Janus Henderson Group PLC Sells 12,552 Shares of MGM Resorts International (NYSE:MGM)

Janus Henderson Group PLC lessened its position in MGM Resorts International (NYSE:MGM - Free Report) by 30.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 and hedge funds have also recently modified their holdings of the company. Assetmark Inc. increased its holdings 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 purchasing an additional 411 shares during the period. Global Retirement Partners LLC increased its holdings in MGM Resorts International by 47.8% during the 4th quarter. Global Retirement Partners LLC now owns 1,250 shares of the company's stock worth $43,000 after purchasing an additional 404 shares during the period. Quarry LP increased its holdings in MGM Resorts International by 750.6% during the 4th quarter. Quarry LP now owns 1,446 shares of the company's stock worth $50,000 after purchasing an additional 1,276 shares during the period. EverSource Wealth Advisors LLC boosted its position 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 acquiring an additional 633 shares in the last quarter. Finally, Investment Counsel Co. of Nevada acquired a new position 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.

Insider Buying and Selling at MGM Resorts International

In other MGM Resorts International news, COO Corey Ian Sanders sold 40,000 shares of the business's stock in a transaction dated Monday, May 12th. The stock was 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jonathan S. Halkyard acquired 10,000 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was acquired at an average price of $32.17 per share, for a total transaction of $321,700.00. Following the completion of the purchase, the chief financial officer now directly owns 75,648 shares of the company's stock, valued at $2,433,596.16. This trade represents a 15.23% increase in their position. The disclosure for this purchase can be found here. 3.06% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently issued reports on MGM. Needham & Company LLC reaffirmed a "buy" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. Stifel Nicolaus lowered their price objective on MGM Resorts International from $50.00 to $44.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Canaccord Genuity Group reissued a "buy" rating on shares of MGM Resorts International in a research report on Thursday, February 13th. BTIG Research cut MGM Resorts International from a "buy" rating to a "neutral" rating in a research report on Monday, February 3rd. Finally, Morgan Stanley decreased their target price on MGM Resorts International from $37.00 to $36.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, MGM Resorts International currently has a consensus rating of "Moderate Buy" and an average price target of $48.94.

MGM Resorts International Stock Down 0.4%

Shares of NYSE:MGM traded down $0.12 during trading on Wednesday, hitting $31.87. The company's stock had a trading volume of 1,661,062 shares, compared to its average volume of 4,755,967. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.26 and a current ratio of 1.30. MGM Resorts International has a fifty-two week low of $25.30 and a fifty-two week high of $47.26. The stock's 50-day moving average price is $30.90 and its two-hundred day moving average price is $33.53. The company has a market capitalization of $8.67 billion, a PE ratio of 13.29, a PEG ratio of 0.98 and a beta of 1.78.

MGM Resorts International (NYSE:MGM - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.50 by $0.19. The company had revenue of $4.28 billion during 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%. The business's revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 EPS. As a group, sell-side analysts expect that MGM Resorts International will post 2.21 EPS for the current year.

MGM Resorts International declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 30th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 22.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its stock is undervalued.

MGM Resorts International 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.