Director Salem Paul J bought 147,500 shares ($5.0M) at $33.80; 3-insider cluster buy within 14 days amid -17.8% 30-day price slide.
Director Salem Paul J purchased 147,500 shares at $33.80 on 2024-08-05, increasing holdings by 9.5% to 1,702,500 shares total with a transaction value of $4,986,090.00. This buy occurs as part of a cluster pattern with 2 other insiders also purchasing within the past 14 days, suggesting coordinated directional conviction at multiple levels of the organization. The purchase occurred against a backdrop of significant recent price deterioration: the stock has declined 17.8% over 30 days and 11.6% over 90 days, trading 28.1% below its 52-week high, while MGM's fundamentals remain relatively stable with FY annual revenue growth of 23.1%, a P/E of 12.25, and trailing quarterly revenue of $4,327,375,000.00. The alignment of multiple insider purchases during a period of marked price weakness combined with solid underlying revenue growth warrants investor attention to the insider perspective on current valuation.