Price Target Update on MGM Resorts International (NYSE:MGM)

MGM Resorts International (NYSE:MGM) stock is expected to deviate a maximum of $1.25 from the average target price of $29.3 for the short term period. 10 Street Experts have initiated coverage on the stock with the most promising target being $31 and the most muted being $27.

Other Equity analysts have also commented on the company shares. Brokerage firm Deutsche Bank maintains its rating on MGM Resorts International (NYSE:MGM). In a research note issued to the investors, the brokerage major maintains price-target of $29 per share.The shares have been rated Buy. The rating by the firm was issued on June 17, 2016.

MGM Resorts International (NYSE:MGM): stock turned positive on Thursday. Though the stock opened at $24.6, the bulls momentum made the stock top out at $24.66 level for the day. The stock recorded a low of $24.43 and closed the trading day at $24.48, in the green by 0.66%. The total traded volume for the day was 5,106,474. The stock had closed at $24.32 in the previous days trading.

The company shares have rallied 30.47% from its 1 Year high price. On Jun 9, 2016, the shares registered one year high at $25.29 and the one year low was seen on Feb 9, 2016. The 50-Day Moving Average price is $23.15 and the 200 Day Moving Average price is recorded at $21.30. On the companys insider trading activities,The director of Mgm Resorts International, Gay Mary Christine sold 5,300 shares at $23.89 on June 14, 2016. The Insider selling transaction had a total value worth of $126,617. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

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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