MGM Resorts International (MGM) : Morgens Waterfall Vintiadis Co Inc scooped up 63,000 additional shares in MGM Resorts International during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 12, 2016. The investment management firm now holds a total of 115,000 shares of MGM Resorts International which is valued at $3,053,250.MGM Resorts International makes up approximately 2.76% of Morgens Waterfall Vintiadis Co Inc’s portfolio.
Other Hedge Funds, Including , Creative Planning reduced its stake in MGM by selling 800 shares or 0.84% in the most recent quarter. The Hedge Fund company now holds 93,926 shares of MGM which is valued at $2,493,735. MGM Resorts International makes up approx 0.02% of Creative Planning’s portfolio.Cutler Group Lp boosted its stake in MGM in the latest quarter, The investment management firm added 12,456 additional shares and now holds a total of 13,086 shares of MGM Resorts International which is valued at $350,574. MGM Resorts International makes up approx 0.02% of Cutler Group Lp’s portfolio.Cupps Capital Management reduced its stake in MGM by selling 56,363 shares or 99.8% in the most recent quarter. The Hedge Fund company now holds 112 shares of MGM which is valued at $3,000.Advisory Services Network reduced its stake in MGM by selling 601 shares or 75.03% in the most recent quarter. The Hedge Fund company now holds 200 shares of MGM which is valued at $5,284.Bnp Paribas Arbitrage Sa reduced its stake in MGM by selling 6,543 shares or 15.35% in the most recent quarter. The Hedge Fund company now holds 36,079 shares of MGM which is valued at $961,145.
MGM Resorts International closed down -0.24 points or -0.90% at $26.55 with 31,28,867 shares getting traded on Tuesday. Post opening the session at $26.89, the shares hit an intraday low of $26.43 and an intraday high of $27.02 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.
On the company’s financial health, MGM Resorts International reported $0.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.04 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $0.25. The company had revenue of $2269.50 million for the quarter, compared to analysts expectations of $2330.39 million. The company’s revenue was down -4.8 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.19 EPS.
Many Wall Street Analysts have commented on MGM Resorts International. Company shares were Reiterated by Nomura on Oct 5, 2016 to “Buy”, Firm has raised the Price Target to $ 32 from a previous price target of $28 .
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.