Northern Trust Corp Has $1.12 Million Position in MGM Growth Properties LLC (MGP)

Northern Trust Corp reduced its position in shares of MGM Growth Properties LLC (NYSE:MGP) by 21.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,436 shares of the financial services provider’s stock after selling 10,235 shares during the period. Northern Trust Corp owned approximately 0.07% of MGM Growth Properties worth $1,122,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. increased its holdings in MGM Growth Properties by 16.3% in the second quarter. American Century Companies Inc. now owns 3,862,500 shares of the financial services provider’s stock valued at $112,746,000 after buying an additional 542,558 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in MGM Growth Properties by 1,350.2% in the second quarter. JPMorgan Chase & Co. now owns 2,209,769 shares of the financial services provider’s stock valued at $64,503,000 after buying an additional 2,057,390 shares in the last quarter. Chartwell Investment Partners LLC increased its holdings in MGM Growth Properties by 0.3% in the second quarter. Chartwell Investment Partners LLC now owns 272,735 shares of the financial services provider’s stock valued at $7,961,000 after buying an additional 798 shares in the last quarter. Standard Life Investments LTD purchased a new position in MGM Growth Properties in the second quarter valued at about $6,945,000. Finally, First Trust Advisors LP increased its holdings in MGM Growth Properties by 13.2% in the second quarter. First Trust Advisors LP now owns 165,821 shares of the financial services provider’s stock valued at $4,840,000 after buying an additional 19,376 shares in the last quarter.

In other news, Director Robert W. Smith bought 1,500 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were purchased at an average price of $29.41 per share, for a total transaction of $44,115.00. Following the completion of the transaction, the director now owns 5,319 shares in the company, valued at $156,431.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.60% of the stock is currently owned by company insiders.

A number of research analysts have recently weighed in on MGP shares. Zacks Investment Research cut shares of MGM Growth Properties from a “buy” rating to a “hold” rating in a research note on Wednesday, October 18th. SunTrust Banks reissued a “buy” rating and set a $31.00 price objective on shares of MGM Growth Properties in a research note on Friday, November 10th. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of MGM Growth Properties in a research note on Thursday, August 10th. UBS reissued a “buy” rating and set a $33.00 price objective (up from $30.00) on shares of MGM Growth Properties in a research note on Wednesday, September 6th. Finally, Deutsche Bank raised their price objective on shares of MGM Growth Properties from $28.00 to $30.00 and gave the stock a “hold” rating in a research note on Wednesday, August 9th. Three investment 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 target price of $31.67.

Shares of MGM Growth Properties LLC (NYSE:MGP) traded down $0.17 on Thursday, hitting $28.84. 335,100 shares of the stock were exchanged, compared to its average volume of 575,722. The company has a debt-to-equity ratio of 0.67, a quick ratio of 28.86 and a current ratio of 28.86. MGM Growth Properties LLC has a fifty-two week low of $24.07 and a fifty-two week high of $31.83. The stock has a market cap of $2,056.72, a PE ratio of 14.73, a price-to-earnings-growth ratio of 0.86 and a beta of -1.45.

ILLEGAL ACTIVITY NOTICE: This piece of content was first posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this piece of content on another domain, it was illegally copied and reposted in violation of international trademark & copyright legislation. The legal version of this piece of content can be accessed at https://www.chaffeybreeze.com/2017/12/07/northern-trust-corp-has-1-12-million-position-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.

Want to see what other hedge funds are holding MGP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGM Growth Properties LLC (NYSE:MGP).

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.

Latest News

Leave a Reply