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

Gamco Investors INC. ET AL decreased its holdings in shares of MGM Resorts International (NYSE:MGM - Free Report) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 491,905 shares of the company's stock after selling 11,800 shares during the period. Gamco Investors INC. ET AL owned approximately 0.17% of MGM Resorts International worth $17,045,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Global Trust Asset Management LLC purchased a new position in shares of MGM Resorts International in the fourth quarter valued at about $28,000. Assetmark Inc. increased its stake in shares of MGM Resorts International by 104.1% during the fourth quarter. Assetmark Inc. now owns 806 shares of the company's stock valued at $28,000 after purchasing an additional 411 shares in the last quarter. Global Retirement Partners LLC raised its stake in MGM Resorts International by 47.8% during the fourth quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock valued at $43,000 after buying an additional 404 shares during the last quarter. Modus Advisors LLC bought a new position in MGM Resorts International in the 4th quarter worth about $46,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of MGM Resorts International by 74.9% during the fourth 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. Hedge funds and other institutional investors own 68.11% of the company's stock.

Insider Activity

In other news, CFO Jonathan S. Halkyard purchased 10,000 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was bought at an average cost of $32.17 per share, with a total value of $321,700.00. Following the purchase, the chief financial officer now directly owns 75,648 shares of the company's stock, valued at approximately $2,433,596.16. This trade represents a 15.23 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $227,040.00. Following the completion of the sale, the chief accounting officer now directly owns 18,301 shares of the company's stock, valued at $692,509.84. This represents a 24.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.13% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on MGM. Stifel Nicolaus lifted their price target on shares of MGM Resorts International from $47.00 to $50.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Leerink Partners downgraded MGM Resorts International to a "market perform" rating in a research note on Thursday, February 13th. Capital One Financial upped their price objective on MGM Resorts International from $52.00 to $56.00 and gave the company an "overweight" rating in a research report on Wednesday, February 12th. Mizuho raised their target price on MGM Resorts International from $56.00 to $60.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Finally, Wedbush reaffirmed an "outperform" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $50.71.

MGM Resorts International Stock Performance

Shares of MGM Resorts International stock traded up $0.43 during trading hours on Friday, reaching $28.89. The company's stock had a trading volume of 4,333,562 shares, compared to its average volume of 4,617,484. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. MGM Resorts International has a one year low of $25.30 and a one year high of $47.26. The company's 50 day simple moving average is $32.12 and its 200 day simple moving average is $34.93. The stock has a market cap of $8.18 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 0.98 and a beta of 1.96.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.08. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. As a group, analysts expect that MGM Resorts International will post 2.21 EPS for the current fiscal year.

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.