MGP Ingredients, Inc. (NASDAQ:MGPI) Director Sells $10,750.15 in Stock

MGP Ingredients, Inc. (NASDAQ:MGPI) Director Lori L.S. Mingus sold 335 shares of the firm’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $32.09, for a total transaction of $10,750.15. Following the completion of the sale, the director now owns 26,796 shares in the company, valued at $859,883.64. This represents a 1.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Lori L.S. Mingus also recently made the following trade(s):

• On Tuesday, April 1st, Lori L.S. Mingus sold 778 shares of MGP Ingredients stock. The shares were sold at an average price of $28.89, for a total transaction of $22,476.42.

MGP Ingredients Stock Performance

MGP Ingredients stock opened at $31.89 on Friday. MGP Ingredients, Inc. has a 52-week low of $25.12 and a 52-week high of $92.52. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.46 and a quick ratio of 1.94. The stock has a fifty day moving average price of $29.75 and a two-hundred day moving average price of $38.13. The firm has a market capitalization of $678.30 million, a P/E ratio of 6.63 and a beta of 0.32.

MGP Ingredients (NASDAQ:MGPI) last announced its earnings results on Thursday, May 1st. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.31 by $0.05. The business had revenue of $121.65 million during the quarter, compared to analysts’ expectations of $119.14 million. MGP Ingredients had a net margin of 14.44% and a return on equity of 14.39%. The firm’s revenue for the quarter was down 28.7% on a year-over-year basis. During the same quarter last year, the company posted $1.07 EPS. As a group, analysts anticipate that MGP Ingredients, Inc. will post 5.56 EPS for the current fiscal year.

MGP Ingredients Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a dividend of $0.12 per share. The ex-dividend date is Friday, May 16th. This represents a $0.48 dividend on an annualized basis and a yield of 1.51%. MGP Ingredients’s dividend payout ratio (DPR) is presently 106.67%.

Institutional Investors Weigh In On MGP Ingredients

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC boosted its stake in MGP Ingredients by 162.0% in the fourth quarter. GAMMA Investing LLC now owns 697 shares of the company’s stock worth $27,000 after purchasing an additional 431 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of MGP Ingredients by 192.5% in the fourth quarter. Versant Capital Management Inc now owns 699 shares of the company’s stock valued at $28,000 after buying an additional 460 shares during the last quarter. Isthmus Partners LLC lifted its position in MGP Ingredients by 1.8% during the 4th quarter. Isthmus Partners LLC now owns 38,379 shares of the company’s stock worth $1,511,000 after buying an additional 684 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in MGP Ingredients by 56.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,913 shares of the company’s stock worth $75,000 after acquiring an additional 687 shares during the last quarter. Finally, Penserra Capital Management LLC increased its position in MGP Ingredients by 333.3% in the 1st quarter. Penserra Capital Management LLC now owns 897 shares of the company’s stock valued at $26,000 after acquiring an additional 690 shares in the last quarter. 77.11% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on MGPI shares. Lake Street Capital raised MGP Ingredients from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $55.00 to $45.00 in a report on Thursday, February 27th. Wells Fargo & Company decreased their price target on shares of MGP Ingredients from $40.00 to $37.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. StockNews.com raised shares of MGP Ingredients from a “sell” rating to a “hold” rating in a report on Friday. Finally, Truist Financial reduced their price objective on shares of MGP Ingredients from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, MGP Ingredients presently has an average rating of “Moderate Buy” and a consensus target price of $50.33.

About MGP Ingredients

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.