Janus Henderson Group PLC Sells 2,500 Shares of MGM Resorts International (NYSE:MGM)

Janus Henderson Group PLC cut its position in MGM Resorts International (NYSE:MGM) by 5.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,201 shares of the company’s stock after selling 2,500 shares during the period. Janus Henderson Group PLC’s holdings in MGM Resorts International were worth $1,610,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in MGM. International Assets Investment Management LLC acquired a new position in shares of MGM Resorts International during the 2nd quarter worth about $28,000. MidAtlantic Capital Management Inc. bought a new position in MGM Resorts International during the 3rd quarter worth $28,000. Eastern Bank acquired a new position in MGM Resorts International in the third quarter valued at about $35,000. UMB Bank n.a. raised its position in shares of MGM Resorts International by 33.3% in the 2nd quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after buying an additional 237 shares in the last quarter. Finally, Brooklyn Investment Group acquired a new stake in shares of MGM Resorts International in the 3rd quarter valued at $44,000. 68.11% of the stock is owned by institutional investors and hedge funds.

MGM Resorts International Price Performance

NYSE MGM opened at $36.25 on Friday. The business’s fifty day moving average is $38.37 and its 200 day moving average is $39.36. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.21 and a current ratio of 1.24. MGM Resorts International has a fifty-two week low of $33.44 and a fifty-two week high of $48.24. The company has a market capitalization of $10.79 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 3.16 and a beta of 2.20.

MGM Resorts International (NYSE:MGM) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.04). The company had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.21 billion. MGM Resorts International had a net margin of 5.23% and a return on equity of 25.84%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period last year, the business earned $0.64 earnings per share. Sell-side analysts predict that MGM Resorts International will post 2.48 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Barclays reduced their price target on shares of MGM Resorts International from $50.00 to $46.00 and set an “overweight” rating on the stock in a research note on Friday. Morgan Stanley raised their price target on shares of MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Wells Fargo & Company cut their target price on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, October 17th. Truist Financial reduced their price target on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating for the company in a report on Wednesday, October 23rd. Finally, Mizuho cut their target price on MGM Resorts International from $57.00 to $56.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $52.54.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $36.57, for a total value of $1,865,070.00. Following the completion of the sale, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.13% of the stock is 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.