Stock Buzzer: MGM Resorts International Stock Price Hits 52-Week High Today

Stock Buzzer: MGM Resorts International Stock Price Hits 52 Week High Today

The stock of MGM Resorts International (NYSE:MGM) hit a new 52-week high and has $33.51 target or 23.00% above today’s $27.24 share price. The 7 months bullish chart indicates low risk for the $15.14 billion company. The 1-year high was reported on Nov, 7 by If the $33.51 price target is reached, the company will be worth $3.48 billion more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 5.02M shares traded hands or 2.24% 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 6.20% above today’s ($27.24) stock price. MGM Resorts has been the topic of 24 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Buckingham Research given on Thursday, August 11. The stock has “Buy” rating given by Deutsche Bank on Friday, October 30. On Wednesday, August 5 the stock rating was maintained by Stifel Nicolaus with “Buy”. Argus Research upgraded MGM Resorts International (NYSE:MGM) on Thursday, October 6 to “Buy” rating. The rating was maintained by Deutsche Bank on Friday, June 17 with “Buy”. The stock has “Buy” rating given by Stifel Nicolaus on Thursday, June 9. JP Morgan upgraded MGM Resorts International (NYSE:MGM) on Thursday, January 28 to “Overweight” rating. The stock of MGM Resorts International (NYSE:MGM) earned “Buy” rating by UBS on Monday, November 2. Telsey Advisory Group maintained MGM Resorts International (NYSE:MGM) on Friday, May 6 with “Outperform” rating. JP Morgan maintained it with “Overweight” rating and $28 target price in Tuesday, October 13 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 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.
Oakbrook Investments Lc owns 9,350 shares or 0.01% of their US portfolio. The Alabama-based Croft has invested 1.54% in MGM Resorts International (NYSE:MGM). Point72 Asset Management Ltd Partnership holds 1.38M shares or 0.21% of its portfolio. Nomura Holding has invested 0% of its portfolio in MGM Resorts International (NYSE:MGM). Blackrock last reported 228,834 shares in the company. Moreover, Citadel Advsrs Lc has 0.02% invested in MGM Resorts International (NYSE:MGM) for 820,591 shares. Andra Ap accumulated 80,000 shares or 0.05% of the stock. Aperio Grp Ltd Com has 0.02% invested in the company for 105,947 shares. Zurcher Kantonalbank (Zurich Cantonalbank) holds 0.01% of its portfolio in MGM Resorts International (NYSE:MGM) for 36,696 shares. Harris Assoc Limited Partnership last reported 999,100 shares in the company. Paloma Prtnrs Com owns 191,190 shares or 0.05% of their US portfolio. Van Eck Assoc Corporation has invested 0.01% of its portfolio in MGM Resorts International (NYSE:MGM). Frontier Management Llc last reported 856,872 shares in the company. Hbk Limited Partnership holds 0.06% of its portfolio in MGM Resorts International (NYSE:MGM) for 349,204 shares. Consolidated Investment Grp Limited Liability Company accumulated 179,073 shares or 2.05% of the stock.

Insider Transactions: Since May 10, 2016, the stock had 0 insider purchases, and 9 selling transactions for $400000.00 billion net activity. Shares for $278,640 were sold by TAYLOR DANIEL J. McManus John had sold 4,116 shares worth $94,182 on Wednesday, May 25. The insider SANDERS COREY IAN sold 32,894 shares worth $735,510. 5,300 MGM Resorts International (NYSE:MGM) shares with value of $126,617 were sold by GAY MARY CHRISTINE. $652,915 worth of shares were sold by HORNBUCKLE WILLIAM on Friday, May 20. $58,962 worth of MGM Resorts International (NYSE:MGM) was sold by HERMAN ALEXIS on Friday, August 12. $400000.00B worth of shares were sold by TRACINDA CORP on Thursday, September 1.

More notable recent MGM Resorts International (NYSE:MGM) news were published by: which released: “MGM Resorts International Reports Third Quarter Financial And Operating Results” on November 07, 2016, also with their article: “MGM Resorts International to announce Q3 results, discuss plans for Japan …” published on November 03, 2016, 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: and their article: “With MGM Springfield casino construction ongoing, MGM Resorts International …” published on November 07, 2016 as well as‘s news article titled: “MGM Resorts ready to bet up to $10 billion on Japan casino, possibly via R…” with publication date: October 31, 2016.

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.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

Tags: , ,

Related posts

Leave a Comment