What Was Going On With MGM Resorts In September?

Via Disobedient Media

On Tuesday, September 5th, 2017,  the board of MGM Resorts International decided to approve a $1 billion share repurchase program. At $17.7 billion today, the program represented a significant portion of its current market cap. By the end of the week, MGM's CEO, James Murren, had coolly divested himself of 80% of the shares he owned in his company. The divestment came just days before the ex-dividend date on September 8th, 2017.

The sales were originally disclosed in a document filed with the Securities and Exchange Commission (SEC). Murren had previously divested 57,269 shares on July 31st and August 9th, 2017.

It's currently unclear why Murren chose to sell when he did. To date, MGM's stock has not experienced a significant decline in value due to the repurchasing program. It could be interpreted to run against the company's interests for the CEO to convey a sense of urgency in the selling of his shares by disposing of them immediately after the commencement of his company's share repurchase program. It's also strange that the CEO of a company would sell more than half of their stake (let alone 80%) in the company that they represented.

Mr. Murren and his fellow board members were not the only speculators who were bearish on MGM's prospects. Billionaire investor George Soros also bought $42 million worth of puts on the company, according to SEC filings from mid August.

That point being made, it needs to be asked why any profit-oriented CEO of any company would sell 80% of his personal stake in his own corporation, especially after he thought it was in the business' best interest to initiate a massive share repurchase program which one would theoretically assume to reduce the number of shares in the company and increase the price of each share, ceteris peribus. Why would the individual with the most information about the company sell 80% of his shares immediately after the commencement of a program that most would consider positive for the stock? Shouldn’t he want to hold on to his shares? Is there something he knew, that others didn’t, that lead to so much movement in such little time? What a week!

On September 5th, 2017, 18 analysts were bullish on MGM, 1 had a hold rating, and 1 had a sell rating. Taking the events of September and October into consideration, has MGM’s picture heading forward improved, or worsened?

Comments

El Oregonian frontierland Mon, 10/09/2017 - 21:06 Permalink

"Key Witness in Las Vegas Shooting Kills Self and Daughter Following FBI Raid""Agents executed a search warrant and raided Beilman's Williamsburg Drive home the day before he took his daughter, Nicole, into the backyard and shot her and then himself in the back of the head with a 12-gauge shotgun."https://www.sgtreport.com/articles/2017/10/9/key-witness-in-las-vegas-s… believe the FBI executed more than just a search warrant.But, that is just me though...

In reply to by frontierland

dogismycopilot Mon, 10/09/2017 - 07:45 Permalink

https://www.reviewjournal.com/opinion/opinion-columns/wayne-allyn-root/…Murren announced that MGM would match employee donations to the Council on American Islamic Relations. This outfit was named by the Justice Department as “an unindicted co-conspirator” to Muslim terrorism. The group has been linked to Hamas. In addition, CAIR advises Muslims not to cooperate with the FBI.But don’t take my word for it. In 2003, liberal Democrat Sen. Charles Schumer said, “CAIR has ties to terrorism.”What CEO would tie his company to a group like this? Any CEO would have to be blind, deaf or dumb to go near CAIR. He’d have to know his controversial choices involving these extreme groups would offend, outrage or chase off millions of his customers.Jim Murren has gone too far. And he’s put MGM’s board, shareholders and employees in a terrible position because of his extreme, radical, reckless decisions.

east of eden Mon, 10/09/2017 - 08:37 Permalink

Well, given the financial situation in the US pretty much everyone (including retailers) knows the end game is approaching and they want out. Can't say I blame them. In another few months most of the US will look like ghost towns.

cynicalskeptic east of eden Mon, 10/09/2017 - 22:33 Permalink

Vegas is doomed.  Look at what it is in Bladerunner 2049.   It'll be that by 2029.  A place in the middle of a desert running out of water (and electricity if no water is flowing through the dams) depending on people driving or flying to get there to LOSE money.......    not a great business model - especially now that the Arab whales are staying in London or Monaco and the Chinese ones are going to Macao.

In reply to by east of eden

el buitre Mon, 10/09/2017 - 08:57 Permalink

"Why would the individual with the most information about the company sell 80% of his shares immediately after the commencement of a program that most would consider positive for the stock? Shouldn’t he want to hold on to his shares? Is there something he knew, that others didn’t, that lead to so much movement in such little time? What a week!"Duh!  What happened to the stock prices of United and American Airlines when Wall Street reopened after 9/11?  Question answered.  That "most information" undoubtedly included the upcoming psy-ops.

TeethVillage88s Mon, 10/09/2017 - 09:56 Permalink

Corporations like Steve Wynn are paying $20 Million Dollars for new Security Systems that failed in this Massacre at Mandalay.

