MGM Resorts International $MGM Shares Sold by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL reduced its position in MGM Resorts International (NYSE:MGM) by 23.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 349,172 shares of the company’s stock after selling 108,840 shares during the quarter. Gamco Investors INC. ET AL’s holdings in MGM Resorts International were worth $12,923,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MGM. CYBER HORNET ETFs LLC acquired a new position in shares of MGM Resorts International in the 2nd quarter worth approximately $25,000. Global Retirement Partners LLC raised its position in shares of MGM Resorts International by 55.9% during the 4th quarter. Global Retirement Partners LLC now owns 784 shares of the company’s stock valued at $29,000 after acquiring an additional 281 shares in the last quarter. International Assets Investment Management LLC bought a new position in MGM Resorts International during the first quarter worth $30,000. Elyxium Wealth LLC acquired a new position in MGM Resorts International in the fourth quarter worth $42,000. Finally, City Holding Co. acquired a new position in MGM Resorts International in the fourth quarter worth $44,000. Institutional investors own 68.11% of the company’s stock.

MGM Resorts International Stock Up 1.4%

MGM stock opened at $45.61 on Friday. The stock has a market cap of $11.67 billion, a PE ratio of 63.35 and a beta of 1.29. The firm’s 50-day simple moving average is $45.61 and its 200 day simple moving average is $39.61. MGM Resorts International has a fifty-two week low of $29.18 and a fifty-two week high of $51.59. The company has a quick ratio of 1.30, a current ratio of 1.33 and a debt-to-equity ratio of 1.93.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, April 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). MGM Resorts International had a net margin of 1.03% and a return on equity of 24.43%. The firm had revenue of $4.45 billion for the quarter, compared to analyst estimates of $4.37 billion. During the same period in the previous year, the firm earned $0.69 earnings per share. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. As a group, sell-side analysts predict that MGM Resorts International will post 1.98 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MGM. Stifel Nicolaus reissued a “hold” rating and set a $49.00 target price (up from $48.00) on shares of MGM Resorts International in a report on Monday, June 15th. Truist Financial raised shares of MGM Resorts International from a “hold” rating to a “buy” rating and lifted their price target for the company from $42.00 to $55.00 in a report on Wednesday, May 27th. Morgan Stanley reaffirmed an “underweight” rating on shares of MGM Resorts International in a research report on Wednesday. KeyCorp upgraded shares of MGM Resorts International from a “sector weight” rating to an “overweight” rating and set a $117.00 price objective on the stock in a research note on Monday, April 27th. Finally, Wells Fargo & Company upgraded MGM Resorts International from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $33.00 to $48.30 in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, MGM Resorts International has a consensus rating of “Hold” and an average price target of $52.31.

Insider Buying and Selling at MGM Resorts International

In other news, Director Daniel J. Taylor sold 6,675 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $38.44, for a total transaction of $256,587.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 3.38% of the company’s stock.

MGM Resorts International Company Profile

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.