Advan Notable Hits: MGM Resorts International (MGM)

February 10, 2023 By Valantis Aristeidous Tags: FINANCIAL-TRENDS, ADVAN HITS

Notable Hit: (MGM:NYSE) On Wednesday February 8, 2023 MGM Resorts International (MGM) posted revenues of $3.59 billion, surpassing the consensus estimates by 7.8% and in the same direction as Advan's forecasted sales. The revenue increased 17.5% YoY - in line with Advan's foot traffic data increase of 7.5% YoY across its destination resorts for Q4 2022. The stock next day opened at $44.39, up 7.1% from previous close. Advan's footfall data has a correlation of 0.993 on a YoY basis with MGM's top-line revenue over the last 16 quarters.

Advan Hits: MGM correlation traffic vs revenue

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About Advan

Advan is the leader in the financial and real estate industries, enabling participants to analyze foot traffic data across multiple sectors, including retail, hospitality, consumer services, energy, technology, healthcare, REITS, financials and others. Advan derives its datasets using multi parameter models that analyze cellphone location data crossed with curated geofenced areas.

Top tier institutional investors spanning from quantitative hedge funds to fundamental asset managers have been the main consumers of Advan’s products.