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MGM

MGM Resorts

$35.79

-0.98 (-2.67%)

16:17
03/13/18
03/13
16:17
03/13/18
16:17

MGM Resorts to repurchase 10M shares of common stock from Tracinda

MGM Resorts announced that it will purchase 10M shares of its common stock from Tracinda Corporation at $36.24 per share, a 1.5% discount to the market closing price on March 9, for a total aggregate amount of $362.4M. Following the purchase, Tracinda will own approximately 27.2M shares, or 4.8% of the company's outstanding common stock. The repurchase is expected to occur on March 15, and will be made pursuant to the terms of the company's $1B stock repurchase program, of which $310.1M will remain following the transaction. As of March 8, there were approximately 566.7M shares of the company's common stock outstanding.

MGM MGM Resorts
$35.79

-0.98 (-2.67%)

03/08/18
STFL
03/08/18
NO CHANGE
STFL
Stifel returns from Macau trip with 'much more positive' view for 2018
Stifel analyst Steven Wieczynski said that after meeting with property managements and industry contacts in Macau recently he came back with a "much more positive/constructive view for 2018" than he was previously forecasting. It was clear that operators were "thrilled" with how the Chinese New Year holiday played out and demand post-CNY had continued to be strong, especially on the VIP side, Wieczynski tells investors. He maintains his Buy rating on Las Vegas Sands (LVS) and Hold ratings on MGM Resorts (MGM) and Wynn Resorts (WYNN). Melco Resorts (MLCO) is another publicly traded company in the Macau gaming space.
01/18/18
JEFF
01/18/18
INITIATION
Target $43
JEFF
Buy
MGM Resorts initiated with a Buy at Jefferies
Jefferies analyst David Katz started MGM Resorts (MGM) with a Buy rating and $43 price target. The analyst says the Cotai opening in the near term and positive capital deployment trump concerns over challenging Las Vegas comparisons. Katz initiated 11 Gaming names after today's close, naming Wynn Resorts (WYNN), Eldorado Resorts (ERI) and Penn National (PENN) his top picks.
01/16/18
MSCO
01/16/18
NO CHANGE
MSCO
Morgan Stanley raises 2018 Macau gaming revenue growth forecast to 16%
Morgan Stanley analyst Thomas Allen raised his 2018 Macau gaming revenue growth forecast to 16% from 11%, noting that Q4 revenue growth of 20% topped his expectation for growth of 15% and he sees an opportunity for "lower tier" Chinese cities to support faster growth. Among casino names, Allen names Wynn Resorts (WYNN) as his top pick in U.S. Gaming and Lodging, calling MGM Resorts (MGM) his next favorite stock in the space. Other publicly traded companies in the Macau gaming space include Las Vegas Sands (LVS) and Melco Resorts (MLCO).
01/09/18
JPMS
01/09/18
NO CHANGE
Target $44
JPMS
Overweight
JPMorgan calls MGM 'best absolute value' in gaming for 2018
MGM Resorts offers the gaming sector's most attractive risk/reward for 2018, JPMorgan analyst Joseph Greff tells investors in a research note. Following stock rallies in the sector last year, MGM is now the "best absolute value play," the analyst adds. He views expectations as reasonable and upped his price target for the stock to $44 from $41. Greff keeps an Overweight rating on MGM Resorts.

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2.99 (1.63%)

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National Retail Properties

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BLCM

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THG

Hanover Insurance

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Bausch Health

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IDRA

Idera Pharmaceuticals

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SBUX

Starbucks

$66.90

0.8 (1.21%)

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CPRX

Catalyst Pharmaceuticals

$2.47

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REXR

Rexford Industrial

$31.42

0.09 (0.29%)

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COST

Costco

$226.41

-1.41 (-0.62%)

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LPTX

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CIEN

Ciena

$34.90

2.765 (8.60%)

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LPTX

Leap Therapeutics

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TTD

Trade Desk

$139.16

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BCEI

Bonanza Creek

$25.01

-0.26 (-1.03%)

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SBUX

Starbucks

$66.90

0.8 (1.21%)

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TCBI

Texas Capital

$53.03

-2.42 (-4.36%)

06:57
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GCO

Genesco

$42.10

-2.39 (-5.37%)

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KAMN

Kaman

$56.89

-0.18 (-0.32%)

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