GAMMA Investing LLC Purchases 431 Shares of MGP Ingredients, Inc. (NASDAQ:MGPI)

GAMMA Investing LLC raised its holdings in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 162.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 697 shares of the company’s stock after buying an additional 431 shares during the period. GAMMA Investing LLC’s holdings in MGP Ingredients were worth $27,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MGPI. Farther Finance Advisors LLC grew its position in MGP Ingredients by 45.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 597 shares of the company’s stock valued at $50,000 after acquiring an additional 186 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of MGP Ingredients by 192.5% during the fourth quarter. Versant Capital Management Inc now owns 699 shares of the company’s stock valued at $28,000 after purchasing an additional 460 shares during the period. First Horizon Advisors Inc. grew its holdings in shares of MGP Ingredients by 73.5% in the third quarter. First Horizon Advisors Inc. now owns 760 shares of the company’s stock worth $63,000 after purchasing an additional 322 shares during the last quarter. Point72 DIFC Ltd increased its stake in MGP Ingredients by 2,375.6% in the 3rd quarter. Point72 DIFC Ltd now owns 1,015 shares of the company’s stock worth $84,000 after buying an additional 974 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings in MGP Ingredients by 187.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,261 shares of the company’s stock valued at $105,000 after buying an additional 823 shares in the last quarter. 77.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at MGP Ingredients

In other news, Director Lori L.S. Mingus sold 7,050 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $46.03, for a total value of $324,511.50. Following the completion of the sale, the director now owns 37,373 shares of the company’s stock, valued at $1,720,279.19. This trade represents a 15.87 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 36.20% of the company’s stock.

Analyst Ratings Changes

MGPI has been the topic of a number of research analyst reports. TD Cowen downgraded shares of MGP Ingredients from a “buy” rating to a “hold” rating and dropped their target price for the stock from $66.00 to $50.00 in a research note on Wednesday, November 6th. Truist Financial dropped their price objective on MGP Ingredients from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. StockNews.com raised MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Lake Street Capital cut MGP Ingredients from a “buy” rating to a “hold” rating and lowered their target price for the stock from $135.00 to $75.00 in a report on Friday, October 18th. Finally, Roth Mkm cut their price target on MGP Ingredients from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, MGP Ingredients currently has an average rating of “Moderate Buy” and an average price target of $71.29.

MGP Ingredients Stock Down 0.9 %

MGP Ingredients stock opened at $36.32 on Wednesday. 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 firm has a market cap of $797.33 million, a P/E ratio of 7.55, a P/E/G ratio of 0.74 and a beta of 0.65. The business has a fifty day moving average of $43.91 and a two-hundred day moving average of $66.42. MGP Ingredients, Inc. has a twelve month low of $34.02 and a twelve month high of $93.18.

MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.27 by $0.02. MGP Ingredients had a return on equity of 14.39% and a net margin of 14.44%. The firm had revenue of $161.50 million during the quarter, compared to analyst estimates of $161.55 million. During the same period in the previous year, the company posted $1.34 EPS. The business’s revenue for the quarter was down 23.7% compared to the same quarter last year. On average, 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 was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date was Friday, November 15th. MGP Ingredients’s dividend payout ratio is currently 9.98%.

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.