Gamco Investors INC. ET AL Has $17.05 Million Stock Holdings in MGM Resorts International (NYSE:MGM)

Gamco Investors INC. ET AL lowered its position in MGM Resorts International (NYSE:MGM) by 2.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 491,905 shares of the company’s stock after selling 11,800 shares during the quarter. Gamco Investors INC. ET AL owned 0.17% of MGM Resorts International worth $17,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in MGM. Global Trust Asset Management LLC acquired a new position in MGM Resorts International in the 4th quarter valued at approximately $28,000. Assetmark Inc. increased its holdings in MGM Resorts International by 104.1% in the fourth quarter. Assetmark Inc. now owns 806 shares of the company’s stock valued at $28,000 after purchasing an additional 411 shares during the period. Global Retirement Partners LLC raised its position in MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company’s stock worth $43,000 after purchasing an additional 404 shares during the last quarter. Modus Advisors LLC bought a new stake in shares of MGM Resorts International in the 4th quarter valued at about $46,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of MGM Resorts International by 74.9% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,478 shares of the company’s stock valued at $51,000 after buying an additional 633 shares during the last quarter. Institutional investors own 68.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MGM shares. Leerink Partners downgraded shares of MGM Resorts International to a “market perform” rating in a research report on Thursday, February 13th. Canaccord Genuity Group reissued a “buy” rating on shares of MGM Resorts International in a research note on Thursday, February 13th. BTIG Research lowered shares of MGM Resorts International from a “buy” rating to a “neutral” rating in a report on Monday, February 3rd. Barclays reiterated an “equal weight” rating on shares of MGM Resorts International in a report on Thursday, February 13th. Finally, Stifel Nicolaus boosted their price objective on MGM Resorts International from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, MGM Resorts International currently has a consensus rating of “Moderate Buy” and an average price target of $51.29.

MGM Resorts International Stock Up 0.3 %

MGM stock opened at $29.71 on Wednesday. The stock’s 50 day moving average is $32.46 and its 200-day moving average is $35.12. MGM Resorts International has a twelve month low of $25.30 and a twelve month high of $47.26. The firm has a market capitalization of $8.41 billion, a PE ratio of 12.38, a P/E/G ratio of 0.98 and a beta of 1.96. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings data on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.08. MGM Resorts International had a net margin of 4.33% and a return on equity of 21.08%. Sell-side analysts expect that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Todd Meinert sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $37.84, for a total value of $227,040.00. Following the transaction, the chief accounting officer now owns 18,301 shares in the company, valued at $692,509.84. The trade was a 24.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jonathan S. Halkyard purchased 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average cost of $32.17 per share, with a total value of $321,700.00. Following the completion of the transaction, the chief financial officer now directly owns 75,648 shares of the company’s stock, valued at $2,433,596.16. The trade was a 15.23 % increase in their position. The disclosure for this purchase can be found here. 2.13% of the stock is currently owned by insiders.

About MGM Resorts International

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.