Aggressive’ Bearish Options Activity Seen in MGM Resorts International

 Aggressive' Bearish Options Activity Seen in MGM Resorts International

In today’s session MGM Resorts International (MGM) recorded an unusually high (2,126) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the January, 2017 put, expecting serious MGM decrease. With 2,126 contracts traded and 61884 open interest for the Jan, 17 contract, it seems this is a quite bearish bet. The option with symbol: MGM170120P00024000 closed last at: $0.87 or 7.4% up. About 2.06M shares traded hands. MGM Resorts International (NYSE:MGM) has risen 22.97% since March 14, 2016 and is uptrending. It has outperformed by 17.36% the S&P500.

Analysts await MGM Resorts International (NYSE:MGM) to report earnings on November, 3. They expect $0.10 earnings per share, down 33.33% or $0.05 from last year’s $0.15 per share. MGM’s profit will be $55.88 million for 65.10 P/E if the $0.10 EPS becomes a reality. After $0.26 actual earnings per share 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 maintained on Monday, June 20 by Susquehanna. The stock of MGM Resorts International (NYSE:MGM) has “Overweight” rating given on Friday, May 6 by Morgan Stanley. Stifel Nicolaus maintained MGM Resorts International (NYSE:MGM) rating on Thursday, June 9. Stifel Nicolaus has “Buy” rating and $30 price target. Stifel Nicolaus maintained MGM Resorts International (NYSE:MGM) on Wednesday, August 5 with “Buy” rating. Telsey Advisory Group maintained the shares of MGM in a report on Friday, June 17 with “Outperform” rating. The firm has “Buy” rating by UBS given on Monday, November 2. The company was maintained on Friday, May 6 by Telsey Advisory Group. The firm earned “Overweight” rating on Tuesday, October 13 by JP Morgan. The stock of MGM Resorts International (NYSE:MGM) earned “Buy” rating by Deutsche Bank on Friday, June 17. On Wednesday, August 5 the stock rating was downgraded by Zacks to “Hold”.

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 improved, 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.
Checchi Cap Advisers Lc, a California-based fund reported 4,053 shares. Cowen Group holds 0.15% of its portfolio in MGM Resorts International (NYSE:MGM) for 96,881 shares. Elk Creek Prtnrs Ltd holds 16,910 shares or 0% of its portfolio. Bamco Ny has 0.42% invested in the company for 3.49M shares. Envestnet Asset Mngmt has 44,411 shares for 0% of their US portfolio. Vantage Invest Advsrs Limited Com accumulated 2,000 shares or 0.02% of the stock. Gamco Invsts Et Al has 99,850 shares for 0.01% of their US portfolio. Morgan Stanley holds 1.92 million shares or 0.02% of its portfolio. Financial Architects Inc accumulated 339 shares or 0% of the stock. And Buildings Invest Limited Liability Corp holds 16.06% or 1.31M shares in its portfolio. Ameriprise reported 209,478 shares or 0% of all its holdings. Gsa Cap Prns Llp, a United Kingdom-based fund reported 36,332 shares. Springbok Capital Limited Liability Corporation accumulated 0.04% or 13,630 shares. Aqr Capital Limited Co holds 905,413 shares or 0.04% of its portfolio. Systematic Fincl L P last reported 1.08% of its portfolio in the stock.

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 sold $735,510 worth of stock or 32,894 shares. TAYLOR DANIEL J had sold 12,631 shares worth $278,640. McManus John also sold $302,136 worth of MGM Resorts International (NYSE:MGM) shares. On Wednesday, June 1 the insider Mckinney-James Rose sold $68,783. Another trade for 30,354 shares valued at $652,915 was made by HORNBUCKLE WILLIAM on Friday, May 20. GAY MARY CHRISTINE had sold 5,300 shares worth $126,617 on Tuesday, June 14. Another trade for 4.00 million shares valued at $400000.00B was made by TRACINDA CORP on Thursday, September 1.

MGM Resorts International is a holding company. The company has a market cap of $14.55 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 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 published the news titled: “MGM Resorts International Earns ‘Land-Based Operator of the Year’ and …” on September 30, 2016. Prnewswire.com‘s news article titled: “MGM Resorts International To Present At The UBS & Deutsche Bank Investment …” with publication date: September 16, 2016 was also an interesting one.

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