5,383 Shares in MGM Resorts International (NYSE:MGM) Bought by GAMMA Investing LLC

GAMMA Investing LLC purchased a new stake in MGM Resorts International (NYSE:MGM) in the 4th quarter, HoldingsChannel reports. The fund purchased 5,383 shares of the company’s stock, valued at approximately $233,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Davis Selected Advisers bought a new stake in MGM Resorts International in the third quarter valued at $361,915,000. Boston Partners increased its position in shares of MGM Resorts International by 1,447.6% during the third quarter. Boston Partners now owns 3,980,892 shares of the company’s stock worth $145,916,000 after acquiring an additional 3,723,659 shares in the last quarter. Invesco Ltd. increased its position in shares of MGM Resorts International by 14.6% during the third quarter. Invesco Ltd. now owns 3,940,156 shares of the company’s stock worth $144,840,000 after acquiring an additional 500,566 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of MGM Resorts International by 4.4% during the third quarter. Ameriprise Financial Inc. now owns 2,527,893 shares of the company’s stock worth $92,923,000 after acquiring an additional 106,158 shares in the last quarter. Finally, Qube Research & Technologies Ltd increased its position in shares of MGM Resorts International by 544.8% during the third quarter. Qube Research & Technologies Ltd now owns 1,995,768 shares of the company’s stock worth $73,364,000 after acquiring an additional 1,686,267 shares in the last quarter. 68.11% of the stock is owned by institutional investors.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the sale, the director now directly owns 6,098,778 shares in the company, valued at approximately $261,637,576.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MGM shares. JPMorgan Chase & Co. boosted their target price on shares of MGM Resorts International from $52.00 to $54.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. TheStreet upgraded shares of MGM Resorts International from a “c+” rating to a “b-” rating in a report on Tuesday, February 13th. Mizuho started coverage on shares of MGM Resorts International in a research note on Tuesday, March 26th. They issued a “buy” rating and a $61.00 target price on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Wednesday, February 14th. Finally, Macquarie reiterated an “outperform” rating and issued a $58.00 target price on shares of MGM Resorts International in a research note on Wednesday, February 14th. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $55.34.

MGM Resorts International Price Performance

Shares of NYSE:MGM opened at $42.18 on Friday. The company’s fifty day moving average price is $43.76 and its 200-day moving average price is $42.09. The firm has a market capitalization of $13.37 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 1.76 and a beta of 2.19. MGM Resorts International has a one year low of $34.12 and a one year high of $51.35. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.57 and a quick ratio of 1.53.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.39. The company had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.14 billion. MGM Resorts International had a net margin of 7.07% and a return on equity of 20.51%. The firm’s revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.69 EPS. On average, equities research analysts anticipate that MGM Resorts International will post 2.46 earnings per share for the current fiscal year.

MGM Resorts International Company Profile

MGM Resorts International, through its subsidiaries, owns and operates casino, hotel, and entertainment resorts in the United States and internationally. The company operates through three segments: Las Vegas Strip Resorts, Regional Operations, and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.