Large Inflow of Money Witnessed in MGM Resorts International

MGM Resorts International (MGM) : On Thursday, The money flowed into the MGM Resorts International (MGM) stock with an uptick to downtick ratio was recorded at 1.34. Transactions worth $9.55 million were done on upticks, confirming the buying interest in the stock. The outflow of money on downticks stood at $7.13 million. The total money flow into the stock was $2.43 million. The investors are using every small weakness in the stock to accumulate it, as can be seen in the $2.58 million of block transactions on upticks. The total money flow in block trades was $2.58 million. In terms of price action, MGM Resorts International (MGM) traded down $0.08 during the session at $22.88. Compared to the previous days closing, the stock was down only by -0.33%. For the week, the stock is 0.42%, over previous weeks closing.


MGM Resorts International (MGM) : 10 Wall Street analysts covering MGM Resorts International (MGM) believe that the average level the stock could reach for the short term is $29.3. The maximum price target given is $31 and the minimum target for short term is around $27, hence the standard deviation is calculated at $1.25. The stock has recorded a 20-day Moving Average of 3.01% and the 50-Day Moving Average is 0.41%.

MGM Resorts International (NYSE:MGM): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $23.00 and $22.76 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $23.32. The buying momentum continued till the end and the stock did not give up its gains. It closed at $22.98, notching a gain of 0.13% for the day. The total traded volume was 5,092,729 . The stock had closed at $22.95 on the previous day.

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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