IAC Inc. (NYSE:IAC) disclosed two separate buy orders for shares of MGM Resorts International (NYSE:MGM) executed over consecutive trading days, increasing its direct holding to 66,822,350 shares and committing $37.2 million to the purchases.
On March 23, IAC purchased 550,000 shares of MGM common stock at a weighted average price of $37.30 per share. The price range for that tranche ran from $36.26 to $37.94. Following that trade, IAC reported a direct ownership total of 66,372,350 MGM shares.
The next day, March 24, IAC added another 450,000 shares at $37.13 per share. After the March 24 transaction, IAC's reported share total in MGM rose to 66,822,350.
At the time of the filings, MGM shares were trading at $37.49 and the company carried a market capitalization of $9.6 billion. An InvestingPro valuation snapshot cited in the disclosure notes the stock is trading at a price-to-earnings ratio of 49.18 and characterizes MGM's Financial Health score as "GOOD." The platform also offers deeper coverage via more than 1,400 Pro Research Reports.
Corporate paperwork documenting the ownership changes was signed on March 25, 2026, by Kyra Ayo Caros, Associate General Counsel and Assistant Secretary.
Analyst reaction included several adjustments to price targets and ratings that underscore divergent views on MGM's near-term operating quality and valuation:
- Wells Fargo reaffirmed an Underweight rating with a $31 price target and revised its first-quarter 2026 EBITDAR estimate for MGM’s regional properties to $267 million, citing negative weather effects and timing changes related to the Northfield Park acquisition.
- Barclays reduced its price target to $37 while keeping an Equalweight rating, noting that fourth-quarter results were influenced by hold percentage rather than underlying business strength.
- Goldman Sachs raised its price target to $34 but maintained a Sell rating, observing that the fourth-quarter results benefited from favorable hold even as underlying Las Vegas EBITDAR declined by 6.5%.
- Stifel lifted its price target to $50 and maintained a Buy rating, calling out potential for EBITDA growth on the Las Vegas Strip in the second half of 2026.
These analyst updates reflect contrasting assessments of the drivers behind recent results - specifically the extent to which hold percentage and timing effects have supported reported performance versus core business trends.
Combined, the disclosed purchases and the surrounding analyst commentary present a clear snapshot: a sizeable institutional buyer increased exposure to MGM while market participants and research providers express mixed views on near-term operating momentum and valuation. The filings leave the factual record intact on the transaction sizes, prices, ownership totals, and the contemporaneous analyst positions.