Cipher Capital LP Has $4.66 Million Position in MGM Growth Properties LLC (MGP)

Cipher Capital LP boosted its position in MGM Growth Properties LLC (NYSE:MGP) by 9.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 159,713 shares of the financial services provider’s stock after buying an additional 13,567 shares during the period. Cipher Capital LP owned approximately 0.28% of MGM Growth Properties worth $4,662,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Bank of New York Mellon Corp grew its position in MGM Growth Properties by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 21,020 shares of the financial services provider’s stock valued at $569,000 after buying an additional 69 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of MGM Growth Properties by 0.4% during the 1st quarter. Russell Investments Group Ltd. now owns 85,359 shares of the financial services provider’s stock worth $2,308,000 after purchasing an additional 340 shares in the last quarter. Chartwell Investment Partners LLC boosted its position in shares of MGM Growth Properties by 0.3% during the 2nd quarter. Chartwell Investment Partners LLC now owns 272,735 shares of the financial services provider’s stock worth $7,961,000 after purchasing an additional 798 shares in the last quarter. Cambiar Investors LLC raised its stake in shares of MGM Growth Properties by 1.1% during the 1st quarter. Cambiar Investors LLC now owns 132,564 shares of the financial services provider’s stock worth $3,586,000 after buying an additional 1,506 shares during the last quarter. Finally, Blair William & Co. IL raised its stake in shares of MGM Growth Properties by 6.0% during the 2nd quarter. Blair William & Co. IL now owns 63,408 shares of the financial services provider’s stock worth $1,851,000 after buying an additional 3,608 shares during the last quarter.

Several research firms have recently issued reports on MGP. Zacks Investment Research downgraded MGM Growth Properties from a “buy” rating to a “hold” rating in a research note on Saturday. Ladenburg Thalmann Financial Services began coverage on shares of MGM Growth Properties in a research note on Friday, June 2nd. They issued a “buy” rating and a $32.00 target price for the company. ValuEngine downgraded shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, June 20th. Deutsche Bank AG boosted their target price on shares of MGM Growth Properties from $28.00 to $30.00 and gave the company a “hold” rating in a research note on Wednesday, August 9th. Finally, UBS AG reissued a “buy” rating and issued a $33.00 target price (up previously from $30.00) on shares of MGM Growth Properties in a research note on Wednesday, September 6th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. MGM Growth Properties presently has an average rating of “Buy” and a consensus price target of $31.86.

MGM Growth Properties LLC (NYSE:MGP) opened at 30.73 on Friday. The stock’s 50 day moving average is $31.01 and its 200-day moving average is $28.57. MGM Growth Properties LLC has a 1-year low of $23.63 and a 1-year high of $31.83. The firm has a market cap of $1.77 billion, a P/E ratio of 39.40 and a beta of -1.31.

MGM Growth Properties (NYSE:MGP) last posted its earnings results on Tuesday, August 8th. The financial services provider reported $0.18 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.32). MGM Growth Properties had a net margin of 6.21% and a return on equity of 0.81%. The firm had revenue of $184.45 million during the quarter, compared to analyst estimates of $184.43 million. During the same period in the previous year, the company posted $0.32 EPS. MGM Growth Properties’s revenue for the quarter was up 66.3% compared to the same quarter last year. Analysts forecast that MGM Growth Properties LLC will post $0.78 EPS for the current year.

COPYRIGHT VIOLATION WARNING: “Cipher Capital LP Has $4.66 Million Position in MGM Growth Properties LLC (MGP)” was originally posted by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this article on another site, it was copied illegally and reposted in violation of U.S. & international copyright laws. The correct version of this article can be accessed at https://ledgergazette.com/2017/09/17/cipher-capital-lp-has-4-66-million-stake-in-mgm-growth-properties-llc-mgp.html.

About MGM Growth Properties

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.

Institutional Ownership by Quarter for MGM Growth Properties (NYSE:MGP)

Receive News & Ratings for MGM Growth Properties LLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGM Growth Properties LLC and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply