MGM Resorts International (MGM) has been under a strong bear grip, hence the stock is down -9.13% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.16% in the past 1 week. The stock has risen by 1.66% in the past week indicating that the buyers are active at lower levels, but the stock is down -5.16% in the past 4 weeks. The stock has recorded a 20-day Moving Average of 0.35% and the 50-Day Moving Average is 1.18%.
MGM Resorts International (NYSE:MGM): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $23.43 and $23.19 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $23.61. The buying momentum continued till the end and the stock did not give up its gains. It closed at $23.34, notching a gain of 0.21% for the day. The total traded volume was 4,996,991 . The stock had closed at $23.29 on the previous day.
The company Insiders own 16.9% of MGM Resorts International shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -40.62% . Institutional Investors own 71.07% of MGM Resorts International shares. During last six month period, the net percent change held by insiders has seen a change of -22.91%. In a related news,The director of Mgm Resorts International, Gay Mary Christine sold 5,300 shares at $23.89 on June 14, 2016. The Insider selling transaction had a total value worth of $126,617. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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.