GAMMA Investing LLC Takes $233,000 Position in MGM Resorts International (NYSE:MGM)

GAMMA Investing LLC bought a new stake in shares of MGM Resorts International (NYSE:MGM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,383 shares of the company’s stock, valued at approximately $233,000.

Other institutional investors have also recently made changes to their positions in the company. Regatta Capital Group LLC grew its holdings in shares of MGM Resorts International by 1.8% during the fourth quarter. Regatta Capital Group LLC now owns 13,753 shares of the company’s stock worth $614,000 after buying an additional 247 shares in the last quarter. Sandy Spring Bank grew its holdings in shares of MGM Resorts International by 33.7% during the fourth quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock worth $51,000 after buying an additional 288 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of MGM Resorts International by 2.4% during the third quarter. Fifth Third Bancorp now owns 12,173 shares of the company’s stock worth $447,000 after buying an additional 289 shares in the last quarter. Kingswood Wealth Advisors LLC grew its holdings in shares of MGM Resorts International by 3.1% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 9,587 shares of the company’s stock worth $428,000 after buying an additional 292 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in MGM Resorts International by 0.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 80,324 shares of the company’s stock valued at $2,953,000 after buying an additional 302 shares during the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total value of $13,942,500.00. Following the completion of the sale, the director now owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.13% of the stock is owned by corporate insiders.

MGM Resorts International Price Performance

Shares of NYSE MGM opened at $42.18 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.57 and a quick ratio of 1.53. The stock has a fifty day moving average price of $43.76 and a 200 day moving average price of $42.09. MGM Resorts International has a 1-year low of $34.12 and a 1-year high of $51.35. The company has a market cap of $13.37 billion, a PE ratio of 13.31, a P/E/G ratio of 1.76 and a beta of 2.19.

MGM Resorts International (NYSE:MGM) last released its earnings results on Tuesday, February 13th. The company reported $1.06 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.39. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The company had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter last year, the company earned $0.69 earnings per share. MGM Resorts International’s quarterly revenue was up 21.8% compared to the same quarter last year. Sell-side analysts forecast that MGM Resorts International will post 2.46 EPS for the current year.

Analyst Ratings Changes

MGM has been the topic of a number of recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $57.00 target price on shares of MGM Resorts International in a research report on Wednesday, February 14th. Barclays reduced their price target on shares of MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 14th. TheStreet raised shares of MGM Resorts International from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th. Bank Of America (Bofa) raised their target price on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Finally, Mizuho initiated coverage on shares of MGM Resorts International in a report on Tuesday, March 26th. They issued a “buy” rating and a $61.00 target price on the stock. Four analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, MGM Resorts International currently has an average rating of “Moderate Buy” and an average price target of $55.34.

MGM Resorts International 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.