MGM Resorts International (NYSE:MGM) Institutional Investors Sentiment Index Worsens in Q1 2018

August 25, 2018 - By Joseph Norton

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Sentiment for MGM Resorts International (NYSE:MGM)

MGM Resorts International (NYSE:MGM) institutional sentiment decreased to 0.89 in 2018 Q1. Its down -0.06, from 0.95 in 2017Q4. The ratio has dropped, as 178 investment professionals opened new and increased equity positions, while 201 cut down and sold their holdings in MGM Resorts International. The investment professionals in our partner’s database reported: 443.98 million shares, down from 450.52 million shares in 2017Q4. Also, the number of investment professionals holding MGM Resorts International in their top 10 equity positions was flat from 14 to 14 for the same number . Sold All: 54 Reduced: 147 Increased: 121 New Position: 57.

MGM Resorts International, through its wholly owned subsidiaries, owns and/or operates casino resorts in the United States and China. The company has market cap of $15.33 billion. The firm operates through two divisions, Domestic Resorts and MGM China. It has a 8.72 P/E ratio. The Company’s casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.

The stock decreased 0.18% or $0.05 during the last trading session, reaching $28.5. About 4.47M shares traded. MGM Resorts International (NYSE:MGM) has declined 0.47% since August 25, 2017 and is downtrending. It has underperformed by 13.04% the S&P500.

Analysts await MGM Resorts International (NYSE:MGM) to report earnings on November, 14. They expect $0.21 earnings per share, down 36.36 % or $0.12 from last year’s $0.33 per share. MGM’s profit will be $112.96M for 33.93 P/E if the $0.21 EPS becomes a reality. After $0.26 actual earnings per share reported by MGM Resorts International for the previous quarter, Wall Street now forecasts -19.23 % negative EPS growth.

Yost Capital Management L.L.C. holds 31.72% of its portfolio in MGM Resorts International for 1.25 million shares. Nicholas Investment Partners Lp owns 3.27 million shares or 8.19% of their US portfolio. Moreover, Land & Buildings Investment Management Llc has 7.79% invested in the company for 1.14 million shares. The California-based Beach Point Capital Management Lp has invested 7.3% in the stock. Canyon Capital Advisors Llc, a California-based fund reported 19.33 million shares.

Since January 1, 0001, it had 1 buying transaction, and 8 selling transactions for $3.77 million activity.

MGM Resorts International (NYSE:MGM) Ratings Coverage

Ratings analysis reveals 50% of MGM Resorts Intl’s analysts are positive. Out of 10 Wall Street analysts rating MGM Resorts Intl, 5 give it “Buy”, 0 “Sell” rating, while 5 recommend “Hold”. The lowest target is $31 while the high is $4300. The stock’s average target of $36.63 is 28.53% above today’s ($28.5) share price. MGM was included in 15 notes of analysts from March 14, 2018. The company was maintained on Friday, April 27 by Morgan Stanley. Morgan Stanley maintained it with “Overweight” rating and $34 target in Friday, August 3 report. The firm has “Overweight” rating given on Tuesday, March 27 by Morgan Stanley. Morgan Stanley maintained it with “Overweight” rating and $38 target in Friday, July 20 report. On Tuesday, June 26 the stock rating was maintained by Morgan Stanley with “Overweight”. Jefferies maintained the shares of MGM in report on Monday, May 7 with “Buy” rating. As per Monday, June 25, the company rating was downgraded by Goldman Sachs. The company was upgraded on Monday, April 23 by Susquehanna. The firm earned “Buy” rating on Monday, July 9 by Nomura. The company was maintained on Monday, August 6 by Barclays Capital.

More notable recent MGM Resorts International (NYSE:MGM) news were published by: Fool.com which released: “MGM Resorts Sees NBA Partnership as a Path to Sports Betting Dominance” on August 04, 2018, also Seekingalpha.com with their article: “Doors open at MGM Springfield casino” published on August 24, 2018, Seekingalpha.com published: “Bye, Bye Bookie – MGM Resorts International” on July 31, 2018. More interesting news about MGM Resorts International (NYSE:MGM) were released by: Benzinga.com and their article: “NBA, MGM Resorts Announce Breakthrough Sports Betting Partnership” published on July 31, 2018 as well as Seekingalpha.com‘s news article titled: “Union Gaming maintains Buy rating on MGM Resorts” with publication date: August 07, 2018.

MGM Resorts International (NYSE:MGM) Institutional Positions Chart

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