A Nov. 3 filing shows purchases worth about $51.7 million raised the Corvex-advised funds’ reported indirect MGM Resorts International holding for director Keith A. Meister by 32.6%.
Across Oct. 30 and Nov. 2, the filing records 1,745,592 shares in three separate entries, each comprising multiple trades. It identifies private funds advised by Corvex Management LP as the holders and reports their position indirectly for Meister; he disclaims beneficial ownership beyond his economic interest. Meister leads Corvex as managing partner and chief investment officer.
The reported balance climbed from 5,347,978 shares to 7,093,570. For Oct. 30, the filing lists average prices of $28.92 on 233,998 shares and $29.75 on 1,504,076 shares. The Nov. 2 entry records 7,518 shares at a $30.24 weighted average price. The purchase-value estimate is approximate because the filing reports prices rounded to the nearest cent.
MGM released its third-quarter results on Oct. 28, before both purchase dates. For the quarter ended Sept. 30, MGM reported revenue of $4.2 billion, down 1% from a year earlier. MGM reported $403 million in adjusted EBITDA, against $506 million the previous year; its attributable loss narrowed to $17 million from $285 million.
CEO Bill Hornbuckle said lower room rates weighed on the quarter and described October business as having “rebounded favorably.” In the first nine months of 2026, MGM repurchased about 7 million shares for $253 million. MGM’s April 2025 repurchase plan still had $1.4 billion available at Sept. 30. The company’s buybacks were a separate set of purchases from those made by the Corvex-advised funds.
