Major Move Is Coming For MGM Resorts International After Bullish Options Activity

 Major Move Is Coming For MGM Resorts International After Bullish Options Activity

In today’s session MGM Resorts International (MGM) registered an unusually high (739) 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 739 contracts traded and 7614 open interest for the Dec, 16 contract, it seems this is a quite bullish bet. The option with symbol: MGM161216C00029000 closed last at: $0.49 or 19.7% down. About 5.07 million shares traded hands. MGM Resorts International (NYSE:MGM) has risen 31.76% since April 25, 2016 and is uptrending. It has outperformed by 25.74% the S&P500.

Analysts await MGM Resorts International (NYSE:MGM) to report earnings on February, 16. They expect $0.14 EPS, up 1,500.00% or $0.15 from last year’s $-0.01 per share. MGM’s profit will be $80.82M for 51.29 P/E if the $0.14 EPS becomes a reality. After $0.58 actual EPS reported by MGM Resorts International for the previous quarter, Wall Street now forecasts -75.86% 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 26 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The rating was initiated by Buckingham Research on Thursday, August 11 with “Buy”. The stock of MGM Resorts International (NYSE:MGM) earned “Strong-Buy” rating by Vetr on Monday, August 31. The rating was maintained by Stifel Nicolaus on Tuesday, November 8 with “Buy”. The firm earned “Buy” rating on Thursday, June 9 by Stifel Nicolaus. The stock of MGM Resorts International (NYSE:MGM) has “Buy” rating given on Wednesday, August 5 by Stifel Nicolaus. The rating was upgraded by JP Morgan to “Overweight” on Thursday, January 28. Telsey Advisory Group maintained MGM Resorts International (NYSE:MGM) rating on Friday, May 6. Telsey Advisory Group has “Outperform” rating and $27 price target. As per Wednesday, April 13, the company rating was maintained by Citigroup. The stock of MGM Resorts International (NYSE:MGM) has “Outperform” rating given on Tuesday, November 8 by Telsey Advisory Group. The stock of MGM Resorts International (NYSE:MGM) earned “Buy” rating by UBS on Monday, November 2.

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 decreased to 0.98 in Q2 2016. Its down 0.42, from 1.4 in 2016Q1. The ratio turned negative, 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.
Great West Life Assurance Com Can last reported 0.02% of its portfolio in the stock. Magnetar Financial Limited Com holds 9,036 shares or 0% of its portfolio. Tocqueville Asset Mgmt L P accumulated 768,572 shares or 0.22% of the stock. Piershale Group has 500 shares for 0.01% of their US portfolio. The California-based Blackrock Fund Advisors has invested 0.02% in MGM Resorts International (NYSE:MGM). The New York-based Alliancebernstein Limited Partnership has invested 0.01% in MGM Resorts International (NYSE:MGM). State Of Wisconsin Inv Board has 315,368 shares for 0.03% of their US portfolio. Bridger Mngmt Lc holds 3.96M shares or 5.79% of its portfolio. Apg Asset Management Nv accumulated 1.08 million shares or 0.05% of the stock. Cibc Asset Mgmt last reported 0% of its portfolio in the stock. America First Invest Advsr Ltd Liability last reported 144 shares in the company. Lord Abbett And Ltd Llc has invested 0.12% of its portfolio in MGM Resorts International (NYSE:MGM). Diam last reported 0.01% of its portfolio in the stock. Shell Asset Mgmt Com owns 32,985 shares or 0.02% of their US portfolio. Tiger Mngmt Limited has 0.5% invested in the company for 68,000 shares.

Insider Transactions: Since June 1, 2016, the stock had 0 insider buys, and 8 insider sales for $400000.00 billion net activity. 12,363 shares were sold by McManus John, worth $302,136. TRACINDA CORP also sold $400000.00 billion worth of MGM Resorts International (NYSE:MGM) shares. Another trade for 12,961 shares valued at $364,593 was sold by SELWOOD ROBERT. Another trade for 2,948 shares valued at $68,783 was made by Mckinney-James Rose on Wednesday, June 1. $2.53M worth of MGM Resorts International (NYSE:MGM) shares were sold by MURREN JAMES. Shares for $58,962 were sold by HERMAN ALEXIS. On Tuesday, June 14 GAY MARY CHRISTINE sold $126,617 worth of the stock or 5,300 shares.

MGM Resorts International is a holding company. The company has a market cap of $16.58 billion. The Firm owns and operates casino resorts. It has a 57.69 P/E ratio. 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: Barrons.com which released: “MGM Resorts International’s Winning Hand” on November 26, 2016, also Prnewswire.com with their article: “Industry Veteran Aaron Fischer Joins MGM Resorts International as Senior Vice …” published on November 14, 2016, Prnewswire.com published: “MGM Resorts International Reports Third Quarter Financial And Operating Results” 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 Masslive.com‘s news article titled: “MGM Resorts International to announce Q3 results, discuss plans for Japan …” with publication date: November 03, 2016.

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