MGM Resorts International $MGM Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lessened its position in MGM Resorts International (NYSE:MGM) by 11.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 238,500 shares of the company’s stock after selling 30,300 shares during the quarter. Gabelli Funds LLC owned about 0.09% of MGM Resorts International worth $8,266,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC grew its holdings in shares of MGM Resorts International by 0.8% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 39,763 shares of the company’s stock valued at $1,378,000 after purchasing an additional 328 shares in the last quarter. NewEdge Advisors LLC lifted its holdings in MGM Resorts International by 12.1% during the 1st quarter. NewEdge Advisors LLC now owns 3,893 shares of the company’s stock worth $115,000 after buying an additional 421 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in MGM Resorts International by 22.5% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,432 shares of the company’s stock worth $84,000 after buying an additional 446 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in MGM Resorts International by 7.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 7,387 shares of the company’s stock valued at $256,000 after buying an additional 543 shares during the period. Finally, Creative Planning boosted its position in MGM Resorts International by 0.6% in the 2nd quarter. Creative Planning now owns 94,815 shares of the company’s stock valued at $3,261,000 after buying an additional 577 shares during the period. 68.11% of the stock is currently owned by hedge funds and other institutional investors.

MGM Resorts International Trading Down 4.0%

MGM opened at $35.63 on Monday. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.20 and a current ratio of 1.23. MGM Resorts International has a one year low of $25.30 and a one year high of $40.16. The company has a market cap of $9.12 billion, a P/E ratio of 47.51 and a beta of 1.38. The business’s 50-day simple moving average is $35.37 and its 200-day simple moving average is $34.95.

MGM Resorts International (NYSE:MGM) last posted its earnings results on Wednesday, February 4th. The company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.96. The firm had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.42 billion. MGM Resorts International had a return on equity of 26.04% and a net margin of 1.17%.During the same quarter in the previous year, the business earned $0.45 earnings per share. As a group, equities research analysts expect that MGM Resorts International will post 2.21 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on MGM shares. Texas Capital raised MGM Resorts International to a “strong-buy” rating in a research report on Thursday, January 8th. Berenberg Bank reiterated a “buy” rating on shares of MGM Resorts International in a report on Wednesday, February 11th. Weiss Ratings restated a “sell (d)” rating on shares of MGM Resorts International in a report on Monday, December 29th. The Goldman Sachs Group reaffirmed a “sell” rating and issued a $33.00 price target on shares of MGM Resorts International in a research report on Monday, December 15th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $34.00 price objective on shares of MGM Resorts International in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $41.94.

About MGM Resorts International

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.