MGM Resorts International (MGM): Price Target and June Short Interest Disclosure

MGM Resorts International (MGM) : The consensus price target for MGM Resorts International (MGM) is $29.3 for the short term with a standard deviation of $1.25. The most optimist securities analyst among the 10 who monitor the stock believes that the stock can reach $31, however, the pessimist price target for the company is $27.

MGM Resorts International (MGM) has shown a drop of 20.4% or 3,653,869 shares in the short positions. The bets have increased to 14,231,723 shares on June 30,2016 from 17,885,592 shares on June 15,2016. With respect to the floated shares, the shorts are 3%. The days to cover are calculated to be 2, using the standard per day volume of 8,317,348 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.

Also, In a research note released to the investors, UBS maintains its rating on MGM Resorts International (NYSE:MGM).The analysts at the brokerage house have a current rating of Buy on the shares. In a recent information released to the investors, UBS lowers the price target of $29 per share. The rating by the firm was issued on June 20, 2016.


MGM Resorts International (NYSE:MGM): stock turned positive on Thursday. Though the stock opened at $23.45, the bulls momentum made the stock top out at $23.545 level for the day. The stock recorded a low of $23.17 and closed the trading day at $23.29, in the green by 0.69%. The total traded volume for the day was 4,604,117. The stock had closed at $23.13 in the previous days trading.

MGM Resorts International is a holding company. Through its wholly owned subsidiaries, the Company owns and operates casino resorts. The Company operates in two segments: wholly owned domestic resorts and MGM China. The wholly owned domestic resorts segment includes non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities. Its casino operations feature a variety of table games, and race and sports book wagering. It operates over 15 wholly owned resorts in the United States. The MGM China segments operations consist of the MGM Macau resort and casino (MGM Macau) and the development of a gaming resort in Cotai, Macau. It owns and operates two resorts in Mississippi, which includes Beau Rivage in Biloxi and Gold Strike Tunica. It also owns Shadow Creek, Primm Valley Golf Club at the California/Nevada state line and Fallen Oak golf course in Saucier, Mississippi.

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