IAC Inc.

IAC Inc. (10% owner) purchases 1,000,000 shares of MGM at blended average $37.22, expanding stake by 1.5% to 66.82M shares.

IAC Inc., which holds a 10% ownership stake in MGM Resorts, executed two separate purchases totaling 1,000,000 shares for $37,223,500.00 ($37.2M) over March 23–24, 2026, increasing its holdings from 65.82M to 66.82M shares. The timing occurred when MGM was trading near its 52-week high (current $37.49 vs. 52-week peak $39.77) and following a sharp 30-day rally of +9.5%. MGM's fundamentals remain challenged, with negative net income of $-285.3M against $4.3B in quarterly revenue and an elevated P/E of 48.69, suggesting the accumulation reflects a strategic capital deployment by a major shareholder rather than a bet on near-term operational recovery. Prior to this transaction, IAC's single prior MGM trade (December 2025) showed solid 90-day timing with a +2.3% return, establishing a pattern of constructive accumulation at this ticker.

IAC Inc. (10% owner) adds 1,098,748 shares of MGM at $36.30, raising stake to 65.82M shares ($39.9M purchase).

IAC, a 10% shareholder of MGM Resorts, purchased 1,098,748 shares at $36.30 on 2025-12-05, increasing its total holdings from 64,723,602 to 65,822,350 shares. The purchase represents a 1.7% increase in IAC's existing MGM position and valued at $39,884,552.40. The transaction occurred while MGM trades at $35.89—below the purchase price by $0.41—and well below its 52-week high of $40.37 (currently -11.1% from peak). MGM faces headwinds including negative net income of $-285,255,000.00 in the latest quarter despite positive annual revenue growth of +6.7%, and an elevated P/E ratio of 143.56 reflective of depressed earnings. The purchase by a controlling insider at these levels, coupled with MGM's ongoing profitability challenges and valuation metrics, warrants scrutiny of the strategic intent behind this incremental accumulation.