Large Outflow of Money Witnessed in MGM Resorts International

MGM Resorts International (MGM) : Net money flow in MGM Resorts International (MGM) was negative ($7.26 million) and the inflow of money on uptick was $23.38 million, whereas, the outflow of money on downticks amounted to $30.64 million on Wednesday. The traders used every opportunity of price strength in the stock to sell their positions, hence, the total uptick to downtick ratio was 0.76. The block trades show that the large investors, were aggressive sellers in the stock. The total value of block trades on upticks was only $1.63 million. On the other hand, the total value of block trades done on downticks was $10.66 million. The ratio of uptick to downtick block trades was 0.15. The money flow in block trades was negative ($9.04). MGM Resorts International (MGM) gained $0.78 cent during the day and reached $26.35, a gain of 3.05% over the previous day.

MGM

Shares of MGM Resorts International rose by 5.06% in the last five trading days and 10.9% for the last 4 weeks. MGM Resorts International is up 15.88% in the last 3-month period. Year-to-Date the stock performance stands at 15.98%.

MGM Resorts International (MGM) : The consensus on MGM Resorts International (MGM) based on 12 analyst recommendation on the company stock is 1.13, which is interpreted as a Strong Buy recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 10 brokers have a differing view as they consider the stock to be a Strong Buy at current levels. 2 analyst believes that the stock is a Buy, which can produce decent returns in the future.

MGM Resorts International (NYSE:MGM): The stock opened at $25.67 and touched an intraday high of $26.39 on Wednesday. During the day, the stock corrected to an intraday low of $25.65, however, the bulls stepped in and pushed the price higher to close in the green at $26.35 with a gain of 3.05% for the day. The total traded volume for the day was 6,874,291. The stock had closed at $25.57 in the previous trading session.

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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