Helikon Investments Ltd Sells 497,488 Shares of MGM Resorts International $MGM

Helikon Investments Ltd trimmed its stake in shares of MGM Resorts International (NYSE:MGM) by 14.3% in the fourth quarter, Holdings Channel reports. The fund owned 2,988,773 shares of the company’s stock after selling 497,488 shares during the period. MGM Resorts International accounts for about 5.8% of Helikon Investments Ltd’s portfolio, making the stock its 5th biggest position. Helikon Investments Ltd’s holdings in MGM Resorts International were worth $109,060,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Davis Selected Advisers lifted its holdings in shares of MGM Resorts International by 12.0% during the fourth quarter. Davis Selected Advisers now owns 26,820,202 shares of the company’s stock worth $978,669,000 after purchasing an additional 2,866,750 shares during the period. Vanguard Group Inc. raised its position in MGM Resorts International by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 23,782,004 shares of the company’s stock worth $867,805,000 after buying an additional 205,127 shares during the last quarter. AQR Capital Management LLC raised its position in MGM Resorts International by 202.5% during the 3rd quarter. AQR Capital Management LLC now owns 8,446,982 shares of the company’s stock worth $292,772,000 after buying an additional 5,654,757 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of MGM Resorts International by 81.4% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 7,642,060 shares of the company’s stock worth $264,874,000 after acquiring an additional 3,429,946 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of MGM Resorts International by 3.4% in the third quarter. Invesco Ltd. now owns 5,940,465 shares of the company’s stock valued at $205,897,000 after acquiring an additional 194,114 shares in the last quarter. Institutional investors and hedge funds own 68.11% of the company’s stock.

Insider Buying and Selling at MGM Resorts International

In other news, major shareholder Iac Inc. purchased 450,000 shares of the business’s stock in a transaction dated Tuesday, March 24th. The stock was acquired at an average price of $37.13 per share, with a total value of $16,708,500.00. Following the purchase, the insider directly owned 66,822,350 shares of the company’s stock, valued at $2,481,113,855.50. This represents a 0.68% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Keith A. Meister sold 37,500 shares of the business’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the completion of the sale, the director owned 5,347,978 shares in the company, valued at $183,275,206.06. This represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 3.38% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Mizuho reduced their price objective on shares of MGM Resorts International from $62.00 to $59.00 and set an “outperform” rating for the company in a research report on Monday, April 27th. UBS Group reduced their price target on MGM Resorts International from $40.00 to $39.00 and set a “neutral” rating for the company in a report on Friday, April 10th. The Goldman Sachs Group lifted their price target on MGM Resorts International from $34.00 to $38.00 and gave the company a “sell” rating in a research note on Thursday, April 30th. JPMorgan Chase & Co. dropped their price objective on MGM Resorts International from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Thursday, April 30th. Finally, Morgan Stanley increased their price objective on MGM Resorts International from $34.00 to $35.00 and gave the stock an “underweight” rating in a research report on Wednesday, April 8th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, eight have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $47.12.

MGM Resorts International Price Performance

MGM stock opened at $36.93 on Friday. The firm has a 50 day moving average of $37.43 and a 200-day moving average of $35.74. The company has a market cap of $9.45 billion, a price-to-earnings ratio of 51.30 and a beta of 1.28. The company has a current ratio of 1.33, a quick ratio of 1.30 and a debt-to-equity ratio of 1.93. MGM Resorts International has a 12-month low of $29.18 and a 12-month high of $40.94.

MGM Resorts International (NYSE:MGM) last released its quarterly earnings results on Wednesday, April 29th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). MGM Resorts International had a return on equity of 24.43% and a net margin of 1.03%.The firm had revenue of $4.45 billion during the quarter, compared to analyst estimates of $4.37 billion. During the same quarter in the prior year, the company earned $0.69 EPS. The business’s revenue was up 4.2% on a year-over-year basis. As a group, equities analysts expect that MGM Resorts International will post 1.99 EPS for the current fiscal year.

About MGM Resorts International

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.