MGM Resorts International $MGM Shares Sold by Helikon Investments Ltd

Helikon Investments Ltd cut its position in MGM Resorts International (NYSE:MGM) by 60.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,486,261 shares of the company’s stock after selling 5,324,061 shares during the quarter. MGM Resorts International comprises about 8.3% of Helikon Investments Ltd’s portfolio, making the stock its 5th largest holding. Helikon Investments Ltd’s holdings in MGM Resorts International were worth $120,834,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Corient Private Wealth LLC lifted its holdings in MGM Resorts International by 356.6% during the second quarter. Corient Private Wealth LLC now owns 528,526 shares of the company’s stock worth $18,176,000 after acquiring an additional 412,767 shares in the last quarter. American Assets Inc. increased its holdings in shares of MGM Resorts International by 66.7% in the second quarter. American Assets Inc. now owns 30,000 shares of the company’s stock worth $950,000 after acquiring an additional 12,000 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of MGM Resorts International by 109.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 129,115 shares of the company’s stock worth $4,276,000 after purchasing an additional 67,542 shares during the period. WINTON GROUP Ltd bought a new position in shares of MGM Resorts International during the 2nd quarter valued at about $6,351,000. Finally, Permanent Capital Management LP bought a new position in shares of MGM Resorts International during the 3rd quarter valued at about $738,000. 68.11% of the stock is owned by institutional investors.

Insider Activity at MGM Resorts International

In related news, major shareholder Iac Inc. acquired 1,098,748 shares of the firm’s stock in a transaction dated Friday, December 5th. The stock was bought at an average price of $36.30 per share, for a total transaction of $39,884,552.40. Following the acquisition, the insider directly owned 65,822,350 shares of the company’s stock, valued at approximately $2,389,351,305. The trade was a 1.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.06% of the stock is currently owned by corporate insiders.

MGM Resorts International Price Performance

NYSE MGM opened at $36.84 on Monday. The firm’s 50 day moving average is $35.58 and its 200-day moving average is $34.92. The company has a quick ratio of 1.20, a current ratio of 1.23 and a debt-to-equity ratio of 1.91. The company has a market capitalization of $9.42 billion, a PE ratio of 49.12 and a beta of 1.44. MGM Resorts International has a 12-month low of $25.30 and a 12-month high of $40.16.

MGM Resorts International (NYSE:MGM) last announced its earnings results on Wednesday, February 4th. The company reported $1.60 EPS for the quarter, topping the consensus estimate of $0.64 by $0.96. MGM Resorts International had a net margin of 1.17% and a return on equity of 26.04%. The business had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.42 billion. During the same quarter in the prior year, the company posted $0.45 earnings per share. Equities research analysts anticipate that MGM Resorts International will post 2.21 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MGM has been the subject of a number of research reports. The Goldman Sachs Group reissued a “sell” rating and set a $33.00 target price on shares of MGM Resorts International in a research note on Monday, December 15th. Morgan Stanley reiterated an “underweight” rating and issued a $34.00 price target on shares of MGM Resorts International in a report on Wednesday, February 11th. Stifel Nicolaus raised their price objective on shares of MGM Resorts International from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Texas Capital raised shares of MGM Resorts International to a “strong-buy” rating in a research report on Thursday, January 8th. Finally, Truist Financial upped their target price on shares of MGM Resorts International from $38.00 to $39.00 and gave the stock a “hold” rating in a research note on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seven have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, MGM Resorts International currently has an average rating of “Hold” and an average target price of $41.94.

MGM Resorts International Company Profile

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.