MGM Resorts International (MGM) Expected to Announce Quarterly Sales of $2.51 Billion

Marco Green
December 11, 2017

Over the last 90 days, insiders sold 83,070 shares of company stock valued at $2,591,372. Richard C Young & Company sold 31,192 shares as General Electric Co (GE)'s stock declined 7.64%. (NYSE:MRK) has risen 16.86% since December 10, 2016 and is uptrending. It has underperformed by 7.20% the S&P500.

ILLEGAL ACTIVITY NOTICE: "Sean Charland Acquires 25,000 Shares of MGM Resorts International (MGM) Stock" was reported by The Lincolnian Online and is the sole property of of The Lincolnian Online.

The stock of MGM Resorts International (MGM) shows a multiple tops pattern with $34.18 target or 3.00 % above today's $33.18 share price. The Blackhill Capital Inc holds 157,500 shares with $10.09 million value, up from 5,000 last quarter. MGM Resorts International has a 1-year low of $21.31 and a 1-year high of $32.93. The stock decreased 0.15% or $0.05 during the last trading session, reaching $33.18. About 8.89 million shares traded or 9.62% up from the average. Iridian Asset Management LLC CT purchased a new stake in shares of MGM Resorts International during the 2nd quarter valued at $192,055,000.

Gates Capital Management Inc increased Lamb Weston Hldgs Inc stake by 706,537 shares to 2.43 million valued at $107.22 million in 2017Q2.

Highline Cap Mgmt Limited Partnership reported 2.70 million shares. Davita Inc (NYSE:DVA) was raised too. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 1.26. Capital Management Associates acquired 21,896 shares as Mgm Resorts International (MGM)'s stock rose 17.48%.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. 3,225,425 shares of the company's stock traded hands. Suntrust Banks Inc holds 78,144 shares or 0.01% of its portfolio. Bridgecreek Inv Management Ltd Com invested 0.06% of its portfolio in MGM Resorts International (NYSE:MGM). Sandler Cap Mgmt, a New York-based fund reported 173,775 shares. State Common Retirement Fund holds 0.01% or 443,529 shares. Westpac Banking stated it has 0% of its portfolio in MGM Resorts International (NYSE:MGM).

Investors sentiment decreased to 0.79 in Q2 2017.

Illinois-based Prudential Public Limited has invested 0.07% in MGM Resorts International (NYSE:MGM). Boston Advsrs Limited Liability Co has invested 0.34% in MGM Resorts International (NYSE:MGM). 300 were accumulated by First Manhattan. Mitsubishi Ufj Co Limited owns 540 shares. Raymond James Services Advisors Incorporated reported 70,576 shares. Metropolitan Life Insur Communications Ny invested in 0% or 15,462 shares. Zacks Investment Research upgraded MGM Resorts International from a "sell" rating to a "hold" rating in a research report on Friday, November 10th. They expect $0.07 EPS, down 36.36% or $0.04 from last year's $0.11 per share. MGM's profit will be $39.63M for 118.50 P/E if the $0.07 EPS becomes a reality. After $0.87 actual EPS reported by WestRock Company for the previous quarter, Wall Street now forecasts -12.64% negative EPS growth. Instinet reiterated a "buy" rating and set a $35.00 price objective (up from $34.00) on shares of MGM Resorts International in a report on Saturday, April 29th. Therefore 73% are positive. MGM Resorts had 54 analyst reports since August 5, 2015 according to SRatingsIntel. On Tuesday, July 25 the stock rating was maintained by Morgan Stanley with "Equal-Weight". Telsey Advisory Group maintained it with "Outperform" rating and $29 target in Friday, June 17 report. Deutsche Bank maintained MGM Resorts International (NYSE:MGM) rating on Friday, October 30. The stock presently has an average rating of "Buy" and an average price target of $33.87. The firm earned "Buy" rating on Thursday, June 15 by BMO Capital Markets. Toronto Dominion Bank now owns 5,020 shares of the company's stock valued at $138,000 after buying an additional 1,099 shares during the last quarter. Susquehanna downgraded the shares of MGM in report on Tuesday, October 3 to "Neutral" rating. The firm earned "Hold" rating on Monday, September 11 by Deutsche Bank. The stock of MGM Resorts International (NYSE:MGM) has "Buy" rating given on Thursday, October 6 by Argus Research.

Investors sentiment decreased to 0.71 in Q2 2017. Its down 0.08, from 0.79 in 2017Q1. It increased, as 56 investors sold MRK shares while 612 reduced holdings. 24 funds opened positions while 42 raised stakes.

American Assets Capital Advisers increased Las Vegas Sands Corp (NYSE:LVS) stake by 30,025 shares to 147,689 valued at $9.38 million in 2017Q2. The company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters' consensus estimate of $0.26 by $0.12. Oakworth Cap reported 6,762 shares stake. Btr Management reported 0.08% stake. The Maryland-based Wagner Bowman Mngmt Corp has invested 0.17% in ConocoPhillips (NYSE:COP). Dnb Asset Management As holds 38,838 shares. Winch Advisory Svcs Ltd has 0.26% invested in ConocoPhillips (NYSE:COP) for 9,489 shares. Stock buyback programs are typically a sign that the company's management believes its shares are undervalued. Capital Glob owns 11.55M shares for 0.16% of their portfolio. Heritage Wealth owns 1.14% invested in Merck & Co., Inc. Cibc World Mkts reported 0.08% stake. Everence Capital Mngmt owns 60,304 shares for 0.65% of their portfolio. The stock of MGM Resorts International (NYSE:MGM) earned "Overweight" rating by JP Morgan on Thursday, January 28. Therefore 40% are positive. The rating was initiated by RBC Capital Markets with "Sector Perform" on Wednesday, July 22. Langenberg upgraded the shares of GE in report on Monday, November 13 to "Buy" rating. The stock has "Equal-Weight" rating by Barclays Capital on Tuesday, July 18. The rating was maintained by Stifel Nicolaus with "Hold" on Thursday, November 9. The firm has "Neutral" rating by Guggenheim given on Wednesday, April 19. The rating was maintained by Canaccord Genuity with "Buy" on Monday, October 16.

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