GAMMA Investing LLC Boosts Position in MGM Resorts International (NYSE:MGM)

GAMMA Investing LLC boosted its holdings in shares of MGM Resorts International (NYSE:MGM) by 17.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,450 shares of the company’s stock after buying an additional 1,098 shares during the quarter. GAMMA Investing LLC’s holdings in MGM Resorts International were worth $331,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MGM. EverSource Wealth Advisors LLC grew its stake in shares of MGM Resorts International by 60.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 871 shares of the company’s stock worth $41,000 after purchasing an additional 329 shares during the period. Accent Capital Management LLC acquired a new stake in shares of MGM Resorts International during the 4th quarter worth approximately $45,000. Mendota Financial Group LLC grew its stake in shares of MGM Resorts International by 36.0% during the 1st quarter. Mendota Financial Group LLC now owns 1,004 shares of the company’s stock worth $47,000 after purchasing an additional 266 shares during the period. Sandy Spring Bank grew its stake in shares of MGM Resorts International by 33.7% during the 4th quarter. Sandy Spring Bank now owns 1,143 shares of the company’s stock worth $51,000 after purchasing an additional 288 shares during the period. Finally, RIA Advisory Group LLC acquired a new stake in shares of MGM Resorts International during the 4th quarter worth approximately $83,000. 68.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on MGM shares. BTIG Research started coverage on shares of MGM Resorts International in a research note on Wednesday, July 3rd. They issued a “buy” rating and a $52.00 price target on the stock. Wells Fargo & Company lowered their target price on shares of MGM Resorts International from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Thursday. Macquarie lowered their target price on shares of MGM Resorts International from $58.00 to $55.00 and set an “outperform” rating on the stock in a research note on Friday. Barclays lifted their target price on shares of MGM Resorts International from $55.00 to $56.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, JPMorgan Chase & Co. lifted their target price on shares of MGM Resorts International from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $54.00.

MGM Resorts International Stock Down 4.0 %

NYSE MGM traded down $1.42 during trading hours on Monday, reaching $34.06. 8,767,130 shares of the company traded hands, compared to its average volume of 3,921,951. MGM Resorts International has a 12 month low of $33.45 and a 12 month high of $48.24. The company has a current ratio of 1.47, a quick ratio of 1.46 and a debt-to-equity ratio of 1.65. The stock has a market capitalization of $10.68 billion, a PE ratio of 13.65, a PEG ratio of 0.77 and a beta of 2.24. The company has a 50 day moving average of $42.03 and a two-hundred day moving average of $42.75.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings data on Wednesday, July 31st. The company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.20. MGM Resorts International had a net margin of 5.15% and a return on equity of 26.36%. The business had revenue of $4.33 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter last year, the company earned $0.59 EPS. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, equities analysts expect that MGM Resorts International will post 3 earnings per share for the current year.

Insiders Place Their Bets

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 shares were sold at an average price of $40.44, for a total transaction of $5,633,292.00. Following the transaction, 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 is available through this hyperlink. In other news, Director Keith A. Meister sold 139,300 shares of MGM Resorts International stock in a transaction that occurred on 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 transaction, the director now owns 5,859,478 shares of the company’s stock, valued at $236,957,290.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Daniel J. Taylor sold 4,344 shares of MGM Resorts International stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $41.02, for a total transaction of $178,190.88. Following the completion of the transaction, the director now directly owns 5,250 shares in the company, valued at approximately $215,355. The disclosure for this sale can be found here. Insiders sold a total of 147,988 shares of company stock worth $5,991,759 over the last ninety days. 2.13% of the stock is currently owned by company insiders.

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.