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.
MGM Resorts International has lost 7.56% in the last five trading days and dropped 3.37% in the last 4 weeks. MGM Resorts International is up 3.24% in the last 3-month period. Year-to-Date the stock performance stands at -0.4%. Also, In the latest statement by the brokerage house, UBS maintains its outlook on MGM Resorts International (NYSE:MGM). The current rating of the shares is Buy, according to the research report released by the firm. The brokerage firm lowers the price target at $29 per share. The rating by the firm was issued on June 20, 2016.
MGM Resorts International (NYSE:MGM) has an average broker rating of 1.25, which is interpreted as a Strong Buy, as rated by 14 equity analysts. Nonetheless, 11 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. 2 other analysts advise a Buy. Nevertheless, the majority of 1 analysts consider that the stock is a Hold with neither a large upside nor a downside. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.
MGM Resorts International (NYSE:MGM): The stock opened at $22.86 on Thursday but the bulls could not build on the opening and the stock topped out at $22.89 for the day. The stock traded down to $22.28 during the day, due to lack of any buying support eventually closed down at $22.63 with a loss of -0.48% for the day. The stock had closed at $22.74 on the previous day. The total traded volume was 6,277,048 shares.
In an insider trading activity, The Securities and Exchange Commission has divulged that Gay Mary Christine, director of Mgm Resorts International, had unloaded 5,300 shares at an average price of $23.89 in a transaction dated on June 14, 2016. The total value of the transaction was worth $126,617.
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.