Thought this was interesting…

Activist investor Keith Meister, who was appointed to MGM’s board of directors in June 2019 after his hedge fund Corvex Management amassed a more than three percent ownership position in the company, invested another $17,605,000 on the final two days in March.

On March 30, Corvex purchased 500,000 MGM shares at $12.02 each for a total buy of $5,665,000. The next day, Meister’s company purchased one million shares at $11.94 for a total buy of $11,940,000.

As of the end of 2019, Corvex Management owned more than 20.93 million shares of MGM, for a 4.25 percent stake. MGM shares are trading today around $11.50. In mid-January, the company stock was trading higher than $33.

Meister Mentor

Meister is one of the more well-known activist investors in the US today. Much of that is from his learning from billionaire Carl Icahn.

From 2003 to 2010, Meister was the CEO and principal executive officer and vice chairman of the board of Icahn Enterprises. He took Icahn’s aggressive investing philosophy with him when he launched his own company in 2010 with $250 million in seed money from billionaire George Soros.

https://www.casino.org/news/mgm-resorts-sagging-stock-attracts-activist-investor-keith-meister/