GAMMA Investing LLC Buys 969 Shares of MGM Resorts International (NYSE:MGM)

GAMMA Investing LLC raised its position in shares of MGM Resorts International (NYSE:MGM) by 18.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,352 shares of the company’s stock after acquiring an additional 969 shares during the quarter. GAMMA Investing LLC’s holdings in MGM Resorts International were worth $300,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MGM. PNC Financial Services Group Inc. raised its holdings in MGM Resorts International by 4.4% in the third quarter. PNC Financial Services Group Inc. now owns 41,526 shares of the company’s stock worth $1,526,000 after purchasing an additional 1,747 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in MGM Resorts International by 25.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 62,664 shares of the company’s stock worth $2,291,000 after buying an additional 12,770 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new position in shares of MGM Resorts International in the third quarter worth approximately $784,000. Nordea Investment Management AB grew its holdings in shares of MGM Resorts International by 652.0% during the third quarter. Nordea Investment Management AB now owns 107,669 shares of the company’s stock valued at $4,005,000 after buying an additional 93,352 shares during the last quarter. Finally, FMR LLC grew its holdings in shares of MGM Resorts International by 0.5% during the third quarter. FMR LLC now owns 1,963,747 shares of the company’s stock valued at $72,187,000 after buying an additional 9,806 shares during the last quarter. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Insider Buying and Selling

In other MGM Resorts International news, Director Keith A. Meister sold 139,300 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $40.44, for a total value of $5,633,292.00. Following the completion of the sale, the director now owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Keith A. Meister sold 139,300 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the completion of the sale, the director now directly owns 5,859,478 shares of the company’s stock, valued at approximately $236,957,290.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alexis Herman sold 4,344 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $41.50, for a total value of $180,276.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,988 shares of company stock valued at $5,991,759. Company insiders own 2.13% of the company’s stock.

MGM Resorts International Trading Up 0.3 %

MGM opened at $40.53 on Thursday. The firm has a market cap of $12.71 billion, a P/E ratio of 15.59, a P/E/G ratio of 0.88 and a beta of 2.24. MGM Resorts International has a 12 month low of $34.12 and a 12 month high of $51.35. The stock has a 50-day moving average of $40.89 and a 200 day moving average of $42.81. The company has a current ratio of 1.51, a quick ratio of 1.46 and a debt-to-equity ratio of 1.56.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.18. MGM Resorts International had a return on equity of 23.62% and a net margin of 5.35%. The company had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same period last year, the company earned $0.44 earnings per share. MGM Resorts International’s revenue was up 13.2% on a year-over-year basis. As a group, research analysts forecast that MGM Resorts International will post 2.9 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MGM shares. Morgan Stanley upped their price objective on MGM Resorts International from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Tuesday, April 9th. StockNews.com downgraded MGM Resorts International from a “buy” rating to a “hold” rating in a report on Friday, May 10th. JPMorgan Chase & Co. upped their target price on shares of MGM Resorts International from $54.00 to $57.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. JMP Securities lifted their price target on shares of MGM Resorts International from $57.00 to $58.00 and gave the stock a “market outperform” rating in a research note on Monday, May 6th. Finally, Barclays boosted their price objective on shares of MGM Resorts International from $55.00 to $56.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, MGM Resorts International has a consensus rating of “Moderate Buy” and an average target price of $54.83.

MGM Resorts International Company 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.