It Seems MGM Resorts International Will Go Down. Had Bearish Options Activity

 It Seems MGM Resorts International Will Go Down. Had Bearish Options Activity

In today’s session MGM Resorts International (MGM) recorded an unusually high (605) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the March, 2017 put, expecting serious MGM decrease. With 605 contracts traded and 1414 open interest for the Mar, 17 contract, it seems this is a quite bearish bet. The option with symbol: MGM170317P00026000 closed last at: $2.2 or 6.3% up. About 8.76M shares traded hands or 78.41% up from the average. MGM Resorts International (NYSE:MGM) has risen 24.17% since April 5, 2016 and is uptrending. It has outperformed by 22.21% the S&P500.

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. $32 is the highest target while $22 is the lowest. The $28.93 average target is 6.67% above today’s ($27.12) stock price. MGM Resorts has been the topic of 24 analyst reports since August 5, 2015 according to StockzIntelligence Inc. Susquehanna maintained the stock with “Positive” rating in Monday, June 20 report. The rating was upgraded by JP Morgan on Thursday, January 28 to “Overweight”. The firm has “Buy” rating given on Friday, June 17 by Deutsche Bank. Argus Research upgraded MGM Resorts International (NYSE:MGM) on Thursday, October 6 to “Buy” rating. As per Wednesday, August 5, the company rating was maintained by Stifel Nicolaus. As per Tuesday, October 13, the company rating was maintained by JP Morgan. On Monday, August 31 the stock rating was downgraded by Vetr to “Strong-Buy”. The rating was maintained by Stifel Nicolaus with “Buy” on Thursday, June 9. Morgan Stanley initiated MGM Resorts International (NYSE:MGM) on Friday, May 6 with “Overweight” rating. Deutsche Bank maintained it with “Buy” rating and $28 target price in Friday, October 30 report.

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 Q2 2016. 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.
J Goldman & Limited Partnership, a New York-based fund reported 217,510 shares. Moreover, Hap Trading Lc has 0.08% invested in MGM Resorts International (NYSE:MGM) for 63,355 shares. Seven Eight Capital Limited Liability Company has invested 0.29% of its portfolio in MGM Resorts International (NYSE:MGM). Fjarde Ap accumulated 135,001 shares or 0.07% of the stock. Nuveen Asset Mngmt Ltd Liability Com accumulated 543,671 shares or 0.08% of the stock. Credit Suisse Ag, a Switzerland-based fund reported 1.97 million shares. Spot Trading Limited Liability Company last reported 27,293 shares in the company. Moreover, Tudor Invest Corp Et Al has 0.1% invested in MGM Resorts International (NYSE:MGM) for 210,000 shares. Van Eck reported 48,860 shares or 0.01% of all its holdings. Glob X Mngmt Ltd Llc holds 0.01% or 4,551 shares in its portfolio. Everpoint Asset Ltd has 2.04M shares for 0.91% of their US portfolio. Oregon Employees Retirement Fund, a Oregon-based fund reported 24,884 shares. Moreover, Hsbc Hldgs Public Limited Com has 0.01% invested in MGM Resorts International (NYSE:MGM) for 208,501 shares. Great West Life Assurance Can holds 275,815 shares or 0.02% of its portfolio. The New York-based Millennium Mngmt Ltd Liability has invested 0.15% in MGM Resorts International (NYSE:MGM).

Insider Transactions: Since May 10, 2016, the stock had 0 buys, and 9 selling transactions for $400000.00 billion net activity. 5,300 shares were sold by GAY MARY CHRISTINE, worth $126,617 on Tuesday, June 14. Shares for $400000.00B were sold by TRACINDA CORP on Thursday, September 1. HORNBUCKLE WILLIAM had sold 30,354 shares worth $652,915. Shares for $748,827 were sold by SANDERS COREY IAN. 4,116 MGM Resorts International (NYSE:MGM) shares with value of $94,182 were sold by McManus John. The insider Mckinney-James Rose sold $68,783. $58,962 worth of shares were sold by HERMAN ALEXIS on Friday, August 12.

MGM Resorts International is a holding company. The company has a market cap of $15.07 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: Prnewswire.com which released: “MGM Resorts International Reports Third Quarter Financial And Operating Results” on November 07, 2016, also Masslive.com with their article: “MGM Resorts International to announce Q3 results, discuss plans for Japan …” published on November 03, 2016, Reuters.com published: “BRIEF-MGM Resorts International reports third quarter financial and operat…” 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 Nasdaq.com‘s news article titled: “Earnings Reaction History: MGM Resorts International, 40.0% Follow-Through …” with publication date: November 07, 2016.

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