE:MGM). Envestnet Asset Mgmt Inc last reported 0% of its portfolio in the stock. Citadel last reported 0.02% of its portfolio in the stock. First Western Cap Mngmt reported 37,700 shares or 0.31% of all its holdings. Moreover, Wall Street Assocs has 0.11% invested in MGM Resorts International (NYSE:MGM) for 12,525 shares. The Ontario – Canada-based Toronto Dominion National Bank has invested 0% in MGM Resorts International (NYSE:MGM). Moreover, Crystal Rock has 3.2% invested in MGM Resorts International (NYSE:MGM) for 191,200 shares. Teachers reported 3.70M shares or 0.15% of all its holdings. Macquarie Grp Incorporated Ltd has 389,070 shares for 0.02% of their US portfolio. Suntrust Banks, a Georgia-based fund reported 108,069 shares. Moreover, Concourse Capital Limited Liability Co has 4.36% invested in MGM Resorts International (NYSE:MGM) for 310,259 shares.
Insider Transactions: Since May 24, 2016, the stock had 0 insider buys, and 8 insider sales for $400000.00 billion net activity. MURREN JAMES sold 90,525 shares worth $2.53 million. Shares for $364,593 were sold by SELWOOD ROBERT. Another trade for 12,363 shares valued at $302,136 was sold by McManus John. 4.00 million MGM Resorts International (NYSE:MGM) shares with value of $400000.00B were sold by TRACINDA CORP. Another trade for 2,948 shares valued at $68,783 was sold by Mckinney-James Rose. The insider HORNBUCKLE WILLIAM sold 26,225 shares worth $749,033. 2,391 MGM Resorts International (NYSE:MGM) shares with value of $58,962 were sold by HERMAN ALEXIS.
The stock decreased 0.90% or $0.26 during the last trading session, hitting $28.71. About 7.08M shares traded hands or 6.95% up from the average. MGM Resorts International (NYSE:MGM) has risen 27.12% since April 20, 2016 and is uptrending. It has outperformed by 22.56% the S&P500.
MGM Resorts International is a holding company. The company has a market cap of $16.77 billion. The Firm owns and operates casino resorts. It has a 57.67 P/E ratio. It operates in two divisions: wholly owned domestic resorts and MGM China.
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.”
More notable recent MGM Resorts International (NYSE:MGM) news were published by: Prnewswire.com which released: “Industry Veteran Aaron Fischer Joins MGM Resorts International as Senior Vice ..” on November 14, 2016, also Prnewswire.com with their article: “MGM Resorts International Reports Third Quarter Financial And Operating Results” published on November 07, 2016, Masslive.com published: “MGM Resorts International to announce Q3 results, discuss plans for Japan ..” on November 03, 2016. More interesting news about MGM Resorts International (NYSE:MGM) were released by: Zacks.com and their article: “Is MGM Resorts International (MGM) Stock a Solid Choice Right Now?” published on November 18, 2016 as well as Prnewswire.com‘s news article titled: “MGM Resorts International Announces Third Quarter 2016 Earnings Release Date” with publication date: October 25, 2016.
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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