Somewhat Favorable News Coverage Somewhat Unlikely to Impact MGM Resorts International (MGM) Stock Price
News headlines about MGM Resorts International (NYSE:MGM) have been trending somewhat positive on Saturday, Accern Sentiment Analysis reports. The research firm ranks the sentiment of news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. MGM Resorts International earned a media sentiment score of 0.10 on Accern’s scale. Accern also gave media headlines about the company an impact score of 46.8738978444342 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the stock’s share price in the near future.
Here are some of the news stories that may have effected Accern’s analysis:
- MGM urges competitve bidding for Bridgeport casino – theday.com (theday.com)
- MGM ‘welcomes’ Bridgeport casino competition (hartfordbusiness.com)
- Analysts collectively favor MGM stock after Las Vegas shooting (reviewjournal.com)
- MGM Resorts responds to tribes’ interest in Bridgeport casino (westfaironline.com)
- MGM urges competitve bidding for a Bridgeport casino (theday.com)
MGM has been the topic of a number of recent research reports. Nomura decreased their target price on MGM Resorts International from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, November 1st. Roth Capital initiated coverage on MGM Resorts International in a report on Wednesday, October 25th. They issued a “buy” rating and a $38.00 target price on the stock. Morgan Stanley set a $34.00 target price on MGM Resorts International and gave the stock a “buy” rating in a report on Friday, October 13th. Instinet reaffirmed a “buy” rating and issued a $40.00 target price on shares of MGM Resorts International in a report on Tuesday, October 3rd. Finally, Bank of America reaffirmed a “buy” rating and issued a $40.00 target price (up from $38.00) on shares of MGM Resorts International in a report on Friday, September 8th. Six equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $36.50.
MGM Resorts International announced that its Board of Directors has initiated a share buyback program on Tuesday, September 5th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to buy up to 5.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, December 11th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, December 8th. This represents a $0.44 dividend on an annualized basis and a yield of 1.33%. MGM Resorts International’s payout ratio is presently 43.14%.
In other MGM Resorts International news, Director Sean Charland purchased 25,000 shares of the business’s stock in a transaction on Wednesday, December 6th. The stock was acquired at an average price of $22.50 per share, for a total transaction of $562,500.00. Also, EVP John Mcmanus sold 10,000 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $33.35, for a total value of $333,500.00. Following the completion of the sale, the executive vice president now owns 54,337 shares of the company’s stock, valued at approximately $1,812,138.95. The disclosure for this sale can be found here. Insiders sold a total of 146,056 shares of company stock valued at $4,816,302 in the last quarter. 12.20% of the stock is currently owned by company insiders.
COPYRIGHT VIOLATION NOTICE: “Somewhat Favorable News Coverage Somewhat Unlikely to Impact MGM Resorts International (MGM) Stock Price” was reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright laws. The correct version of this piece can be accessed at https://www.thecerbatgem.com/2017/12/09/somewhat-favorable-news-coverage-somewhat-unlikely-to-impact-mgm-resorts-international-mgm-stock-price.html.
MGM Resorts International Company Profile
MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.
Receive News & Stock Ratings for MGM Resorts International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Resorts International and related stocks with our FREE daily email newsletter.