Financial Update of MGM Resorts International (NYSE:MGM)
Financial Update of MGM Resorts International (NYSE:MGM)
12 October, 2017, 11:19
The market capitalization of the company is at $17.59 Billion. Stifel Nicolaus maintained it with "Buy" rating and $28 target in Wednesday, August 5 report.
Want to see what other hedge funds are holding MGM? Gates Capital Management Inc sold 1.33 million shares as Mgm Resorts International (MGM)'s stock rose 17.48%. For the quarter, shares have been noted at -9.96%. MGM Resorts International has a 52-week low of $21.31 and a 52-week high of $32.28. Telsey Advisory Group maintained the stock with "Outperform" rating in Friday, July 28 report. Bank of America Corporation reiterated a "buy" rating and set a $40.00 target price (up previously from $38.00) on shares of MGM Resorts International in a report on Friday, September 8th. The stock has "Buy" rating by Stifel Nicolaus on Wednesday, August 5. Td Asset Management invested in 0.03% or 575,452 shares.
A number of equities research analysts have recently commented on MGM shares. Looking further out we can see that the stock has moved 67.80% over the year to date. Shares buyback programs are often a sign that the company's management believes its shares are undervalued. The company has Beta Value of 1.45 and ATR value of 0.71.
MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Thursday, July 27th.
MGM is now undervalued by -18.7% relative to the average 1-year price target of $37.43 taken from a group of Wall Street Analysts. Twin Tree Mgmt Lp invested 0.03% of its portfolio in MGM Resorts International (NYSE:MGM). This estimate is provided by 11 analysts. The analysts estimated EPS for the higher end at 0.42 and lower end at 0.03 while the year ago reported earnings per share was 0.33. FMR LLC now owns 7,242,214 shares of the company's stock worth $226,609,000 after purchasing an additional 2,897,242 shares during the period. $615,686 worth of MGM Resorts International (NYSE:MGM) was sold by SANDERS COREY IAN on Monday, May 1.
ILLEGAL ACTIVITY NOTICE: This piece was first published by Week Herald and is the property of of Week Herald. If you are accessing this article on another publication, it was copied illegally and reposted in violation of U.S. and global copyright & trademark laws. The correct version of this piece can be read at https://weekherald.com/2017/10/10/mgm-resorts-international-mgm-given-a-35-00-price-target-at-morgan-stanley.html. LBY's profit will be $4.62 million for 11.79 P/E if the $0.21 EPS becomes a reality. This represents a $0.44 dividend on an annualized basis and a yield of 1.43%. Pacad Investment Ltd. acquired a new stake in MGM Resorts International during the fourth quarter worth approximately $199,000. This recommendation lands on a scale between 1 and 5. Aberdeen Asset Management Public Ltd Company Uk owns 51,254 shares. Analysts pegging the company with a rating of 3 would be indicating a Hold recommendation. MGM Resorts International (NYSE:MGM) has been trading in a bullish manner, based on the relative positions of the stock's 20 and 200 day moving averages. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Murren sold 259,760 shares of MGM Resorts International stock in a transaction that occurred on Thursday, September 7th.
The stock is now showing YTD performance of 6.87 Percent. Following the transaction, the chief executive officer now directly owns 71,442 shares of the company's stock, valued at $2,442,601.98. The disclosure for this purchase can be found here.
MGM Resorts International (MGM) belonging to the Consumer Cyclical sector has closed its last trading session at $30.81. Company insiders own 16.90% of the company's stock.
Several other large investors have also recently modified their holdings of MGM. The Robeco Institutional Asset Management holds 14,187 shares with $445,000 value, down from 196,922 last quarter. Global X Management Co. Ray Gerald L And Associate Limited stated it has 0.22% in MGM Resorts International (NYSE:MGM). The stock exchanged hands with 9,083,849 numbers of shares compared to its average daily volume of 10.30M shares. Finally, Cigna Investments Inc. FMR LLC grew its holdings in shares of MGM Resorts International by 66.7% during the 2nd quarter.
MGM Resorts International is a holding company. The Firm operates through six business divisions: office real estate, includes property which is primarily used by commercial tenants; retail real estate, includes property comprising primarily high street retail or shopping centers, together with leisure assets; industrial real estate, property for the objective of manufacturing and distribution; residential real estate; loans secured by real estate, and hotels, includes ownership and management of hotels; Fairmont St Andrews Hotel and Portmarnock Hotel (Ireland). The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.
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