MGP Ingredients, Inc. (NASDAQ:MGPI) Director Sells $20,678.35 in Stock

MGP Ingredients, Inc. (NASDAQ:MGPI) Director Karen Seaberg sold 451 shares of MGP Ingredients stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $45.85, for a total value of $20,678.35. Following the sale, the director now owns 119,105 shares in the company, valued at $5,460,964.25. This represents a 0.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Karen Seaberg also recently made the following trade(s):

• On Wednesday, September 4th, Karen Seaberg sold 1,109 shares of MGP Ingredients stock. The stock was sold at an average price of $90.14, for a total transaction of $99,965.26.

MGP Ingredients Stock Performance

Shares of MGPI stock opened at $46.28 on Monday. The company has a market cap of $1.02 billion, a P/E ratio of 9.62, a PEG ratio of 0.76 and a beta of 0.66. The business has a 50 day moving average of $62.30 and a two-hundred day moving average of $73.86. MGP Ingredients, Inc. has a 52 week low of $43.48 and a 52 week high of $102.42. The company has a quick ratio of 1.94, a current ratio of 6.46 and a debt-to-equity ratio of 0.31.

MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.02. MGP Ingredients had a return on equity of 14.39% and a net margin of 14.44%. The business had revenue of $161.50 million during the quarter, compared to analyst estimates of $161.55 million. During the same quarter in the previous year, the firm posted $1.34 EPS. The business’s revenue for the quarter was down 23.7% compared to the same quarter last year. As a group, analysts anticipate that MGP Ingredients, Inc. will post 5.57 EPS for the current year.

MGP Ingredients Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were issued a $0.12 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.04%. MGP Ingredients’s dividend payout ratio (DPR) is presently 9.98%.

Institutional Trading of MGP Ingredients

Hedge funds have recently bought and sold shares of the company. World Investment Advisors LLC acquired a new stake in shares of MGP Ingredients in the third quarter valued at approximately $6,100,000. Virtu Financial LLC acquired a new stake in MGP Ingredients in the 3rd quarter valued at approximately $373,000. MML Investors Services LLC increased its position in MGP Ingredients by 28.2% in the 3rd quarter. MML Investors Services LLC now owns 4,920 shares of the company’s stock valued at $410,000 after acquiring an additional 1,083 shares during the period. Villanova Investment Management Co LLC raised its stake in MGP Ingredients by 6.2% during the 3rd quarter. Villanova Investment Management Co LLC now owns 22,730 shares of the company’s stock valued at $1,892,000 after acquiring an additional 1,333 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new position in MGP Ingredients during the 3rd quarter worth $986,000. 77.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on MGPI shares. TD Cowen downgraded shares of MGP Ingredients from a “buy” rating to a “hold” rating and reduced their price objective for the company from $66.00 to $50.00 in a research note on Wednesday, November 6th. Truist Financial decreased their price target on MGP Ingredients from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, November 1st. StockNews.com upgraded MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Roth Mkm decreased their target price on MGP Ingredients from $69.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Finally, Lake Street Capital lowered MGP Ingredients from a “buy” rating to a “hold” rating and dropped their price target for the company from $135.00 to $75.00 in a research report on Friday, October 18th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, MGP Ingredients has an average rating of “Moderate Buy” and a consensus target price of $76.67.

MGP Ingredients Company Profile

MGP Ingredients, Inc, together with its subsidiaries, engages in the production and supply of distilled spirits, branded spirits, and food ingredients in the United States and internationally. The company operates through three segments: Distillery Solutions; Branded Spirits; and Ingredient Solutions.