MGM Resorts International (MGM) Position Trimmed by Janus Henderson Group PLC
Janus Henderson Group PLC decreased its position in shares of MGM Resorts International (NYSE:MGM) by 63.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 206,407 shares of the company’s stock after selling 354,526 shares during the quarter. Janus Henderson Group PLC’s holdings in MGM Resorts International were worth $5,993,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Suntrust Banks Inc. raised its holdings in MGM Resorts International by 12.3% during the 1st quarter. Suntrust Banks Inc. now owns 15,689 shares of the company’s stock worth $548,000 after buying an additional 1,723 shares during the period. Fagan Associates Inc. raised its holdings in MGM Resorts International by 4.3% during the 2nd quarter. Fagan Associates Inc. now owns 44,320 shares of the company’s stock worth $1,287,000 after buying an additional 1,840 shares during the period. Elk Creek Partners LLC raised its holdings in MGM Resorts International by 17.1% during the 1st quarter. Elk Creek Partners LLC now owns 15,568 shares of the company’s stock worth $545,000 after buying an additional 2,274 shares during the period. Redpoint Investment Management Pty Ltd raised its holdings in MGM Resorts International by 26.3% during the 2nd quarter. Redpoint Investment Management Pty Ltd now owns 11,087 shares of the company’s stock worth $322,000 after buying an additional 2,308 shares during the period. Finally, Commonwealth Equity Services LLC raised its holdings in MGM Resorts International by 5.5% during the 2nd quarter. Commonwealth Equity Services LLC now owns 48,888 shares of the company’s stock worth $1,419,000 after buying an additional 2,559 shares during the period. 79.76% of the stock is currently owned by institutional investors and hedge funds.
NYSE MGM opened at $27.59 on Wednesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 0.64 and a current ratio of 0.68. MGM Resorts International has a 12-month low of $26.31 and a 12-month high of $38.41. The company has a market capitalization of $14.89 billion, a PE ratio of 27.05, a price-to-earnings-growth ratio of 3.56 and a beta of 1.45.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Monday, September 10th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, September 7th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.74%. MGM Resorts International’s dividend payout ratio (DPR) is presently 47.06%.
In other news, Director Alexis Herman sold 1,750 shares of MGM Resorts International stock in a transaction that occurred on Thursday, August 16th. The shares were sold at an average price of $28.28, for a total value of $49,490.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Daniel D’arrigo sold 29,377 shares of MGM Resorts International stock in a transaction that occurred on Friday, August 31st. The shares were sold at an average price of $29.23, for a total transaction of $858,689.71. Following the completion of the sale, the chief financial officer now owns 260,676 shares in the company, valued at $7,619,559.48. The disclosure for this sale can be found here. Insiders sold 34,627 shares of company stock worth $1,009,155 over the last quarter. 0.43% of the stock is owned by corporate insiders.
MGM has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of MGM Resorts International from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 8th. Morgan Stanley dropped their target price on shares of MGM Resorts International from $38.00 to $34.00 and set a “buy” rating on the stock in a report on Friday, August 3rd. Jefferies Financial Group restated a “buy” rating on shares of MGM Resorts International in a report on Wednesday, August 1st. Credit Suisse Group initiated coverage on shares of MGM Resorts International in a report on Tuesday, August 14th. They set a “neutral” rating and a $31.00 target price on the stock. Finally, Stifel Nicolaus restated a “hold” rating and set a $33.00 target price (down from $37.00) on shares of MGM Resorts International in a report on Friday, August 3rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. MGM Resorts International presently has an average rating of “Buy” and an average target price of $37.14.
About MGM Resorts International
MGM Resorts International, through its subsidiaries, owns and operates integrated casino, hotel, and entertainment resorts in the United States and China. The company operates through two segments, Domestic Resorts and MGM China. Its casino resorts offer gaming, hotel, convention, dining, entertainment, retail, and other resort amenities.
Further Reading: Exchange-Traded Funds (ETFs)
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