Janus Henderson Group PLC Trims Stock Holdings in MGM Resorts International (NYSE:MGM)

Janus Henderson Group PLC cut its holdings in shares of MGM Resorts International (NYSE:MGM) by 5.7% in the third quarter, HoldingsChannel reports. 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in MGM Resorts International during the second quarter valued at $28,000. MidAtlantic Capital Management Inc. acquired a new position in MGM Resorts International in the 3rd quarter valued at $28,000. Eastern Bank purchased a new position in shares of MGM Resorts International in the third quarter worth about $35,000. UMB Bank n.a. increased its holdings in shares of MGM Resorts International by 33.3% in the second quarter. UMB Bank n.a. now owns 949 shares of the company’s stock valued at $42,000 after purchasing an additional 237 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of MGM Resorts International during the 3rd quarter worth $44,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.

Insider Transactions at MGM Resorts International

In other MGM Resorts International news, Director Keith A. Meister sold 51,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $36.57, for a total value of $1,865,070.00. Following the transaction, the director now directly owns 5,687,478 shares of the company’s stock, valued at $207,991,070.46. This represents a 0.89 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.13% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MGM has been the subject of a number of research analyst reports. Wells Fargo & Company lowered their price target on MGM Resorts International from $53.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, October 17th. Truist Financial cut their price objective on shares of MGM Resorts International from $58.00 to $56.00 and set a “buy” rating on the stock in a report on Wednesday, October 23rd. Morgan Stanley raised their price objective on MGM Resorts International from $43.00 to $44.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. JMP Securities decreased their price target on shares of MGM Resorts International from $54.00 to $50.00 and set a “market outperform” rating for the company in a research note on Monday, November 25th. Finally, UBS Group raised MGM Resorts International to a “hold” rating in a report on Friday, August 23rd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.54.

MGM Resorts International Price Performance

Shares of NYSE MGM opened at $36.25 on Friday. The firm’s 50-day simple moving average is $38.37 and its 200 day simple moving average is $39.36. The stock has a market cap of $10.79 billion, a P/E ratio of 12.95, a P/E/G ratio of 3.16 and a beta of 2.20. 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 quick ratio of 1.21, a current ratio of 1.24 and a debt-to-equity ratio of 1.63.

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 the consensus estimate of $0.58 by ($0.04). The business had revenue of $4.18 billion during the quarter, compared to analyst estimates of $4.21 billion. MGM Resorts International had a return on equity of 25.84% and a net margin of 5.23%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.64 EPS. Equities analysts expect that MGM Resorts International will post 2.48 EPS for the current year.

MGM Resorts International Company 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.