MGM Resorts International Inc. (MGM), better known as MGM, operates casino, hotel, and entertainment resorts in the U.S. and Macau through subsidiaries. The company's properties include The Mirage, Bellagio, Luxor, Park MGM, Gold Strike Tunica, Borgata, and others. MGM temporarily closed its domestic properties in March 2020 as a result of the COVID-19 pandemic. The company has gradually re-opened properties while engaging in aggressive cost reduction efforts in recent months.
The top individual shareholders of MGM are Corey Ian Sanders, William Joseph Hornbuckle, and John M. McManus, and the top institutional shareholders are IAC/InterActiveCorp., Vanguard Group Inc., and BlackRock Inc. (BLK).
MGM's financials have been severely impacted by the ongoing COVID-19 pandemic. The company has posted 12-month trailing net income of -$1.0 billion and revenue over the same period of $5.2 billion. The current market capitalization of MGM as of April 14, 2021 is $20.5 billion.
"Insider" refers to people in senior management positions and members of the board of directors, as well as people or entities that own more than 10% of the company's stock. In this context, it has nothing to do with insider trading.
Top 3 Individual Insider Shareholders
Below are the top 3 individual insider shareholders of MGM. Note that this list reflects only direct ownership and does not include indirect ownership of shares or shares accessible through stock options.
Corey Ian Sanders
Corey Ian Sanders owns 406,980 shares of MGM, representing about 0.08% of all outstanding shares. Sanders is chief operating officer (COO) and oversees MGM's Las Vegas properties, among others, as well as various corporate operations, including Hospitality, Gaming, Design and Construction, and Strategic Initiatives. Prior to this appointment, Sanders was treasurer and chief financial officer, and held multiple executive leadership positions with individual MGM properties and divisions.
William Joseph Hornbuckle
William Joseph Hornbuckle owns 224,748 shares of MGM, representing about 0.05% of all outstanding shares. Hornbuckle is president and chief executive officer (CEO) of MGM. He oversees all aspects of MGM's strategy, operations and hospitality and gaming development, and leads the company's expansion efforts. He was appointed president in 2012 and CEO in 2019, after previously holding additional executive leadership positions over two decades with MGM. Hornbuckle is a director of MGM and is chairman of the boards of MGM China Holdings and of CityCenter JV, which is a joint venture with Dubai World.
John M. McManus
John M. McManus owns 39,985 shares of MGM, representing 0.01% of all outstanding shares. McManus is executive vice president, general counsel, and secretary for MGM. He oversees legal and government affairs, corporate communications, corporate security, risk management and compliance. He has worked in series of other legal positions since joining MGM in 2001. Prior to MGM, he was executive vice president, general counsel, and secretary for Sahara Hotel & Casino.
Top 3 Institutional Shareholders
More than 550 institutional 13F filers own shares of MGM, with 8 of these including MGM as a top 10 holding. Institutional investors own about 64.5% of MGM shares outstanding.
IAC/InterActiveCorp. (IAC) owns roughly 59 million shares of MGM, representing about 11.9% of outstanding shares, according to the company's 13D filing from Jan. 8, 2021. IAC/InterActiveCorp (Dotdash, including Investopedia.com, is a wholly-owned business of IAC/InteractiveCorp) is a media holding company that, through its subsidiaries, provides media and Internet services. In August 2020, IAC/InterActiveCorp. announced that it had accumulated a 12% stake in MGM, valued at $1 billion, following the separation of Match Group from IAC.
Vanguard Group Inc.
Vanguard Group owns 43.4 million shares of MGM, representing 8.8% of total shares outstanding, according to the company's 13F filing for the period ending Dec. 31, 2020. The company is primarily a mutual fund and ETF management company with about $6.2 trillion in global assets under management (AUM). The Vanguard Mid-Cap Value ETF (VOE) is one of several Vanguard funds that holds MGM shares. MGM accounts for about 0.5% of the fund's portfolio.
BlackRock owns 28.4 million shares of MGM, representing 5.7% of total shares outstanding, according to the company's 13F filing for the period ending Dec. 31, 2020. The company is primarily a mutual fund and ETF management company with approximately $8.7 trillion in AUM. The iShares U.S. Consumer Services ETF (IYC) holds MGM shares. MGM comprises about 0.4% of the fund's portfolio.