MGM Growth Properties LLC [MGP] Revenue clocked in at $789.70 million, up 1.93% YTD: What’s Next?

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MGM Growth Properties LLC [NYSE: MGP] price surged by 3.12 percent to reach at $1.26. The company report on April 21, 2022 that MGM GROWTH PROPERTIES REPORTS FIRST QUARTER FINANCIAL RESULTS.

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MGM Growth Properties LLC (“MGP” or the “Company”) (NYSE: MGP) today reported financial results for the quarter ended March 31, 2022. Net income attributable to MGP Class A shareholders for the quarter was $69.4 million, or $0.44 per dilutive share.

A sum of 3587123 shares traded at recent session while its average daily volume was at 1.01M shares. MGM Growth Properties LLC shares reached a high of $42.28 and dropped to a low of $40.33 until finishing in the latest session at $41.64.

The one-year MGP stock forecast points to a potential downside of -1.07. The average equity rating for MGP stock is currently 2.60, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on MGM Growth Properties LLC [MGP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for MGP shares is $41.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on MGP stock is a recommendation set at 2.60. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Macquarie have made an estimate for MGM Growth Properties LLC shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on December 06, 2021. The new note on the price target was released on August 09, 2021, representing the official price target for MGM Growth Properties LLC stock. Previously, the target price had yet another raise to $43, while Wolfe Research analysts kept a Peer Perform rating on MGP stock.

The Average True Range (ATR) for MGM Growth Properties LLC is set at 0.90, with the Price to Sales ratio for MGP stock in the period of the last 12 months amounting to 8.40. The Price to Book ratio for the last quarter was 2.06, with the Price to Cash per share for the same quarter was set at 0.05. Price to Free Cash Flow for MGP in the course of the last twelve months was 43.62.

MGP Stock Performance Analysis:

MGM Growth Properties LLC [MGP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.31. With this latest performance, MGP shares gained by 4.86% in over the last four-week period, additionally plugging by 4.10% over the last 6 months – not to mention a rise of 15.92% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for MGP stock in for the last two-week period is set at 65.08, with the RSI for the last a single of trading hit 68.43, and the three-weeks RSI is set at 62.21 for MGM Growth Properties LLC [MGP]. The present Moving Average for the last 50 days of trading for this stock 38.44, while it was recorded at 40.76 for the last single week of trading, and 38.99 for the last 200 days.

Insight into MGM Growth Properties LLC Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and MGM Growth Properties LLC [MGP] shares currently have an operating margin of +68.38 and a Gross Margin at +66.65. MGM Growth Properties LLC’s Net Margin is presently recorded at +26.28.

Return on Equity for this stock inclined to 7.09, with Return on Assets sitting at 1.95.

MGP Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for MGP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for MGM Growth Properties LLC go to 42.96%.

MGM Growth Properties LLC [MGP] Insider Position Details

There are presently around $5,613 million, or 92.30% of MGP stock, in the hands of institutional investors. The top three institutional holders of MGP stocks are: CAPITAL RESEARCH GLOBAL INVESTORS with ownership of 12,429,030, which is approximately -7.801% of the company’s market cap and around 0.20% of the total institutional ownership; CAPITAL WORLD INVESTORS, holding 11,065,000 shares of the stock with an approximate value of $446.81 million in MGP stocks shares; and BARROW HANLEY MEWHINNEY & STRAUSS LLC, currently with $379.75 million in MGP stock with ownership of nearly -5.72% of the company’s market capitalization.

Positions in MGM Growth Properties LLC stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 150 institutional holders increased their position in MGM Growth Properties LLC [NYSE:MGP] by around 10,964,370 shares. Additionally, 135 investors decreased positions by around 12,936,300 shares, while 41 investors held positions by with 115,107,370 shares. The mentioned changes placed institutional holdings at 139,008,040 shares, according to the latest SEC report filing. MGP stock had 35 new institutional investments in for a total of 988,834 shares, while 31 institutional investors sold positions of 1,568,876 shares during the same period.