09:42 AM EDT, 08/13/2024 (MT Newswires) -- MGM Resorts International ( MGM ) was the stock pick of the week from Smart Insider after the company's chair, chief executive and chief financial officer bought a combined $7.3 million worth of stock at about $34 per share on Aug. 5.

Chair Paul Salem increased his holding in the company by 9% with his purchase of $5 million of stock, while CEO William Hornbuckle increased his holdings by 12% with his purchase of $2 million of stock, Smart Insider said.

CFO Jonathan Halkyard bought $340,000 of stock "in his first buy despite a reasonable term with the company," according to Smart Insider.

"This is a solid cluster of buying from the Chair, CEO, and CFO after a recent pullback," said Smart Insider, which ranked the stock "strong positive signal."

Price: 37.46, Change: +0.18, Percent Change: +0.48