Ownership Action Don’t Lie: Metro-goldwyn-mayer Inc (NYSE:MGM) Institutional Investor Positioning

November 29, 2016 - By Ruchi Gupta   ·   0 Comments

Ownership Action Don't Lie: Metro goldwyn mayer Inc (NYSE:MGM) Institutional Investor Positioning

Sentiment for Metro-goldwyn-mayer Inc (NYSE:MGM)

Metro-goldwyn-mayer Inc (NYSE:MGM) institutional sentiment decreased to 0.98 in 2016 Q2. Its down -0.42, from 1.4 in 2016Q1. The ratio turned negative, as 183 funds started new or increased stock positions, while 131 cut down and sold positions in Metro-goldwyn-mayer Inc. The funds in our partner’s database now have: 397.52 million shares, up from 397.31 million shares in 2016Q1. Also, the number of funds holding Metro-goldwyn-mayer Inc in their top 10 stock positions decreased from 16 to 14 for a decrease of 2. Sold All: 37 Reduced: 94 Increased: 127 New Position: 56.

MGM Resorts International is a holding company. The company has a market cap of $16.55 billion. The Firm owns and operates casino resorts. It has a 57.85 P/E ratio. It operates in two divisions: wholly owned domestic resorts and MGM China.

About 6.85M shares traded hands. MGM Resorts International (NYSE:MGM) has risen 31.55% since April 26, 2016 and is uptrending. It has outperformed by 26.29% the S&P500.

Analysts await MGM Resorts International (NYSE:MGM) to report earnings on February, 16. They expect $0.14 EPS, up 1,500.00% or $0.15 from last year’s $-0.01 per share. MGM’s profit will be $80.45M for 51.43 P/E if the $0.14 EPS becomes a reality. After $0.58 actual EPS reported by MGM Resorts International for the previous quarter, Wall Street now forecasts -75.86% negative EPS growth.

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.”

Beach Point Capital Management Lp holds 18.34% of its portfolio in MGM Resorts International for 1.50 million shares. Land & Buildings Investment Management Llc owns 1.31 million shares or 16.06% of their US portfolio. Moreover, Canyon Capital Advisors Llc has 15.67% invested in the company for 17.41 million shares. The New York-based Hg Vora Capital Management Llc has invested 13.8% in the stock. Brookside Capital Management Llc, a Massachusetts-based fund reported 6.80 million shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 0 buys, and 8 sales for $400000.00 billion net activity.

MGM Resorts International (NYSE:MGM) Ratings Coverage

Ratings analysis reveals 100% of MGM Resorts’s analysts are positive. Out of 12 Wall Street analysts rating MGM Resorts, 12 give it “Buy”, 0 “Sell” rating, while 0 recommend “Hold”. The lowest target is $22 while the high is $33. The stock’s average target of $29.57 is 2.67% above today’s ($28.8) share price. MGM was included in 26 notes of analysts from August 5, 2015. Susquehanna maintained MGM Resorts International (NYSE:MGM) on Monday, June 20 with “Positive” rating. Nomura maintained the shares of MGM in a report on Wednesday, October 5 with “Buy” rating. The stock of MGM Resorts International (NYSE:MGM) has “Buy” rating given on Thursday, October 6 by Argus Research. UBS upgraded the stock to “Buy” rating in Monday, November 2 report. The firm has “Buy” rating given on Wednesday, August 5 by Stifel Nicolaus. The firm has “Buy” rating given on Thursday, August 11 by Buckingham Research. The stock has “Hold” rating given by Zacks on Wednesday, August 5. As per Thursday, January 28, the company rating was upgraded by JP Morgan. The stock has “Overweight” rating given by JP Morgan on Tuesday, October 13. The firm has “Strong-Buy” rating by Vetr given on Monday, August 31.

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.

More notable recent MGM Resorts International (NYSE:MGM) news were published by: Barrons.com which released: “MGM Resorts International’s Winning Hand” on November 26, 2016, also Prnewswire.com with their article: “Industry Veteran Aaron Fischer Joins MGM Resorts International as Senior Vice …” published on November 14, 2016, Prnewswire.com published: “MGM Resorts International Reports Third Quarter Financial And Operating Results” on November 07, 2016. More interesting news about MGM Resorts International (NYSE:MGM) were released by: Reuters.com and their article: “MGM Resorts ready to bet up to $10 billion on Japan casino, possibly via R…” published on October 31, 2016 as well as Masslive.com‘s news article titled: “MGM Resorts International to announce Q3 results, discuss plans for Japan …” with publication date: November 03, 2016.

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By Ruchi Gupta

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