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

MGP Ingredients, Inc. (NASDAQ:MGPI) Director Karen Seaberg sold 451 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $45.85, for a total value of $20,678.35. Following the transaction, the director now owns 119,105 shares of the company’s stock, valued at approximately $5,460,964.25. This represents a 0.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 shares were sold at an average price of $90.14, for a total transaction of $99,965.26.

MGP Ingredients Stock Up 0.6 %

Shares of NASDAQ MGPI traded up $0.29 during trading on Friday, reaching $46.28. The company had a trading volume of 291,619 shares, compared to its average volume of 254,451. MGP Ingredients, Inc. has a 12-month low of $43.48 and a 12-month 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. The business’s 50-day moving average is $63.05 and its 200 day moving average is $74.16. The stock has a market cap of $1.02 billion, a PE ratio of 9.56, a P/E/G ratio of 0.75 and a beta of 0.66.

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

MGP Ingredients Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Friday, November 15th. MGP Ingredients’s dividend payout ratio (DPR) is currently 9.98%.

Institutional Trading of MGP Ingredients

Several institutional investors have recently added to or reduced their stakes in the business. World Investment Advisors LLC purchased a new position in shares of MGP Ingredients in the third quarter worth $6,100,000. Virtu Financial LLC purchased a new position in MGP Ingredients in the 3rd quarter worth about $373,000. MML Investors Services LLC lifted its stake in MGP Ingredients by 28.2% during 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 boosted its holdings in shares of 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 during the last quarter. Finally, Weiss Asset Management LP bought a new stake in shares of MGP Ingredients in the third quarter worth approximately $986,000. 77.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Roth Mkm reduced their price target on shares of MGP Ingredients from $69.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. Loop Capital set a $75.00 target price on MGP Ingredients in a research report on Friday, October 18th. 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. Truist Financial decreased their price objective on MGP Ingredients from $85.00 to $75.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, StockNews.com upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, MGP Ingredients presently has a consensus rating of “Moderate Buy” and an average target price of $76.67.

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.