- No wonder Inflation of Room Service is $85 for a Hamburger, a Bagel, and a Potato Soup
- Who will go to Vegas unless they are Elite of some kind with intrusive security and Inflated Bills
- Insider Trading?
- Corporations with Mercenaries or Armies overseas to guard projects
- Hotel Corporations with Armies of Security, Magnetometers, Wands, X-Ray Machines, enter your room every day, create a profile on you that is Electronic and shared with many users

herbivore Mon, 10/09/2017 - 10:23 Permalink

A good time to sell your stock is when someone has announced their desire to purchase a big stake in your company. Murren announced he, as CEO of MGM, would commit MGM capital to purchasing 6% of outstanding shares. Since Murren personally owned a big chunk of outstanding shares, with his share buyback decision he created demand for those shares. Seems pretty logical to me. Always bear in mind that CEO's of publicly traded companies exist to siphon away as big a percentage of stock into their own personal coffers as they possibly can, and to sell them before the inevitable ruination of the company. In cahoots with their friends on the board, they accomplish this goal rather easily. Ain't America great?

koan Mon, 10/09/2017 - 11:23 Permalink

Is this an indicator of a possible attack? Monitor share dumps, then think through why the company's shares would suddenly drop and tie that in to attacks?

Equifax execs dumped shares, MGM dumped shares, who else is dumping shares and could the company whose shares they dump be attacked... cyber or otherwise.

Does trading software have code deployed for these things?

ThePhantom Mon, 10/09/2017 - 13:32 Permalink

lets see here.... there was a warning about an attack in vegas by dhs. there are stories on the ground about someone running around saying "your all going to die"... How much you wanna bet there were a number of warnings given to authorities ? Stocks sales and donnations to CAIR? seems logical that there were threats made and this attack was telegraphed long before it took place.

ZIRPdiggler AurorusBorealus Mon, 10/09/2017 - 21:51 Permalink

Hey!  Let's call Jim Rickards to do the forensic analysis of the financial transactions leading up to the false flag flag event on Oct 1st.  Afterall, that is exactly what he does for the CIA in his financial terrorism prediction work....but wait......oh yeah...that CANT HAPPEN because the CIA are probably the ones, along with the massad, to pull off this very poorly executed attack.  You guys are getting really sloppy.... 

In reply to by AurorusBorealus

herefortheshow17 Mon, 10/09/2017 - 20:09 Permalink

In the cab drivers video you can clearly hear gunfire off at a distance. People were saying that was when Paddock went deeper into the room and shot at the security guard but that no longer makes sense because the sheriff is now saying paddock shot the gaurd 5 minutes before opening fire on the crowd!!

Victory_Garden Mon, 10/09/2017 - 23:36 Permalink

So easy peazy to get a potential picture of insiders under this and the other clown soreass and the extra shooters out came from the rooms with windows that open for the window cleaners and were reserved and specially cleaned after nonchalant getaways....Hummmm...suppose anything from the inside racketeers is possible...they do afterall have such a corrupted govt to learn from.

PeterLong Tue, 10/10/2017 - 02:58 Permalink

Gunfire here, gunfire there, 2 guns, 3 guns, 4 guns. How can anyone listen to the audio on any video and know if it is real gunfire or not; any more than sitting in a movie theater?

All Risk No Reward All Risk No Reward Sat, 10/14/2017 - 17:11 Permalink

The Debt-Money Monopolists and their "Human Power Elite" can't help themselves from monitizing their false flags operations against the broke-back gullible American people...GOOD TIMING: George Soros bought $42 million worth of puts on MGM Resorts earlier this yearhttps://www.sgtreport.com/articles/2017/10/9/good-timing-george-soros-b…“We live surrounded by a systematic appeal to a dream world which all mature, scientific reality would reject. We, quite literally, advertise our commitment to immaturity, mendacity and profound gullibility. It is as the hallmark of the culture. And it is justified as being economically indispensable.” ~John Kenneth Galbraith

In reply to by All Risk No Reward

All Risk No Reward All Risk No Reward Sat, 10/14/2017 - 17:22 Permalink

MGM CEO dumped 80% of shares in the month(s) ahead of the shooting.Insider Trading and Financial Anomalies Surrounding the Las Vegas Attackhttp://www.zerohedge.com/news/2017-10-08/insider-trading-and-financial-… like on 911, the Debt-Money Monopolist Human Power Elite made tons of free cash with their foreknowledge...Oh, and it is physically impossible for the top section of the WTC tower to have crushed the lower section, but it is not impossible for your subconoscious to irrationally dicard this absolute proof (in fact, almost everyone will irrationally discard it).What a Gravity-Driven Demolition Looks Likehttps://www.youtube.com/watch?v=NiHeCjZlkr8"But the 911 Commission didn't mention this..."Of course not.  The 911 Commission was artifically limited to the "initiation of collapse" and no more.Nothing was analyzed after the "initiation of collapse."Now you know why, and this not-so-arbitrary limit was strategically in place to conceal the physical impossibilities from the analysis of the report.It implies FOREKNOWLEDGE of the Debt-Money Monopolist government and media controllers and at least some of their Human Power Elite.

In reply to by All Risk No Reward