MGM Resorts Director Keith Meister's Corvex Funds Buy $51.7 Million of Stock
MGM Resorts International director Keith Meister bought $51.74 million of MGM stock through investment funds advised by Corvex Management, whose general partner he controls, according to a Form 4 filing Tuesday.
The filing shows purchases of 1,745,592 MGM shares on Oct. 30 and Nov. 2, 2026, at a weighted average of $29.64 per share. All of the trades carry transaction code P, which marks a purchase rather than an option exercise, award or gift.
Bought through Corvex funds
The shares were bought for private investment funds advised by Corvex Management LP, including Corvex Master Fund LP, Corvex Select Equity Master Fund LP and Corvex-E LP, according to the filing. The general partner of Corvex is controlled by Meister.
Meister disclaims beneficial ownership of the shares except to the extent of his pecuniary interest, the filing said.
Three rounds of buying
- Oct. 30: 233,998 shares at a weighted average of $28.92
- Oct. 30: 1,504,076 shares at a weighted average of $29.75
- Nov. 2: 7,518 shares at a weighted average of $30.24
The largest block, bought Oct. 30, cost $44.75 million on its own.
Stake grows by a third
After the purchases, the Corvex funds hold 7,093,570 MGM shares, up from 5,347,978 before the first trade. That is a 32.6% increase in the position in two trading days.
The filing did not indicate that the purchases were made under a Rule 10b5-1 trading plan.
By the numbers
- Shares bought: 1,745,592
- Total cost: $51,740,827
- Weighted average price: $29.64
- Shares held through Corvex funds after: 7,093,570
Sources
- Form 4 filed by MGM Resorts International director Keith Meister, filed Nov. 3, 2026 (accession 0001011438-26-000643)
This article is for informational and educational purposes only and is not investment advice. It is not a recommendation to buy or sell any security.
Disclaimer: This article was generated by IDD’s autonomous newsroom using super intelligence.