Large Outflow of Money Witnessed in MGM Resorts International

MGM Resorts International (MGM) managed to eke out gains of 0.03% in intraday trade. The share price increased by 0.01 points to $28.81. Till last observation, the net money flow was recorded at a negative $(-10.12) million. The total inflow of $2.89 million in upticks was completely overshadowed by an outflow of $13.01 million in downticks, giving the up/down ratio a value of 0.22. The shares have seen a change of -3.29% in the past week.A block trade occurred in the company shares in which the composite value of the upticks was $0.58 million and the composite value in downticks was $9.99 million. The resultant up/down ratio for the block exchange was 0.06. The block trade had a negative money flow of $(-9.42) million.Block trades are executed by Investment Banking firms or Wealth Managers shifting positions or Day traders taking advantage of trading signals.

MGM Resorts International has lost 3.51% in the last five trading days and dropped 0.94% in the last 4 weeks. MGM Resorts International is up 9.13% in the last 3-month period. Year-to-Date the stock performance stands at -0.94%. MGM Resorts International (NYSE:MGM) witnessed a decline in the market cap on Wednesday as its shares dropped 0.83% or 0.24 points. After the session commenced at $28.76, the stock reached the higher end at $28.89 while it hit a low of $28.38. With the volume soaring to 6,986,942 shares, the last trade was called at $28.56. The company has a 52-week high of $30.62. The company has a market cap of $16,375 million and there are 573,366,720 shares in outstanding. The 52-week low of the share price is $16.18.

Company has reported several Insider transactions to the SEC, on Dec 14, 2016, Daniel Darrigo (EXECUTIVE VICE PRESIDENT & CFO) sold 32,618 shares at 30.07 per share price.On Nov 30, 2016, William Hornbuckle (PRESIDENT) sold 46,772 shares at 29.00 per share price.On Nov 30, 2016, Phyllis James (EVP SPECIAL COUNSEL-LITIGATION) sold 5,734 shares at 28.93 per share price.

MGM Resorts International Last issued its quarterly earnings results on Nov 7, 2016. The company reported $0.58 EPS for the quarter, beating the analyst consensus estimate by $ 0.40. Analyst had a consensus of $0.18. The company had revenue of $2515.00 million for the quarter, compared to analysts expectations of $2387.16 million. The companys revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.15 EPS.

Several Stock Research Financial Advisors from Investment Banking firms have advised their client and investors on the stock.MGM Resorts International was Reiterated by Telsey Advisory Group on Jan 17, 2017 to Outperform, Lowers Price Target to $ 33 from a previous price target of $34 .MGM Resorts International was Initiated by Goldman to Buy on Dec 16, 2016. Company shares were Reiterated by Telsey Advisory Group on Dec 9, 2016 to Outperform, Raises Price Target to $ 34 from a previous price target of $33 .Company shares were Reiterated by Telsey Advisory Group on Nov 8, 2016 to Outperform, Raises Price Target to $ 33 from a previous price target of $29 .

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 Company?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.


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