NEW YORK (AVAFIN) -- A total of 24 block trades were executed during the market session, typically at least 10,000 shares or more represent a single block unit. Block trading activity shows that $7,244,709 worth of shares were bought and $7,565,083 worth of shares were sold by institutional investors. The negative net cash flow of $,320,373 out of the stock shows that investment houses have negative outlook for shares of MGM Resorts International.
Options traders were busy as well, a total of 15,041 call and 22,848 put contracts were traded yesterday yielding a 1.52 put/call ratio.
MGM Resorts is the largest gaming and hotel company in the Las Vegas Strip gaming market, with more than 40,000 guest rooms and suites on the Strip, representing approximately 30% of all guest rooms in the market. The company's Vegas properties include Bellagio, MGM Grand, Mandalay Bay, Mirage, Luxor, New York-New York, and a 50% ownership stake in CityCenter. Strip revenue comprises approximately 80% of revenue. In addition to its properties on the Strip, the company operates the 50%-owned MGM Macau, and casinos in other smaller markets.
Shares of MGM Resorts International edged up $0.20 (+0.85%) to $23.72. The price of the stock ranged between a low of $23.32 and $23.94 respectively. The trading volume of 8M is below the 90 day average volume of 8M shares. The technical momentum Relative Strength Index indicator shows overbought conditions. MGM is trading above the 50 day moving average. The stock's 52 week low is $11.72 and 52 week high is $23.65. To date, the stock has gained 13.40% within the last quarter.