MGM Resorts International (NYSE:MGM) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC lessened its stake in shares of MGM Resorts International (NYSE:MGM - Free Report) by 30.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,649 shares of the company's stock after selling 12,552 shares during the quarter. Janus Henderson Group PLC's holdings in MGM Resorts International were worth $993,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Assetmark Inc. raised its position in MGM Resorts International by 104.1% during the 4th quarter. Assetmark Inc. now owns 806 shares of the company's stock worth $28,000 after buying an additional 411 shares during the last quarter. Global Retirement Partners LLC grew its stake in MGM Resorts International by 47.8% in the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock valued at $43,000 after acquiring an additional 404 shares during the last quarter. Quarry LP grew its stake in MGM Resorts International by 750.6% in the 4th quarter. Quarry LP now owns 1,446 shares of the company's stock valued at $50,000 after acquiring an additional 1,276 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of MGM Resorts International by 74.9% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,478 shares of the company's stock worth $51,000 after purchasing an additional 633 shares during the last quarter. Finally, Investment Counsel Co. of Nevada acquired a new stake in shares of MGM Resorts International during the 4th quarter worth about $54,000. Hedge funds and other institutional investors own 68.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on MGM shares. Canaccord Genuity Group reaffirmed a "buy" rating on shares of MGM Resorts International in a research note on Thursday, February 13th. Wall Street Zen upgraded shares of MGM Resorts International from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Barclays increased their price objective on shares of MGM Resorts International from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Thursday, May 1st. Macquarie cut their price objective on shares of MGM Resorts International from $50.00 to $48.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Finally, Leerink Partners lowered shares of MGM Resorts International to a "market perform" rating in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $48.94.

MGM Resorts International Stock Up 2.0%

NYSE:MGM traded up $0.63 on Tuesday, reaching $31.98. The stock had a trading volume of 4,069,721 shares, compared to its average volume of 4,767,720. The company has a current ratio of 1.30, a quick ratio of 1.26 and a debt-to-equity ratio of 1.73. The company has a 50-day moving average of $30.91 and a 200 day moving average of $33.54. The stock has a market cap of $8.70 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 0.98 and a beta of 1.78. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $47.26.

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

MGM Resorts International declared that its board has approved a share repurchase program on Wednesday, April 30th that allows the company to repurchase $2.00 billion in shares. This repurchase authorization allows the company to reacquire up to 22.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, COO Corey Ian Sanders sold 40,000 shares of MGM Resorts International stock in a transaction on 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 transaction, the chief operating officer now owns 281,530 shares of the company's stock, valued at $9,693,077.90. The trade was a 12.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost of $32.17 per share, with a total value of $321,700.00. Following the acquisition, the chief financial officer now owns 75,648 shares of the company's stock, valued at $2,433,596.16. This trade represents a 15.23% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 3.06% of the company's stock.

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.