Zacks Investment Research Upgrades MGM Resorts International (MGM) to Buy

Zacks Investment Research Upgrades MGM Resorts International (MGM) to Buy

Troy Powers
April 27, 2018

Cibc Asset Management, a Ontario - Canada-based fund reported 50,210 shares. Denali Advisors Llc who had been investing in Moody's Corp. for a number of months, seems to be less bullish one the $31.06B market cap company.

The recent session unveiled a 24.34% higher lead over its 52-week stock price low and showed lower move of -7.52% over its 52-week high stock price. The stock was purchased at an average price of $35.50 per share, for a total transaction of $35,500.00. MGM Resorts International (NYSE:MGM) has risen 31.15% since April 26, 2017 and is uptrending. It has outperformed by 57.08% the S&P500.

Cwm Llc decreased its stake in Chevron Corp New (CVX) by 92.18% based on its latest 2017Q4 regulatory filing with the SEC.

In related news, Director William A. Bible sold 5,906 shares of the stock in a transaction that occurred on Monday, May 1st. Liberty Mutual Group Inc Asset Mngmt reported 20,632 shares. 9,800 were reported by Crestpoint Cap Management Ltd Liability. The stock price volatility for last week at the close of regular trading was 3.66%, pushing the figure for the whole month to now reaching 4.61%. About 8.37M shares traded. This is an increase from MGM Resorts International's previous quarterly dividend of $0.11. The stock outperformed the S&P 500 by 19.60%.

Big Money Sentiment decreased to 0.95 in Q4 2017. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.73 and a current ratio of 0.77. The shares of MGM Resorts International (NYSE:MGM), has jumped by 5.81% year to date as of 04/25/2018.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Zacks Investment Research lowered shares of MGM Resorts International from a "buy" rating to a "hold" rating in a report on Friday, February 23rd. Moreover, Clenar Muke Llc has 0.12% invested in the company for 22,265 shares. On Thursday, February 15 Susquehanna maintained the shares of MGM in report with "Hold" rating. Ironwood Financial Llc accumulated 14 shs. Point72 Asia (Hong Kong) stated it has 1,641 shares. Trade volumes fell to 7.43 million shares compared with 90-day average tally of 8.62 million shares per day.

Wednesday seemed like a lighter volume day for MGM Resorts International (NYSE:MGM), but it might not be harder to recover from. Quantitative Inv Ltd owns 324,800 shares for 0.16% of their portfolio.

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The fate of Wynn's glitzy Boston-area casino may still be up in the air, but rival MGM says it is on track to open the first Las Vegas-style casino resort in MA sooner than expected. Palisades Hudson Asset Mgmt Lp reported 6,450 shares. Chevy Chase Trust Hldgs Inc holds 0.06% or 443,029 shares. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters' consensus estimate of $0.26 by $0.12. Price Capital Mgmt Inc stated it has 2,400 shares or 0.03% of all its holdings.

Fir Tree Inc, which manages about $18.45 billion and $3.71B US Long portfolio, decreased its stake in Equinix Inc (NASDAQ:EQIX) by 27,810 shares to 357,836 shares, valued at $162.18M in 2017Q4, according to the filing.

Bernard Selz increased its stake in Mgm Resorts International (MGM) by 42.81% based on its latest 2017Q4 regulatory filing with the SEC. Therefore 78% are positive. Time Warner Inc. had 126 analyst reports since August 6, 2015 according to SRatingsIntel.

MGM Resorts International is a holding company. On Monday, April 23 the firm has "Positive" rating given by Susquehanna. Telsey Advisory Group has "Outperform" rating and $39 target. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Argus Research upgraded the stock to "Buy" rating in Thursday, October 6 report. In Friday, February 23 report Barclays Capital maintained the stock with "Overweight" rating. The firm earned "Buy" rating on Tuesday, March 6 by Citigroup. The rating was maintained by Goldman Sachs on Wednesday, April 5 with "Buy". Looking at its rival pricing, MGM is at a -12.44% relative to its price target of 40.35. Stifel Nicolaus has "Buy" rating and $38 target.

Since February 22, 2018, it had 1 insider buy, and 6 sales for $5.07 million activity. $159,351 worth of MGM Resorts International (NYSE:MGM) shs were sold by HERMAN ALEXIS.

Hornbuckle declined to address reports that the company has been quietly negotiating with Wynn Resorts to take over its more than $2.5 billion project on the Everett waterfront, which is slated to open sometime next year. 36,366 shares were sold by D'ARRIGO DANIEL, worth $1.26M. 23,134 shares valued at $848,588 were sold by SANDERS COREY IAN on Monday, March 12. 12,536 shares valued at $434,632 were sold by TAYLOR DANIEL J on Thursday, February 22. Cerebellum GP LLC bought a new position in shares of MGM Resorts International during the 4th quarter valued at about $126,000.

Despite the negativity surrounding MGM, at least one analyst thinks the run of bad luck isn't permanent. During the same quarter in the prior year, the firm posted $0.11 EPS. Deutsche Fincl Bank Ag reported 1.13M shares. After $1.51 actual earnings per share reported by Moody's Corporation for the previous quarter, Wall Street now forecasts 18.54% EPS growth. Its up 0.34, from 1.01 in 2017Q3. 84 funds opened positions while 172 raised stakes. The count of Hold ratings in that period was 0. Sirios Cap Limited Partnership holds 294,045 shares or 1.33% of its portfolio. Westwood Il has 0.07% invested in Chevron Corporation (NYSE:CVX). Banc Funds Co Llc owns 632,047 shares or 0.29% of their United States portfolio. Pnc Grp Inc Inc has 167,727 shs for 0.01% of their capital.