Published: Sun, September 17, 2017
Business | By Max Garcia

MGM Resorts International (NYSE:MGM) Trading Down - Insiders Selling, Short Interest Growing

MGM Resorts International (NYSE:MGM) Trading Down - Insiders Selling, Short Interest Growing

Davidson Kempner Capital Management Lp bought 900,000 shares as the company's stock rose 17.48% with the market. The company's quarterly EPS surprised Wall Street by as much as 3% to the upside in its last earnings announcement, so investors should note this tendency when assessing consensus estimates. The firm has a market cap of $18.36 billion, a price-to-earnings ratio of 18.90 and a beta of 1.48. The stock declined 1.84% or $0.6 reaching $31.99 per share. About 54,061 shares traded.

MGM Resorts International (NYSE:MGM) is on our radar right now but there could still be some opportunities on the horizon. The MGM National Harbor transaction is expected to close in the fourth quarter of 2017. Institutional investors and hedge funds own 71.92% of the company's stock. Currently, 218.19 million total shares are owned by the public and among those 198.66 million shares have been available to trade. The Company owns a fleet of (i) 13 Panamaxdrybulk vessels; (ii) 4 Newcastlemaxdrybulk vessels; (iii) 5 Kamsarmaxdrybulk vessels; (iv) 1 Very Large Crude Carrier; (v) 2 Aframax tankers; (vi) 1 Suezmax tanker; (vii) 4 Very Large Gas Carriers, 2 of which are expected to be delivered in October and December of 2017; and (viii) 6 offshore support vessels, comprising 2 platform supply and 4 oil spill recovery vessels. Hornbuckle now owns $0 of the stock according to the SEC filing. 401.91 million shares or 0.07% more from 401.64 million shares in 2016Q3 were reported. Citigroup Inc (NYSE:C) has risen 35.60% since September 14, 2016 and is uptrending. It has outperformed by 34.73% the S&P500.

During the recent trading sessions stock of MGM Resorts International (NYSE:MGM) was gathering the crowd in the stock market. Toronto Dominion Bank boosted its stake in shares of MGM Resorts International by 28.0% in the 1st quarter.

COPYRIGHT VIOLATION NOTICE: "Eagle Asset Management Inc".

Bridger Management Llc increased Post Hldgs Inc (NYSE:POST) stake by 59,481 shares to 1.07 million valued at $86.18M in 2016Q4.

Additionally, here are a few investment firms who have increased or decreased their stake in (MGM). Its down 0.22, from 1.23 in 2016Q3. 93 funds opened positions while 121 raised stakes. If the $28.62 price target is reached, the company will be worth $50.05 million more. Sei Investments holds 363,147 shares or 0.11% of its portfolio. Bluemountain Cap Mngmt Lc holds 0.03% in MGM Resorts International (NYSE:MGM) or 61,062 shares. Stifel Nicolaus maintained MGM Resorts International (NYSE:MGM) on Thursday, June 9 with "Buy" rating. Pacad Investment Ltd. purchased a new position in shares of MGM Resorts International in the 2nd quarter worth $169,000. Marshall Wace Llp holds 0.13% or 677,467 shares. The shares were sold at an average price of $31.54, for a total transaction of $1,806,264.26. Axa owns 299,000 shares. Capital Research Global Investors grew its holdings in shares of MGM Resorts International by 1.9% during the 2nd quarter. Primecap Management Company Ca reported 703,600 shares. Gam Ag reported 27,026 shares. Dimensional Fund Advsr Lp holds 1.20M shares or 0.08% of its portfolio. Employees Retirement System Of Texas holds 0.08% or 210,000 shares. Highland Capital Mgmt Ltd Partnership holds 0.7% in MGM Resorts International (NYSE:MGM) or 517,785 shares. 725,000 were accumulated by Caxton Assoc L P. Livforsakringsbolaget Skandia Omsesidigt owns 18,707 shares. Therefore 85% are positive.

MGM has been the subject of several recent analyst reports.

MGM Resorts International (MGM) formed multiple top with $34.30 target or 7.00% above today's $32.06 share price. The firm has "Buy" rating by Stifel Nicolaus given on Tuesday, November 8. Deutsche Bank has "Buy" rating and $3400 target.

MGM is now undervalued by -14.73% relative to the average 1-year price target of $37.60 taken from a group of Wall Street Analysts. As per Wednesday, August 5, the company rating was downgraded by Zacks. The stock has "Outperform" rating by Telsey Advisory Group on Tuesday, November 8. The firm earned "Outperform" rating on Friday, December 9 by Telsey Advisory Group. Amp Capital Invsts Limited holds 0.05% of its portfolio in MGM Resorts International (NYSE:MGM) for 304,043 shares. Shares for $615,686 were sold by SANDERS COREY IAN. 11,913 shares were sold by Mandekic Anthony Leo, worth $370,375 on Monday, May 1. It will be made pursuant to the terms of the company's recently reported $1.0 billion stock buyback program, of which $672.5 million will remain following the transaction. The ex-dividend date of this dividend is Wednesday, March 8th.

Among 33 analysts covering Citigroup Inc. "This transaction remains consistent with our stated long-term strategy of utilizing our cash to maximize value for our shareholders while maintaining a strong financial position", Jim Murren, Chairman and CEO of MGM Resorts said. Therefore 100% are positive. The company was maintained on Tuesday, June 14 by UBS. The balance sheet health of any company plays a key role in its ability to meet its obligations and maintain the faith of its investment base. CLSA maintained it with "Buy" rating and $63 target in Friday, September 23 report. Likewise, the upbeat performance for the last quarter was 2.06% and for the full year it was 30.58%. The rating was maintained by Nomura with "Buy" on Wednesday, October 5.

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