MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Acquired by Villanova Investment Management Co LLC

Villanova Investment Management Co LLC increased its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 109.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 47,696 shares of the company’s stock after buying an additional 24,966 shares during the quarter. MGP Ingredients accounts for 1.7% of Villanova Investment Management Co LLC’s investment portfolio, making the stock its 26th biggest holding. Villanova Investment Management Co LLC’s holdings in MGP Ingredients were worth $1,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of MGP Ingredients by 162.0% in the 4th 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 boosted its stake in shares of MGP Ingredients by 192.5% during the 4th quarter. Versant Capital Management Inc now owns 699 shares of the company’s stock worth $28,000 after acquiring an additional 460 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of MGP Ingredients by 56.0% in 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. Point72 DIFC Ltd raised its position in shares of MGP Ingredients by 2,375.6% during the third quarter. Point72 DIFC Ltd now owns 1,015 shares of the company’s stock worth $84,000 after purchasing an additional 974 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in shares of MGP Ingredients by 187.9% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,261 shares of the company’s stock valued at $105,000 after purchasing an additional 823 shares during the period. 77.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at MGP Ingredients

In other MGP Ingredients news, Director Karen Seaberg sold 28,304 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $30.82, for a total value of $872,329.28. Following the completion of the sale, the director now owns 283,569 shares of the company’s stock, valued at $8,739,596.58. The trade was a 9.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 36.20% of the stock is currently owned by company insiders.

MGP Ingredients Price Performance

MGPI opened at $29.38 on Tuesday. The stock has a fifty day moving average price of $32.72 and a 200 day moving average price of $47.34. The company has a current ratio of 6.46, a quick ratio of 1.94 and a debt-to-equity ratio of 0.31. MGP Ingredients, Inc. has a 1 year low of $28.65 and a 1 year high of $92.52. The stock has a market cap of $624.91 million, a price-to-earnings ratio of 6.11 and a beta of 0.57.

MGP Ingredients Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.63%. MGP Ingredients’s dividend payout ratio is 31.79%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Lake Street Capital raised shares of MGP Ingredients from a “hold” rating to a “buy” rating and reduced their price objective for the company from $55.00 to $45.00 in a research note on Thursday, February 27th. Roth Mkm reduced their price target on shares of MGP Ingredients from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Wells Fargo & Company lowered their price objective on shares of MGP Ingredients from $58.00 to $44.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, StockNews.com lowered MGP Ingredients from a “hold” rating to a “sell” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

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.