Just the Facts on MGM Resorts International (MGM)

Lloyd Doyle
November 15, 2017

Ironsides Asset Advisors LLC lowered its position in shares of MGM Resorts International (NYSE:MGM) by 0.5% during the second quarter, Holdings Channel reports. The stock decreased 0.03% or $0.01 on November 13, reaching $33.06.

A number of other hedge funds have also added to or reduced their stakes in the business.

Td Asset Management Inc isn't the only one who has changed their investment in MGM. Community Bank Of Raymore bought 254,243 shares as the company's stock declined 7.64% while stock markets rallied. Toronto Dominion Bank lifted its holdings in shares of MGM Resorts International by 12.4% in the 2nd quarter. Concourse Capital Management, LLC now holds 294,434 shares worth $9,596,000. Zacks Investment Research raised shares of MGM Resorts International from a "sell" rating to a "hold" rating in a research note on Friday. Canyon Capital Advisors LLC now owns 19,402,345 shares of the company's stock worth $607,099,000 after purchasing an additional 1,583,585 shares during the period. The value of the position overall is up by 1,349.6%. Ltd. now owns 6,894 shares of the company's stock worth $156,000 after buying an additional 4,095 shares during the last quarter. Colony Group LLC bought a new stake in shares of MGM Resorts International in the 2nd quarter worth about $203,000.

Investors are feeling more bearish recently as implied by the increase in short interest. MGM Resorts International has a 1-year low of $16.18 and a 1-year high of $27.04. The current price change puts the market capitalization at $18.94 bln. Its down 0.22, from 1.23 in 2017Q1. Investors of record on Monday, December 11th will be given a $0.11 dividend. The ex-dividend date of this dividend is Friday, December 8th. Scotia Cap Inc reported 56,367 shares or 0.03% of all its holdings.

Analysts await MGM Resorts International (NYSE:MGM) to report earnings on February, 15.


MGM Resorts International announced that its Board of Directors has approved a share buyback program on Tuesday, September 5th that permits the company to repurchase $1.00 billion in shares.

Waterfront Capital Partners Llc decreased Mgm Resorts International (MGM) stake by 58% reported in 2017Q2 SEC filing. The stock was sold at an average price of $33.83, for a total value of $104,771.51. Following the sale, the executive vice president now directly owns 40,744 shares in the company, valued at approximately $1,373,072.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The stock is performing 14.67% year to date. The shares were sold at an average price of $33.70, for a total transaction of $177,700.10. Institutional investors and hedge funds own 76.63% of the company's stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 698,548 shares of company stock valued at $23,770,532. The Company, through its subsidiaries, owns and operates casino resorts.

ILLEGAL ACTIVITY WARNING: "Capital Management Associates NY Lowers Holdings in MGM Resorts International (MGM)" was first published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this news story on another website, it was copied illegally and republished in violation of USA & global copyright and trademark laws. MCBC Holdings had 16 analyst reports since August 7, 2015 according to SRatingsIntel. Stifel Nicolaus reissued a "buy" rating on shares of MGM Resorts International in a report on Friday, September 1st.

MGM has been the subject of a number of research analyst reports. The stock of MGM Resorts International (NYSE:MGM) has "Buy" rating given on Friday, June 17 by Deutsche Bank. The firm has "Hold" rating by Stifel Nicolaus given on Wednesday, October 18.

The company's stock is now moving with a +ve distance from the 200 day SMA of approximately 8.41%, and has a solid year to date (YTD) performance of 14.67% which means that the stock is constantly adding to its value from the previous fiscal year end price. (OMC). The consensus rating is 2.9, suggesting the market has given up on the stock. Roth Capital maintained the shares of MGM in report on Thursday, November 9 with "Buy" rating. For MGM, the company now has $1.99 Billion of cash on the books, which is offset by $466.38 Million current liabilities. Its MGM China?s operations consist of the MGM Macau resort and casino (MGM Macau), and the development of an integrated casino, hotel and entertainment resort on the Cotai Strip in Macau (MGM Cotai). It operates in two segments: wholly owned domestic resorts and MGM China.

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