Scion Asset Management, the hedge fund run by Michael Burry, purchased a stake in MGM Resorts International (NYSE: MGM) in the fourth quarter.
Burry, played by actor Christian Bale in the movie, purchased approximately 100K shares of the Bellagio operator in the last three months of 2022 — one of seven new additions to Scion’s equity holdings, and the only gaming name in the group.
Scion’s position in MGM stock represents just 0.026% of the gaming company’s shares outstanding, but 7.2% of the hedge fund’s portfolio, according to Bloomberg data. The stake was valued at $3.35 million at the time of purchase, indicating Burry purchased the shares around an average price of $33.50.
Burry, played by actor Christian Bale in the movie, purchased approximately 100K shares of the Bellagio operator in the last three months of 2022 — one of seven new additions to Scion’s equity holdings, and the only gaming name in the group.
Scion’s position in MGM stock represents just 0.026% of the gaming company’s shares outstanding, but 7.2% of the hedge fund’s portfolio, according to Bloomberg data. The stake was valued at $3.35 million at the time of purchase, indicating Burry purchased the shares around an average price of $33.50.