Gabelli Funds Reduces Stake in MGM Resorts

Institutional investor trims holding in casino operator by 11.3% in Q3

Published on Mar. 9, 2026

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Gabelli Funds LLC, an institutional investor, reduced its position in MGM Resorts International (NYSE: MGM) by 11.3% during the third quarter, according to a recent SEC filing. The fund now owns 238,500 shares of the casino company's stock, worth approximately $8.27 million.

Why it matters

MGM Resorts is one of the largest casino and hospitality companies in the world, operating iconic properties like the MGM Grand in Las Vegas. Institutional investors closely watch changes in ownership of major companies like MGM, as it can signal broader market trends or shifts in investor sentiment.

The details

According to the SEC filing, Gabelli Funds sold 30,300 shares of MGM Resorts during the third quarter, reducing its total stake to 238,500 shares. The institutional investor now owns about 0.09% of MGM's outstanding shares. The filing did not provide specific reasons for Gabelli's decision to trim its MGM position.

  • Gabelli Funds reduced its MGM Resorts stake during the third quarter of 2026.

The players

Gabelli Funds LLC

An institutional investment management firm that owns stakes in various public companies.

MGM Resorts International

A leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos.

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The takeaway

The reduction in Gabelli's MGM Resorts stake, while relatively small, could signal broader caution among institutional investors about the casino industry's outlook. However, MGM remains a major player in the gaming and hospitality space, and its long-term performance will depend on factors like consumer spending, tourism trends, and the company's ability to innovate and adapt.