Nationwide Fund Advisors decreased its stake in MGM Growth Properties LLC (NYSE:MGP) by 9.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 363,175 shares of the financial services provider’s stock after selling 39,379 shares during the period. Nationwide Fund Advisors owned 0.53% of MGM Growth Properties worth $10,972,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. Winslow Evans & Crocker Inc. purchased a new position in shares of MGM Growth Properties in the third quarter worth about $177,000. BB&T Securities LLC purchased a new position in shares of MGM Growth Properties in the second quarter worth about $210,000. M&R Capital Management Inc. increased its stake in shares of MGM Growth Properties by 8.5% in the second quarter. M&R Capital Management Inc. now owns 8,675 shares of the financial services provider’s stock worth $258,000 after purchasing an additional 680 shares in the last quarter. Quantitative Systematic Strategies LLC purchased a new position in shares of MGM Growth Properties in the third quarter worth about $285,000. Finally, HighTower Advisors LLC purchased a new position in shares of MGM Growth Properties in the second quarter worth about $354,000.
Shares of MGM Growth Properties LLC (NYSE MGP) traded down $0.31 during trading hours on Tuesday, reaching $28.93. 799,700 shares of the company traded hands, compared to its average volume of 577,527. The stock has a market capitalization of $2,073.02, a PE ratio of 14.84, a P/E/G ratio of 0.87 and a beta of -1.45. MGM Growth Properties LLC has a 12 month low of $24.07 and a 12 month high of $31.83. The company has a current ratio of 28.86, a quick ratio of 28.86 and a debt-to-equity ratio of 0.67.
In other news, Director Robert W. Smith acquired 1,500 shares of MGM Growth Properties stock in a transaction that occurred on Monday, November 20th. The stock was bought at an average price of $29.41 per share, with a total value of $44,115.00. Following the completion of the purchase, the director now owns 5,319 shares in the company, valued at $156,431.79. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.60% of the stock is currently owned by insiders.
Several brokerages recently commented on MGP. Zacks Investment Research cut shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a research note on Saturday, September 16th. Deutsche Bank boosted their price objective 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. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of MGM Growth Properties in a research note on Thursday, August 10th. Morgan Stanley boosted their price objective on shares of MGM Growth Properties from $30.00 to $31.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 24th. Finally, UBS reaffirmed a “buy” rating and set a $33.00 price objective (up previously from $30.00) on shares of MGM Growth Properties in a research note on Wednesday, September 6th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $31.67.
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MGM Growth Properties 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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