MGM Resorts International (MGM) has risen sharply, recording gains of 4.18% in the past 4 weeks. However, the stock has corrected -1.39% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 3.78% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
MGM Resorts International is up 11.03% in the last 3-month period. Year-to-Date the stock performance stands at 6.34%. The stock has recorded a 20-day Moving Average of 0.22% and the 50-Day Moving Average is 1.65%.
MGM Resorts International (NYSE:MGM): The stock opened at $24.18 on Friday but the bulls could not build on the opening and the stock topped out at $24.26 for the day. The stock traded down to $23.95 during the day, due to lack of any buying support eventually closed down at $24.16 with a loss of -0.82% for the day. The stock had closed at $24.36 on the previous day. The total traded volume was 3,155,812 shares.
Also, Buckingham Research initiates coverage on MGM Resorts International (NYSE:MGM) The brokerage firm has issued a Buy rating on the shares. The rating by the firm was issued on August 11, 2016.
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.