MGM Resorts International (NYSE:MGM) saw an insider lower his holdings in the company today. The Chief Design and Construction Officer Robert Baldwin disposed of 1,574 shares of common stock at an average of $22.13 per share. Following this move, Baldwin holds 56,491 shares directly. A $10.85 billion market cap corporation, MGM Resorts International (NYSE:MGM) is a hospitality company. The Company’s primary business is the ownership and operation of casino resorts, which includes offering gaming, hotel, convention, dining, entertainment, retail and other resort amenities. The Company operates 15 wholly owned resorts in the United States and these resorts offer gaming, hotel, convention, dining, entertainment, retail and other resort amenities.
In addition, among the institutional investors involved in the company is D E Shaw, the fund run by billionaire D.E. Shaw. After lowering its holdings by 6% last quarter, the fund holds around 11.1 million shares worth about $294.5 million.
Disclosure: The author, Daniel Forstein, holds no positions in any stocks mentioned.