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MGM

MGM Resorts

$30.98

-0.51 (-1.62%)

11:15
08/10/17
08/10
11:15
08/10/17
11:15

MGM Resorts put volume heavy and directionally bearish

Bearish flow noted in MGM Resorts with 5,890 puts trading, or 1.6x expected. Most active are Aug-17 31.5 puts and Aug-17 32 puts, with total volume in those strikes near 4,100 contracts. The Put/Call Ratio is 3.34, while ATM IV is up nearly 4 points on the day. Earnings are expected on November 6th.

MGM MGM Resorts
$30.98

-0.51 (-1.62%)

08/01/17
08/01/17
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. MGM Resorts (MGM) downgraded to Neutral from Buy at UBS with analyst Robin Farley saying the current valuation, with the shares up 37% over the past 12 months, now captures much of the value of the REIT transaction and improving Las Vegas outlook. 2. Boardwalk Pipeline (BWP) downgraded to Sector Perform from Outperform at RBC Capital with analyst Elvira Scotto saying she expects the stock to be "range bound" until its 2019-2020 outlook become clearer. 3. La-Z-Boy (LZB) downgraded to Neutral from Buy at Sidoti with analyst Anthony Lebiedzinski saying shares are approaching his $36 price target. 4. Regeneron (REGN) downgraded to Underperform from Neutral at Baird with analyst Brian Skorney saying Dupixent expectations have gotten ahead of themselves and consensus numbers currently reflect an overlap with Cosentyx sales which looks like an overestimate. 5. Corporate Office Properties (OFC) downgraded to Sell from Hold at Stifel with analyst John Guinee saying he believes that the Real Estate Investment Trust will be hurt by "persistently weak leasing economics," the expirations of a large number of its leases with high rents, and efforts by defense and IT organization to keep rent costs low. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/01/17
UBSW
08/01/17
DOWNGRADE
Target $36
UBSW
Neutral
MGM Resorts downgraded to Neutral from Buy at UBS
UBS analyst Robin Farley downgraded MGM Resorts to Neutral while raising her price target for the shares to $36 from $33. The current valuation, with the shares up 37% over the past 12 months, now captures much of the value of the REIT transaction and improving Las Vegas outlook, Farley tells investors in a research note.
07/17/17
GSCO
07/17/17
NO CHANGE
GSCO
Goldman says capital flow scrutiny could hurt sentiment on Macau gaming names
Goldman Sachs analyst Simon Cheung noted reports that Macau's largest junket operator has distributed a memo to its customers advising that police have launched large-scale investigations into questionable cross-border money transfers. To avoid scrutiny, some players may gamble less, which could hurt gross gaming revenue momentum in the near-term, Cheung tells investors. More important, perhaps, will be whether this issue will structurally impair the money transfer mechanism and that investors may become more concerned about the space. Publicly traded companies in the Macau gaming space include Las Vegas Sands (LVS), MGM Resorts (MGM), Wynn Resorts (WYNN) and Melco Resorts (MLCO).
06/12/17
TLSY
06/12/17
NO CHANGE
TLSY
Macau estimates should continue to move higher, says Telsey Advisory
Telsey Advisory's contacts indicate the first 11 days of June's results indicate growth year-over-year of 29%-31% for the month, which is better than expected and supports the firm's view that estimates will continue to move higher heading into the quarterly reporting season. Telsey's analyst continues to see better leverage for Outperform rated Wynn Resorts (WYNN), with MGM Resorts (MGM) and Las Vegas Sands (LVS) also as beneficiaries.

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, ESV

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