MGM Resorts International $MGM Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC cut its stake in MGM Resorts International (NYSE:MGM) by 11.3% in the third quarter, Holdings Channel.com reports. The fund owned 238,500 shares of the company’s stock after selling 30,300 shares during the quarter. Gabelli Funds LLC’s holdings in MGM Resorts International were worth $8,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of MGM. Dimensional Fund Advisors LP grew its holdings in shares of MGM Resorts International by 5.4% during the third quarter. Dimensional Fund Advisors LP now owns 2,373,440 shares of the company’s stock worth $82,305,000 after purchasing an additional 121,359 shares during the last quarter. Cresset Asset Management LLC lifted its holdings in shares of MGM Resorts International by 56.9% in the 3rd quarter. Cresset Asset Management LLC now owns 13,348 shares of the company’s stock valued at $463,000 after purchasing an additional 4,843 shares during the last quarter. Focus Partners Advisor Solutions LLC acquired a new stake in shares of MGM Resorts International in the 3rd quarter valued at about $1,014,000. Aster Capital Management DIFC Ltd boosted its position in shares of MGM Resorts International by 55.0% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 10,618 shares of the company’s stock valued at $368,000 after purchasing an additional 3,766 shares during the period. Finally, Waddell & Associates LLC purchased a new position in MGM Resorts International during the 3rd quarter worth approximately $286,000. Institutional investors and hedge funds own 68.11% of the company’s stock.

MGM Resorts International Trading Down 4.0%

Shares of MGM Resorts International stock opened at $35.63 on Monday. MGM Resorts International has a 52-week low of $25.30 and a 52-week high of $40.16. The company has a quick ratio of 1.20, a current ratio of 1.23 and a debt-to-equity ratio of 1.91. The company’s 50-day simple moving average is $35.37 and its 200-day simple moving average is $34.95. The firm has a market cap of $9.12 billion, a price-to-earnings ratio of 47.51 and a beta of 1.38.

MGM Resorts International (NYSE:MGM) last posted its quarterly earnings results on Wednesday, February 4th. The company reported $1.60 earnings per share (EPS) 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 net margin of 1.17% and a return on equity of 26.04%. During the same period in the prior year, the company posted $0.45 earnings per share. As a group, equities research analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on MGM shares. Berenberg Bank reaffirmed a “buy” rating on shares of MGM Resorts International in a research report on Wednesday, February 11th. UBS Group decreased their price objective on MGM Resorts International from $39.00 to $37.00 and set a “neutral” rating for the company in a report on Monday, November 17th. Weiss Ratings restated a “sell (d)” rating on shares of MGM Resorts International in a research report on Monday, December 29th. Barclays set a $37.00 target price on shares of MGM Resorts International in a report on Friday, February 6th. Finally, Stifel Nicolaus upped their price target on shares of MGM Resorts International from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seven have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $41.94.

MGM Resorts International 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.