Calamos Advisors LLC Sells 2,461 Shares of MGM Resorts International (NYSE:MGM)

Calamos Advisors LLC reduced its holdings in shares of MGM Resorts International (NYSE:MGM) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 188,354 shares of the company’s stock after selling 2,461 shares during the quarter. Calamos Advisors LLC owned approximately 0.06% of MGM Resorts International worth $8,416,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Tyler Stone Wealth Management purchased a new stake in MGM Resorts International in the second quarter worth $26,000. CVA Family Office LLC purchased a new stake in MGM Resorts International in the fourth quarter worth $28,000. VitalStone Financial LLC increased its position in MGM Resorts International by 108.9% in the first quarter. VitalStone Financial LLC now owns 729 shares of the company’s stock worth $33,000 after buying an additional 380 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in MGM Resorts International in the third quarter worth $28,000. Finally, Clear Street Markets LLC increased its position in MGM Resorts International by 140.9% in the first quarter. Clear Street Markets LLC now owns 819 shares of the company’s stock worth $36,000 after buying an additional 479 shares during the last quarter. 68.11% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 325,000 shares of MGM Resorts International stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $42.90, for a total transaction of $13,942,500.00. Following the completion of the sale, the director now owns 6,098,778 shares of the company’s stock, valued at $261,637,576.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.13% of the company’s stock.

MGM Resorts International Price Performance

NYSE:MGM opened at $42.42 on Friday. The firm has a market capitalization of $13.45 billion, a price-to-earnings ratio of 13.38, a P/E/G ratio of 1.73 and a beta of 2.19. MGM Resorts International has a 52-week low of $34.12 and a 52-week high of $51.35. The stock has a fifty day moving average of $43.91 and a 200 day moving average of $41.90. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.53 and a current ratio of 1.57.

MGM Resorts International (NYSE:MGM) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $1.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.39. MGM Resorts International had a return on equity of 20.51% and a net margin of 7.07%. The firm had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the previous year, the company posted $0.69 earnings per share. The company’s revenue was up 21.8% compared to the same quarter last year. On average, research analysts expect that MGM Resorts International will post 2.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MGM has been the subject of a number of recent research reports. Morgan Stanley raised their target price on MGM Resorts International from $45.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 9th. Barclays reduced their price target on MGM Resorts International from $57.00 to $55.00 and set an “overweight” rating for the company in a research report on Wednesday, February 14th. TheStreet upgraded MGM Resorts International from a “c+” rating to a “b-” rating in a research report on Tuesday, February 13th. Deutsche Bank Aktiengesellschaft lifted their price target on MGM Resorts International from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, Macquarie reiterated an “outperform” rating and issued a $58.00 price target on shares of MGM Resorts International in a research report on Wednesday, February 14th. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $55.34.

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.