Bamco Inc. NY Has $39.69 Million Stock Holdings in MGM Resorts International (NYSE:MGM)

Bamco Inc. NY cut its position in shares of MGM Resorts International (NYSE:MGM - Free Report) by 18.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,015,296 shares of the company's stock after selling 231,051 shares during the period. Bamco Inc. NY owned about 0.34% of MGM Resorts International worth $39,688,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in MGM. UMB Bank n.a. raised its stake in MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company's stock worth $42,000 after acquiring an additional 237 shares during the last quarter. Envestnet Portfolio Solutions Inc. lifted its position in shares of MGM Resorts International by 1.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 22,900 shares of the company's stock valued at $1,018,000 after acquiring an additional 278 shares in the last quarter. HB Wealth Management LLC grew its holdings in shares of MGM Resorts International by 6.3% during the second quarter. HB Wealth Management LLC now owns 4,917 shares of the company's stock worth $219,000 after buying an additional 293 shares in the last quarter. Quent Capital LLC boosted its holdings in shares of MGM Resorts International by 14.6% during the 3rd quarter. Quent Capital LLC now owns 2,383 shares of the company's stock worth $93,000 after purchasing an additional 304 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of MGM Resorts International by 0.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 53,200 shares of the company's stock worth $2,080,000 after acquiring an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company's stock.

MGM Resorts International Price Performance

Shares of MGM Resorts International stock traded down $0.83 during midday trading on Tuesday, hitting $37.46. 915,184 shares of the company were exchanged, compared to its average volume of 4,060,832. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.24 and a quick ratio of 1.21. The firm has a 50 day simple moving average of $38.73 and a 200-day simple moving average of $39.57. MGM Resorts International has a 52 week low of $33.44 and a 52 week high of $48.24. The firm has a market cap of $11.15 billion, a P/E ratio of 13.67, a PEG ratio of 2.74 and a beta of 2.20.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.04). The company had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The firm's revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 earnings per share. Research analysts forecast that MGM Resorts International will post 2.5 earnings per share for the current year.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 121,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $36.72, for a total transaction of $4,443,120.00. Following the sale, the director now directly owns 5,738,478 shares in the company, valued at $210,716,912.16. This represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.83% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently issued reports on MGM. Barclays reduced their price target on shares of MGM Resorts International from $54.00 to $50.00 and set an "overweight" rating on the stock in a research report on Thursday, October 31st. UBS Group raised MGM Resorts International to a "hold" rating in a report on Friday, August 23rd. JMP Securities lowered their target price on shares of MGM Resorts International from $54.00 to $50.00 and set a "market outperform" rating on the stock in a report on Monday, November 25th. Wells Fargo & Company reduced their target price on MGM Resorts International from $53.00 to $47.00 and set an "overweight" rating for the company in a report on Thursday, October 17th. Finally, Mizuho dropped their price objective on MGM Resorts International from $57.00 to $56.00 and set an "outperform" rating for the company in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $52.85.

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.