Advisor Group Holdings Inc. Raises Position in MGM Growth Properties LLC (NYSE:MGP)

Advisor Group Holdings Inc. increased its holdings in MGM Growth Properties LLC (NYSE:MGP) by 24.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,965 shares of the financial services provider’s stock after purchasing an additional 5,541 shares during the period. Advisor Group Holdings Inc.’s holdings in MGM Growth Properties were worth $1,026,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MGP. The PNC Financial Services Group Inc. lifted its position in MGM Growth Properties by 405.9% during the first quarter. The PNC Financial Services Group Inc. now owns 855 shares of the financial services provider’s stock worth $28,000 after buying an additional 686 shares during the period. Rocky Mountain Advisers LLC purchased a new position in shares of MGM Growth Properties during the 2nd quarter worth about $33,000. NEXT Financial Group Inc acquired a new stake in shares of MGM Growth Properties in the second quarter worth approximately $43,000. Rockefeller Capital Management L.P. acquired a new stake in shares of MGM Growth Properties in the first quarter worth approximately $55,000. Finally, Loomis Sayles & Co. L P purchased a new stake in MGM Growth Properties in the first quarter valued at approximately $151,000. Hedge funds and other institutional investors own 92.02% of the company’s stock.

MGM Growth Properties stock opened at $40.34 on Wednesday. MGM Growth Properties LLC has a 12-month low of $25.83 and a 12-month high of $43.19. The company has a debt-to-equity ratio of 0.81, a current ratio of 8.05 and a quick ratio of 8.05. The company has a market capitalization of $6.32 billion, a price-to-earnings ratio of 29.45, a price-to-earnings-growth ratio of 2.67 and a beta of 0.80. The firm’s fifty day moving average price is $39.24 and its 200 day moving average price is $36.48.

MGM Growth Properties (NYSE:MGP) last released its quarterly earnings results on Friday, August 6th. The financial services provider reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by ($0.37). MGM Growth Properties had a return on equity of 3.65% and a net margin of 24.23%. The business had revenue of $194.30 million during the quarter, compared to analyst estimates of $197.44 million. During the same quarter last year, the firm posted $0.56 EPS. The company’s revenue was up .0% compared to the same quarter last year. Analysts forecast that MGM Growth Properties LLC will post 2.54 earnings per share for the current fiscal year.

MGP has been the subject of several research reports. Wolfe Research started coverage on shares of MGM Growth Properties in a research note on Monday, June 14th. They set a “peer perform” rating and a $43.00 price objective for the company. Zacks Investment Research lowered MGM Growth Properties from a “buy” rating to a “hold” rating in a research note on Tuesday, July 20th. Truist lowered MGM Growth Properties from a “buy” rating to a “hold” rating in a research note on Monday, August 9th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $43.00 target price on shares of MGM Growth Properties in a research report on Friday, August 6th. Finally, Truist Securities cut shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a research report on Monday, August 9th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $38.45.

MGM Growth Properties Company Profile

MGM Growth Properties LLC operates as real estate investment trust, which engages in the acquisition, ownership, and leasing of destination entertainment and leisure resorts. It diverse amenities include casino gaming, hotel, convention, dining, entertainment, and retail offerings. The company was founded on October 23, 2015 and is headquartered in Las Vegas, NV.

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

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