NWQ Investment Management Company LLC grew its position in shares of MGM Growth Properties LLC (NYSE:MGP) by 19.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 366,800 shares of the financial services provider’s stock after purchasing an additional 61,000 shares during the period. NWQ Investment Management Company LLC owned approximately 0.52% of MGM Growth Properties worth $10,692,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its position in shares of MGM Growth Properties by 932.0% during the 3rd quarter. Envestnet Asset Management Inc. now owns 9,288 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 8,388 shares in the last quarter. FDx Advisors Inc. purchased a new position in shares of MGM Growth Properties during the 3rd quarter valued at $395,000. Parametric Portfolio Associates LLC purchased a new position in shares of MGM Growth Properties during the 2nd quarter valued at $413,000. NTV Asset Management LLC purchased a new position in shares of MGM Growth Properties during the 3rd quarter valued at $426,000. Finally, Bbva Compass Bancshares Inc. purchased a new position in shares of MGM Growth Properties during the 4th quarter valued at $493,000.
MGM Growth Properties LLC (NYSE MGP) opened at $26.69 on Wednesday. MGM Growth Properties LLC has a 1 year low of $25.20 and a 1 year high of $31.83. The stock has a market cap of $1,890.82, a price-to-earnings ratio of 13.34, a P/E/G ratio of 0.73 and a beta of -0.47. The company has a debt-to-equity ratio of 0.65, a current ratio of 8.11 and a quick ratio of 8.11.
A number of research firms have recently commented on MGP. Ladenburg Thalmann Financial Services set a $35.00 price target on shares of MGM Growth Properties and gave the company a “buy” rating in a research report on Wednesday, January 17th. Zacks Investment Research lowered shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Morgan Stanley began coverage on shares of MGM Growth Properties in a research report on Thursday, February 15th. They issued an “equal weight” rating and a $29.00 target price for the company. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $31.00 target price (down from $33.00) on shares of MGM Growth Properties in a research report on Wednesday, February 21st. Finally, Bank of America cut their target price on shares of MGM Growth Properties from $34.00 to $29.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $31.44.
In other MGM Growth Properties news, Director Robert W. Smith purchased 1,500 shares of the stock in a transaction on Monday, March 5th. The stock was acquired at an average cost of $26.53 per share, with a total value of $39,795.00. Following the completion of the purchase, the director now directly owns 6,819 shares of the company’s stock, valued at approximately $180,908.07. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.60% of the company’s stock.
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MGM Growth Properties Company Profile
MGM Growth Properties LLC is a real estate investment trust engaged in the acquisition, ownership and leasing of destination entertainment and leisure resorts, whose amenities include casino gaming, hotel, convention, dining, entertainment and retail offerings. Its portfolio consists of approximately 10 destination resorts.
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