MGM Resorts International
MGM:NYSE
| Last | Change / % Change | Dividend Yield | Volume | Avg Volume (10 day) |
| 12.48 | 0.00 0.00% | 0.00% | 9,969,473 | 12.7M |
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Latest News Headlines for MGM Resorts International
MGM Resorts International Fails to Respond: Down 5.4% Since Last Week's Upgrade
A week ago, RBC Capital upgraded MGM Resorts International from Sector Perform to Outperform. The shares closed at $12.19, or 5.4% under the $12.88 price of one week ago.
In the past 52 weeks, shares of MGM Resorts International have traded between a low of $8.83 and a high of $14.80 and are now at $12.21, which is 38% above that low price. The 200-day and 50-day moving averages have moved 0.03% lower and 0.68% higher over the past week, respectively.
Potential MGM Mirage (MGM) Trade Has $10.80 Breakeven
MGM MIRAGE (NYSE: MGM) closed Monday's trading session at $12.19. In the past year, the stock has hit a 52-week low of $8.83 and 52-week high of $14.80. MGM Mirage (MGM) stock has been showing support around $11.72 and resistance in the $13.00 range. Technical indicators for the stock are Bearish and S&P; gives MGM Mirage (MGM) a neutral 3 STARS (out of 5) hold rating. For a hedged play on MGM Mirage (MGM), look at the Sep '13 $12.00 covered call for a net debit in the $10.80 area. That is also the break-even stock price for this trade. This covered call has a duration of 207 days, provides 11.40% downside protection and an assigned return rate of 11.11% for an annualized return rate of 19.59% (for comparison purposes only). A lower-cost hedged play for MGM Mirage (MGM) would use a longer term call option in place of the covered call stock purchase. To use this strategy look at going long the MGM Mirage (MGM) Jan '14 $8.00 call and selling the Sep '13 $12.00 call for a total debit of $3.16. The trade has a lifespan of 207 days and would provide 8.45% downside protection and an assigned return rate of 26.58% for an annualized return rate of 47% (for comparison purposes only). MGM Mirage (MGM) has a current trailing average dividend yield of 0%.
Buyers Accumulate Shares of MGM Resorts International, Up 2.3%
View more recent headlinesMGM Resorts International (NYSE:MGM) is one of today's biggest movers, up 2.3% to $12.71. The Dow Jones Industrial Average is now trading fractionally higher to 14,009 and the S&P; is trading fractionally higher to 1,517.
Company Background
MGM Resorts International is a holding company. The Company is a hospitality company. Its primary business is the ownership and operation of casino resorts, which includes offering gaming, hotel, convention, dining, entertainment, retail and other resort amenities. Its operations are conducted through the Company's wholly owned subsidiaries. The Company has two segments that are based on the regions, in which it operates: wholly owned domestic resorts and MGM China. As of December 31, 2011, the Company operated 15 wholly owned resorts in the United States. As of December 31, 2011, Tracinda Corporation owned approximately 23% interest in the Company. On June 3, 2011, the Company acquired an additional 1% interest and obtained a controlling interest in MGM China Holdings Limited (MGM China) and thereby became the indirect owner of 51% of MGM China. MGM China's operations consist of the MGM Macau resort and casino.
Bid/Size -- / -- | Ask/Size -- / -- |
Price Open 12.17 | Previous Close 12.48 |
Day High 12.50 | Day Low 12.1599 |
52wk High/Date 14.80 / 3/27/2012 | 52wk Low/Date 8.83 / 8/2/2012 |
% off 52wk High -15.68% | % off 52wk Low 41.34% |
Beta (5 Yr) 3.7 | Market Capitalization 6.1B |
Shares Outstanding 489.2M | Volatility Avg 35.32 |
EPS(TTM) -3.61 | P/E Ratio Not Meaningful |
Dividend Announcement -- | Dividend Yield 0.00% |
Ex-Date -- | Date of Record -- |
Payable 0.00 - -- | Payable Date -- |
Last Trade as of 2/27/2013 4:00 PM ET | |
MGM MGM Resorts International vs. Peers
| Peers | |
|---|---|
MGM MGM Resorts International | 4.04% |
Wynn Resorts, Limited | 2.68% |
Boyd Gaming Corporation | -2.11% |
Pinnacle Entertainment, Inc | -12.95% |
Archon Corporation | 8.11% |
MGM MGM Resorts International | 0.00% |
Wynn Resorts, Limited | 3.46% |
Boyd Gaming Corporation | -- |
Pinnacle Entertainment, Inc | -- |
Archon Corporation | -- |
MGM MGM Resorts International | 0.00% |
Wynn Resorts, Limited | 0.00% |
Boyd Gaming Corporation | 0.00% |
Pinnacle Entertainment, Inc | 0.00% |
Archon Corporation | 0.00% |