Could MGM Resorts International Lose Strenght? Option Traders Don’t Think So

 Could MGM Resorts International Lose Strenght? Option Traders Don't Think So

In today’s session MGM Resorts International (MGM) registered an unusually high (805) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the December, 2016 call, expecting serious MGM increase. With 805 contracts traded and 65004 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: MGM161216C00025000 closed last at: $2.16 or 0% . About 2.30M shares traded hands. MGM Resorts International (NYSE:MGM) has risen 31.04% since March 3, 2016 and is uptrending. It has outperformed by 22.69% the S&P500.

Analysts await MGM Resorts International (NYSE:MGM) to report earnings on November, 3. They expect $0.10 EPS, down 33.33% or $0.05 from last year’s $0.15 per share. MGM’s profit will be $57.44M for 66.73 P/E if the $0.10 EPS becomes a reality. After $0.26 actual EPS reported by MGM Resorts International for the previous quarter, Wall Street now forecasts -61.54% negative EPS growth.

MGM Resorts International (NYSE:MGM) Ratings Coverage

Out of 12 analysts covering MGM Resorts (NYSE:MGM), 12 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. MGM Resorts has been the topic of 24 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The company was upgraded on Thursday, January 28 by JP Morgan. Vetr downgraded it to “Strong-Buy” rating and $23.25 target price in Monday, August 31 report. Nomura maintained MGM Resorts International (NYSE:MGM) rating on Wednesday, October 5. Nomura has “Buy” rating and $32 price target. JP Morgan maintained the shares of MGM in a report on Tuesday, October 13 with “Overweight” rating. As per Friday, October 30, the company rating was maintained by Deutsche Bank. Telsey Advisory Group maintained the shares of MGM in a report on Friday, May 6 with “Outperform” rating. The stock of MGM Resorts International (NYSE:MGM) has “Outperform” rating given on Friday, June 17 by Telsey Advisory Group. Citigroup maintained MGM Resorts International (NYSE:MGM) rating on Wednesday, April 13. Citigroup has “Buy” rating and $32 price target. Argus Research upgraded the stock to “Buy” rating in Thursday, October 6 report. The stock of MGM Resorts International (NYSE:MGM) earned “Buy” rating by UBS on Monday, June 20.

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.”

Insitutional Activity: The institutional sentiment increased to 1.4 in 2016 Q2. Its up 0.30, from 1.1 in 2016Q1. The ratio is positive, 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.
Pomelo Cap Limited Liability last reported 75,000 shares in the company. Schwab Charles Invest Mngmt accumulated 718,054 shares or 0.02% of the stock. The United Kingdom-based Marshall Wace Ltd Liability Partnership has invested 0.06% in MGM Resorts International (NYSE:MGM). Deutsche Natl Bank Ag accumulated 0.04% or 2.53M shares. Gulf Int National Bank & Trust (Uk) Limited owns 7,430 shares or 0% of their US portfolio. State Board Of Administration Of Florida Retirement Systems last reported 643,600 shares in the company. Brookside Cap Mgmt Ltd Company, a Massachusetts-based fund reported 6.80 million shares. First Western Capital Mngmt Com holds 37,700 shares or 0.31% of its portfolio. Wall Street Assocs holds 0.11% of its portfolio in MGM Resorts International (NYSE:MGM) for 12,525 shares. Advisory Ser Ntwk Ltd Llc has invested 0% of its portfolio in MGM Resorts International (NYSE:MGM). Hap Trading Lc holds 63,355 shares or 0.08% of its portfolio. Daiwa Securities Group Inc reported 15,350 shares or 0% of all its holdings. Gamco Investors Et Al accumulated 0.01% or 99,850 shares. Ironwood Lc holds 0% or 14 shares in its portfolio. Ray Gerald L & Limited holds 0.22% or 60,250 shares in its portfolio.

Insider Transactions: Since May 10, 2016, the stock had 0 insider buys, and 10 insider sales for $400000.00 billion net activity. SANDERS COREY IAN also sold $748,827 worth of MGM Resorts International (NYSE:MGM) shares. 30,354 shares with value of $652,915 were sold by HORNBUCKLE WILLIAM on Friday, May 20. 4,116 shares were sold by McManus John, worth $94,182. $400000.00 billion worth of shares were sold by TRACINDA CORP on Thursday, September 1. HERMAN ALEXIS had sold 2,391 shares worth $58,962. 12,631 shares were sold by TAYLOR DANIEL J, worth $278,640. The insider Mckinney-James Rose sold $68,783.

MGM Resorts International is a holding company. The company has a market cap of $15.33 billion. The Firm owns and operates casino resorts. It currently has negative earnings. It operates in two divisions: wholly owned domestic resorts and MGM China.

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: Fool.com which released: “Better Buy: Las Vegas Sands Corp. vs. MGM Resorts International” on October 02, 2016, also Prnewswire.com with their article: “MGM Resorts International Earns ‘Land-Based Operator of the Year’ and …” published on September 30, 2016, Prnewswire.com published: “MGM Resorts International To Present At The Deutsche Bank Leveraged Finance …” on September 27, 2016. More interesting news about MGM Resorts International (NYSE:MGM) were released by: Prnewswire.com and their article: “MGM Resorts International And MGM China Holdings Limited To Present At The …” published on September 16, 2016 as well as Prnewswire.com‘s news article titled: “MGM Resorts International To Present At The UBS & Deutsche Bank Investment …” with publication date: September 16, 2016.

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