November 29, 2016 - By Louis Casey · 0 Comments
MGM Resorts International (NYSE:MGM) institutional sentiment decreased to 0.98 in Q2 2016. Its down -0.42, from 1.4 in 2016Q1. The ratio fall, as 183 active investment managers increased or opened new stock positions, while 131 sold and decreased equity positions in MGM Resorts International. The active investment managers in our partner’s database now hold: 397.52 million shares, up from 397.31 million shares in 2016Q1. Also, the number of active investment managers holding MGM Resorts International 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 57.86 P/E ratio. It operates in two divisions: wholly owned domestic resorts and MGM China.
It is down 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 $80.42M for 51.45 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 insider purchases, and 8 selling transactions for $400000.00 billion net activity.
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 2.64% above today’s ($28.81) share price. MGM was included in 26 notes of analysts from August 5, 2015. UBS maintained MGM Resorts International (NYSE:MGM) rating on Monday, June 20. UBS has “Buy” rating and $29 price target. The stock has “Buy” rating given by Stifel Nicolaus on Wednesday, August 5. Susquehanna maintained the shares of MGM in a report on Monday, June 20 with “Positive” rating. Telsey Advisory Group maintained it with “Outperform” rating and $29 target price in Friday, June 17 report. The firm has “Buy” rating by Deutsche Bank given on Friday, October 30. The firm earned “Hold” rating on Wednesday, August 5 by Zacks. Morgan Stanley initiated MGM Resorts International (NYSE:MGM) on Friday, May 6 with “Overweight” rating. Telsey Advisory Group maintained MGM Resorts International (NYSE:MGM) on Friday, May 6 with “Outperform” rating. The firm earned “Buy” rating on Thursday, October 6 by Argus Research. As per Thursday, June 9, the company rating was maintained by Stifel Nicolaus.
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 Louis Casey