MGM Resorts International (NYSE:MGM) Under Analyst Spotlight

Wells Fargo & Company MN Sells 226853 Shares of MGM Resorts International (NYSE:MGM)

PNC Financial Services Group Inc. lowered its holdings in MGM Resorts International (NYSE:MGM) by 20.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. In fact, when combining a Zacks Rank #3 or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time, while they also saw 28.3% annual returns on average, according to our 10 year backtest.

Several other equities analysts also recently commented on MGM. Bank of America Corporation restated a "buy" rating and set a $40.00 price target (up previously from $38.00) on shares of MGM Resorts International in a report on Friday, September 8th.

MGM's mean recommendation on Reuter's scale improved from 1.71 thirty days ago to 1.88 now, which indicates a buy consensus from the analyst community. Of all companies tracked, MGM Resorts International had the 29th highest net out-flow for the day. Stifel Nicolaus maintained the stock with "Buy" rating in Wednesday, August 5 report. The overall volume in the last trading session was 23,269,281 shares. The firm has a market capitalization of $17.80 billion, a P/E ratio of 14.37 and a beta of 1.66. The stock's current distance from 20-Day Simple Moving Average (SMA20) is -5.31%, whereas SMA50 and SMA200 are -4.28% and 2.12% respectively. On the opposite side of that transaction from Geode Capital Management, Llc stood Vanguard Group Inc which added 3332 shares to its existing stake, bringing total stake held in MGM to 187898 shares. The stock is trading for about -7.06% less than its 52-week high. This represents an increase of approximately 317% compared to the typical daily volume of 6,159 put options. Currently, MGM Resorts International (NYSE:MGM) has an average volume of 9.96 Million. With the last close down -0.96% from the two hundred day average, compared with the S&P 500 Index which has increased 0.04% over the same period. MGM Resorts International (NYSE:MGM) has risen 45.28% since October 4, 2016 and is uptrending. As of the last earnings report the EPS was $1.69 and is expected to be $1.29 for the current year with 575,192,000 shares outstanding. Shares in MGM Resorts International were trading sharply lower Monday in the wake of a mass shooting at the company's Mandalay Bay property in Las Vegas. The company shares sank -5.95% from their peak of $34.65 and now has a $19.14 billion market value of equity.

The SMA200 of the stock is at 2.12%, SMA20 is -5.31%, while SMA50 is -4.28%. If you are viewing this article on another website, it was copied illegally and reposted in violation of USA & global trademark and copyright legislation. State Street Corp boosted its holdings in MGM Resorts International by 5.9% in the 1st quarter.

MGM Resorts International also announced a dividend for shareholders that was paid on Friday September 15th, 2017. 14,942 shares valued at $459,377 were sold by McManus John on Monday, May 1. Raymond James Financial Services Advisors Inc. now owns 34,213 shares of the company's stock valued at $937,000 after purchasing an additional 140 shares during the period. There were 61 sold out positions, amounting to 15.02 million shares. Northpointe Capital Ltd Liability Company invested in 0.69% or 402,202 shares. The disclosure for this sale can be found here. However, their relatively high multiples do not necessarily mean their stocks are overpriced and not good buys for the long term. Insiders own 12.20% of the company's stock.

Hedge funds have recently modified their holdings of the stock. MGM owns and operates 13 resorts and casinos in Las Vegas. For the last quarter, the stock has performed 0.69%. Finally, Hartford Investment Management Co. bought a new stake in MGM Resorts International during the third quarter worth about $201,000. Moreover, Shell Asset Management has 0.02% invested in MGM Resorts International (NYSE:MGM). Neuberger Berman Group LLC grew its position in MGM Resorts International by 63.2% during the 2nd quarter.

TRADEMARK VIOLATION NOTICE: "L & S Advisors Inc Buys 11,199 Shares of MGM Resorts International (MGM)" was first posted by StockNewsTimes and is owned by of StockNewsTimes. The firm's institutional ownership remained 77.60% while insider ownership included 10.10%. It is positive, as 31 investors sold HSIC shares while 164 reduced holdings. It owns and operates properties located in Nevada, Mississippi and MI, and has investments in some properties in Nevada, Illinois and Macau.

Meiji Yasuda Life Insurance Company decreased Mgm Resorts International (MGM) stake by 46.94% reported in 2017Q2 SEC filing.

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