MGM board member Keith Meister buys $51.7M in shares amid stock dip after earnings report

Keith Meister, a board member of MGM Resorts International, purchased approximately $51.74 million worth of MGM shares between October 30 and November 2, increasing his stake by 32.6%. This insider buying followed a sharp decline in MGM's stock after weaker-than-expected third-quarter earnings, which showed a 20% drop in Adjusted EBITDA and a loss in adjusted earnings per share. Despite challenges in Las Vegas operations, MGM saw growth in its China and digital segments, and the purchase may signal confidence in the company's recovery prospects. However, Meister's exact investment rationale was not disclosed in the filing.

MGM Resorts International shares are trading at USD 32.34 on Pluang as of Nov 08, 2026 19:41 WIB, down 0.61% for the day. This price is closer to the 52-week low of USD 27.27 than the high of USD 50.69, highlighting the stock's recent weakness despite insider buying activity. The market capitalization stands at $8.18 billion, reflecting investor caution following the earnings report.