MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Bought by AQR Capital Management LLC

AQR Capital Management LLC lifted its holdings in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 235.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,301 shares of the company’s stock after buying an additional 8,637 shares during the period. AQR Capital Management LLC owned approximately 0.06% of MGP Ingredients worth $915,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CWM LLC lifted its position in MGP Ingredients by 477.9% during the 2nd quarter. CWM LLC now owns 393 shares of the company’s stock worth $29,000 after acquiring an additional 325 shares during the period. LRI Investments LLC purchased a new stake in shares of MGP Ingredients during the first quarter worth approximately $43,000. Innealta Capital LLC acquired a new stake in shares of MGP Ingredients during the second quarter worth $42,000. Covestor Ltd increased its stake in MGP Ingredients by 23.3% in the 1st quarter. Covestor Ltd now owns 795 shares of the company’s stock valued at $68,000 after buying an additional 150 shares during the period. Finally, nVerses Capital LLC purchased a new position in MGP Ingredients during the 2nd quarter worth $82,000. Hedge funds and other institutional investors own 77.11% of the company’s stock.

Insider Buying and Selling at MGP Ingredients

In related news, Director Karen Seaberg sold 1,109 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $90.14, for a total value of $99,965.26. Following the sale, the director now directly owns 134,969 shares in the company, valued at $12,166,105.66. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 36.20% of the stock is owned by corporate insiders.

MGP Ingredients Stock Performance

Shares of MGPI opened at $79.42 on Friday. The company has a quick ratio of 2.22, a current ratio of 6.44 and a debt-to-equity ratio of 0.34. MGP Ingredients, Inc. has a 52-week low of $68.86 and a 52-week high of $103.04. The company has a 50-day simple moving average of $84.79 and a 200-day simple moving average of $80.43. The company has a market capitalization of $1.75 billion, a PE ratio of 18.34, a P/E/G ratio of 1.16 and a beta of 0.59.

MGP Ingredients (NASDAQ:MGPI) last issued its earnings results on Thursday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.54 by $0.17. The company had revenue of $190.80 million during the quarter, compared to analysts’ expectations of $189.06 million. MGP Ingredients had a net margin of 12.18% and a return on equity of 14.98%. The firm’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same period last year, the company posted $1.49 earnings per share. Equities research analysts predict that MGP Ingredients, Inc. will post 6.25 earnings per share for the current fiscal year.

MGP Ingredients Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, August 16th. This represents a $0.48 dividend on an annualized basis and a yield of 0.60%. MGP Ingredients’s payout ratio is 11.09%.

Analysts Set New Price Targets

Several analysts have recently weighed in on MGPI shares. StockNews.com raised shares of MGP Ingredients from a “sell” rating to a “hold” rating in a report on Monday, August 5th. Roth Mkm reiterated a “buy” rating and set a $92.00 target price on shares of MGP Ingredients in a research report on Thursday, July 25th.

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.