MGM Growth Properties LLC (NYSE:MGP) Stake Boosted by Sei Investments Co.

Sei Investments Co. raised its stake in MGM Growth Properties LLC (NYSE:MGP) by 15.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 109,304 shares of the financial services provider’s stock after buying an additional 14,566 shares during the period. Sei Investments Co. owned about 0.16% of MGM Growth Properties worth $3,302,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in shares of 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 worth $569,000 after purchasing an additional 69 shares during the period. Renaissance Technologies LLC bought a new position in shares of MGM Growth Properties in the 1st quarter worth about $877,000. Goldman Sachs Group Inc. increased its stake in shares of MGM Growth Properties by 20.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 80,890 shares of the financial services provider’s stock worth $2,188,000 after acquiring an additional 13,727 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of MGM Growth Properties by 778.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 750,219 shares of the financial services provider’s stock worth $21,878,000 after acquiring an additional 664,860 shares in the last quarter. Finally, Cambiar Investors LLC increased its stake in shares of MGM Growth Properties by 4.0% in the 2nd quarter. Cambiar Investors LLC now owns 137,865 shares of the financial services provider’s stock worth $4,024,000 after acquiring an additional 5,301 shares in the last quarter.

In other news, Director Robert W. Smith purchased 1,500 shares of the firm’s stock in a transaction on Monday, November 20th. The stock was acquired at an average cost of $29.41 per share, with a total value of $44,115.00. Following the completion of the transaction, the director now owns 5,319 shares in the company, valued at approximately $156,431.79. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.60% of the stock is owned by corporate insiders.

Shares of MGM Growth Properties LLC (MGP) traded up $0.03 on Friday, reaching $29.05. 286,704 shares of the company traded hands, compared to its average volume of 443,109. MGM Growth Properties LLC has a 12 month low of $24.07 and a 12 month high of $31.83. The company has a market capitalization of $2,057.43, a PE ratio of 14.73, a PEG ratio of 0.86 and a beta of -1.45. The company has a debt-to-equity ratio of 0.67, a current ratio of 28.86 and a quick ratio of 28.86.

A number of analysts have weighed in on the stock. SunTrust Banks restated a “buy” rating and set a $31.00 price objective on shares of MGM Growth Properties in a research note on Friday, November 10th. ValuEngine upgraded shares of MGM Growth Properties from a “hold” rating to a “buy” rating in a research note on Thursday, November 9th. Morgan Stanley lifted their price target on shares of MGM Growth Properties from $30.00 to $31.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 24th. Zacks Investment Research downgraded shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a report on Wednesday, October 18th. Finally, Bank of America reissued a “buy” rating and issued a $34.00 price objective (up previously from $32.00) on shares of MGM Growth Properties in a report on Friday, September 8th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $31.67.

ILLEGAL ACTIVITY WARNING: “MGM Growth Properties LLC (NYSE:MGP) Stake Boosted by Sei Investments Co.” was originally published by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this report on another domain, it was illegally stolen and republished in violation of international copyright legislation. The correct version of this report can be read at https://ledgergazette.com/2017/12/09/sei-investments-co-has-3-30-million-stake-in-mgm-growth-properties-llc-mgp.html.

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.

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