Monster $52 million insider trading alert for this casino stock

MGM Resorts International (NYSE: MGM ) has recorded a major insider stock purchase after board member Keith Meister acquired millions of dollars’ worth of the casino operator’s shares. According to a Form 4 filing with the Securities and Exchange Commission (SEC) on November 3, Meister reported purchasing 1,745,592 MGM shares in three transactions between October 30 and November 2. The purchases totalled approximately $51.74 million at a weighted average price of $29.64 per share, increasing the reported position from 5,347,978 to 7,093,570 shares, a 32.6% increase.