Kerkorian's Tracinda Sells 20M MGM Resorts (MGM) Shares; Stake Lowered to 22.75%

In a 13D filing on MGM Resorts International (NYSE: MGM), Kirk Kerkorian's Tracinda Corp disclosed a 22.75%, or 111,173,744 share, stake in the company. This is down 15.25% from the 131,173,744 shares held at the end of the latest quarter ending August 18, 2011.

Tracinda continues to believe MGM is a good long term investment, according to the amended 13D filing with the SEC.

For more notable holders of MGM Resorts International stock click here.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• OceanaGold to acquire Ausgold in a deal valued at A$776M
• Yxt.com Group prices $1.5M registered direct offering at $3 per ADS
• Diana Shipping drops bid for Genco after price demands spike to $36.91