Multiple Insiders Report MGM Purchases

The most significant insider buy on today’s list comes via three Form 4 filings by the CEO and president, the CFO, and a director of MGM Resorts International $MGM.

The chief financial officer of Royal Caribbean Cruises Ltd $RCL, Naftali Holtz, disclosed an acquisition of 5,350 shares, equivalent to $749,000.

Here’s The Hot Corner, with data from August 6, 2024:

The CEO of Blackstone Mortgage Trust $BXMT and one of the company's directors announced acquisitions totaling $1.2 million.

The CEOs of Pebblebrook Hotel Trust $PEB and AGCO Corporation $AGCO both filed Form 4s revealing purchase of their own stock.

RCL resolved higher from a multi-year basing pattern this year, ripping to new all-time highs.

Fast-forward to today, and price pulled back to the breakout level.

It's finding support at a shelf of former highs that coincide with an upward-sloping 200-day moving average.

We imagine RCL will experience a fresh leg higher in the coming weeks and months if buyers successfully defend this confluence of support.

Stay tuned. We'll be back on Thursday with more insider activity.

And please reach out with any questions. We love hearing from you!