Markets

MGM Resorts International (MGM) Shares Sold by Oppenheimer Asset Management Inc

MGM Resorts International (MGM) Shares Sold by Oppenheimer Asset Management Inc

The stock last traded at $32.06 just a bit lower than $32.07, the stock's 50 day moving average and slightly over the 200 day moving average of $30.56. About shares traded. MGM Resorts International (NYSE:MGM) has risen 45.28% since September 15, 2016 and is uptrending. It has outperformed by 28.58% the S&P500.

Nicholas Investment Partners Lp decreased its stake in Mgm Resorts International (MGM) by 69.74% based on its latest 2016Q4 regulatory filing with the SEC. Cs Mckee Lp sold 12,525 shares as Monsanto Co (MON)'s stock rose 6.51%. The company's stock had a trading volume of 13,413,613 shares. About 349,960 shares traded. It has underperformed by 16.70% the S&P500.

Sell-side analyst recommendations point to a short term price target of $38.1 on the shares of MGM Resorts International (MGM). Therefore 85% are positive.

MGM Resorts International announced that its Board of Directors has authorized a share buyback program on Tuesday, September 5th that allows the company to buyback $1.00 billion in outstanding shares. The company was initiated on Monday, October 12 by Bank of America. The firm has "Positive" rating given on Friday, April 21 by Susquehanna. Telsey Advisory Group maintained MGM Resorts International (NYSE:MGM) rating on Friday, May 6. MGM Resorts has $39 highest and $22 lowest target. As per Wednesday, August 5, the company rating was maintained by Stifel Nicolaus.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Thursday, July 27th. The company was maintained on Tuesday, January 17 by Telsey Advisory Group. MGM Resorts International had a net margin of 9.26% and a return on equity of 7.97%.

On a similar note, analysts expect EPS of $0.34 in September 2017 quarter and $0.17 in December 2017 quarter, representing -41.38% and 54.55% growth, respectively. If the $28.62 price target is reached, the company will be worth $50.05 million more. After $0.31 actual EPS reported by MGM Resorts International for the previous quarter, Wall Street now forecasts 9.68% EPS growth.

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Investors sentiment decreased to 1.01 in Q4 2016. This represents a $0.44 annualized dividend and a dividend yield of 1.38%. It fall, as 31 investors sold MGM Resorts International shares while 121 reduced holdings. 93 funds opened positions while 121 raised stakes. Hornbuckle now owns $0 of the stock according to the SEC filing. Meiji Yasuda Asset Mngmt Co has invested 0.06% in MGM Resorts International (NYSE:MGM). It also upped Gilead Sciences Inc (NASDAQ:GILD) stake by 371,969 shares and now owns 711,420 shares. Vanguard reported 36.75M shares. Bnp Paribas Arbitrage Sa stated it has 34,025 shares or 0% of all its holdings.

On 09/14/2017 close, Rice Energy Inc. 10,000 were reported by Polaris Greystone Fincl Grp Llc. Svcs Corporation has invested 0% in MGM Resorts International (NYSE:MGM). Tower Capital Limited Company (Trc) holds 0% or 403 shares in its portfolio. The Texas-based Highland Management LP has invested 0.7% in MGM Resorts International (NYSE:MGM). Wellington Mgmt Group Inc Ltd Liability Partnership accumulated 822,980 shares. Finemark Bancshares Trust holds 0.01% or 4,116 shares in its portfolio. Wall Street Assoc has invested 0.24% in MGM Resorts International (NYSE:MGM).

Several institutional investors have recently bought and sold shares of the company. Shares repurchase plans are generally a sign that the company's management believes its shares are undervalued.

Since March 14, 2017, it had 0 insider buys, and 9 selling transactions for $3.33 million activity. Shares for $317,052 were sold by SELWOOD ROBERT.

At the same time the sale of National Harbor's real estate was announced, MGM Resorts also launched a $1 billion share buyback program. $105,568 worth of stock was sold by GAY MARY CHRISTINE on Tuesday, March 14. Shares for $369,247 were sold by TAYLOR DANIEL J. SANDERS COREY IAN sold $677,570 worth of MGM Resorts International (NYSE:MGM) on Monday, May 15. On Friday, May 19 the insider McManus John sold $312,773. The hedge fund run by Thomas Lenox Kempner held 1.30M shares of the hotels and resorts company at the end of 2016Q4, valued at $37.48 million, up from 400,000 at the end of the previous reported quarter. On August 1 the stock rating was downgraded from "Buy" to "Neutral" by analysts at UBS. Therefore 100% are positive. Monsanto Company had 53 analyst reports since August 25, 2015 according to SRatingsIntel. Shareholders of record on Friday, March 10th will be given a $0.11 dividend. Argus Research upgraded the shares of MGM in report on Thursday, October 6 to "Buy" rating. On Monday, March 14 the stock rating was maintained by Barclays Capital with "Overweight". Moreover the Company's Year To Date performance was 13.60%. Deutsche Bank AG reiterated a "buy" rating and set a $34.00 price objective on shares of MGM Resorts International in a research note on Monday, July 3rd. On Wednesday, August 2 the stock rating was maintained by Needham with "Buy". Telsey Advisory Group maintained the shares of MGM in report on Friday, December 9 with "Outperform" rating.

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