Janus Henderson Group PLC Has $993,000 Holdings in MGM Resorts International (NYSE:MGM)

Janus Henderson Group PLC lowered its stake in shares of MGM Resorts International (NYSE:MGM - Free Report) by 30.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,649 shares of the company's stock after selling 12,552 shares during the period. Janus Henderson Group PLC's holdings in MGM Resorts International were worth $993,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ArrowMark Colorado Holdings LLC raised its stake in shares of MGM Resorts International by 42.8% during the 4th quarter. ArrowMark Colorado Holdings LLC now owns 937,175 shares of the company's stock worth $32,473,000 after purchasing an additional 280,700 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in MGM Resorts International by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,283,110 shares of the company's stock valued at $79,110,000 after acquiring an additional 38,749 shares during the period. Korea Investment CORP raised its stake in MGM Resorts International by 964.3% in the 4th quarter. Korea Investment CORP now owns 145,287 shares of the company's stock valued at $5,034,000 after acquiring an additional 131,636 shares during the period. ACR Alpine Capital Research LLC raised its stake in MGM Resorts International by 23.3% in the 4th quarter. ACR Alpine Capital Research LLC now owns 161,990 shares of the company's stock valued at $5,613,000 after acquiring an additional 30,605 shares during the period. Finally, Davis Selected Advisers raised its stake in MGM Resorts International by 4.6% in the 4th quarter. Davis Selected Advisers now owns 19,920,713 shares of the company's stock valued at $690,253,000 after acquiring an additional 882,417 shares during the period. Institutional investors own 68.11% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on MGM shares. Stifel Nicolaus dropped their price target on MGM Resorts International from $50.00 to $44.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Morgan Stanley dropped their price target on MGM Resorts International from $37.00 to $36.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. BTIG Research cut MGM Resorts International from a "buy" rating to a "neutral" rating in a research note on Monday, February 3rd. Citigroup increased their price target on MGM Resorts International from $48.00 to $50.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Finally, Susquehanna Bancshares increased their price target on MGM Resorts International from $53.00 to $56.00 in a research note on Wednesday, February 12th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $48.94.

MGM Resorts International Price Performance

Shares of MGM traded down $0.04 during trading hours on Thursday, hitting $31.76. 797,804 shares of the company were exchanged, compared to its average volume of 5,528,178. The company has a market cap of $8.64 billion, a price-to-earnings ratio of 13.23, a P/E/G ratio of 0.98 and a beta of 1.78. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $47.26. The company has a quick ratio of 1.26, a current ratio of 1.30 and a debt-to-equity ratio of 1.73. The firm's fifty day moving average is $30.91 and its 200 day moving average is $33.52.

MGM Resorts International (NYSE:MGM - Get Free Report) last released its earnings results on Wednesday, April 30th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.19. The company had revenue of $4.28 billion for the quarter, compared to analyst estimates of $4.29 billion. MGM Resorts International had a return on equity of 21.08% and a net margin of 4.33%. MGM Resorts International's quarterly revenue was down 2.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.74 EPS. On average, equities analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

MGM Resorts International announced that its board has authorized a stock repurchase plan on Wednesday, April 30th that allows the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 22.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's leadership believes its stock is undervalued.

Insider Transactions at MGM Resorts International

In related news, Director Daniel J. Taylor sold 5,261 shares of the firm's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $34.93, for a total value of $183,766.73. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Corey Ian Sanders sold 40,000 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $34.43, for a total value of $1,377,200.00. Following the completion of the sale, the chief operating officer now directly owns 281,530 shares in the company, valued at $9,693,077.90. This trade represents a 12.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.06% of the stock is currently owned by insiders.

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.