GAMMA Investing LLC Sells 1,089 Shares of MGM Resorts International (NYSE:MGM)

GAMMA Investing LLC decreased its position in shares of MGM Resorts International (NYSE:MGM) by 15.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,858 shares of the company’s stock after selling 1,089 shares during the period. GAMMA Investing LLC’s holdings in MGM Resorts International were worth $203,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. MidAtlantic Capital Management Inc. purchased a new stake in shares of MGM Resorts International in the third quarter worth $28,000. Eastern Bank purchased a new stake in MGM Resorts International in the 3rd quarter worth $35,000. Ashton Thomas Private Wealth LLC bought a new stake in MGM Resorts International during the second quarter valued at about $49,000. Brooklyn Investment Group purchased a new position in shares of MGM Resorts International in the third quarter valued at about $44,000. Finally, Planning Capital Management Corp bought a new position in shares of MGM Resorts International in the third quarter worth about $45,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on MGM shares. Truist Financial decreased their target price on MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a research note on Wednesday, October 23rd. Deutsche Bank Aktiengesellschaft cut their price objective on shares of MGM Resorts International from $57.00 to $52.00 and set a “buy” rating for the company in a report on Tuesday, October 1st. Barclays lowered their target price on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a report on Friday, December 13th. Morgan Stanley lifted their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group dropped their price objective on shares of MGM Resorts International from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $52.36.

Insider Transactions at MGM Resorts International

In other news, Director Keith A. Meister sold 51,000 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $36.57, for a total transaction of $1,865,070.00. Following the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at approximately $207,991,070.46. This trade represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.13% of the company’s stock.

MGM Resorts International Stock Performance

NYSE:MGM opened at $33.22 on Wednesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. MGM Resorts International has a fifty-two week low of $33.09 and a fifty-two week high of $48.24. The firm has a market capitalization of $9.89 billion, a PE ratio of 11.86, a PEG ratio of 3.10 and a beta of 2.21. The stock’s fifty day moving average is $36.32 and its 200 day moving average is $38.65.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.58 by ($0.04). MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business had revenue of $4.18 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts anticipate that MGM Resorts International will post 2.48 earnings per share for the current year.

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.