MGP Ingredients, Inc. (NASDAQ:MGPI) Director Sells $1,096,139.80 in Stock

MGP Ingredients, Inc. (NASDAQ:MGPI) Director Karen Seaberg sold 12,092 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $90.65, for a total value of $1,096,139.80. Following the completion of the sale, the director now directly owns 54,542 shares of the company’s stock, valued at $4,944,232.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

MGP Ingredients Price Performance

NASDAQ MGPI traded up $0.77 during trading on Monday, reaching $91.87. The company’s stock had a trading volume of 147,690 shares, compared to its average volume of 191,342. The firm has a fifty day moving average of $79.29 and a 200 day moving average of $80.45. MGP Ingredients, Inc. has a one year low of $68.86 and a one year high of $122.32. The stock has a market capitalization of $2.02 billion, a PE ratio of 21.25, a P/E/G ratio of 1.27 and a beta of 0.59. The company has a debt-to-equity ratio of 0.34, a current ratio of 6.44 and a quick ratio of 1.97.

MGP Ingredients (NASDAQ:MGPI) last announced its earnings results on Thursday, August 1st. The company reported $1.71 earnings per share for the quarter, beating analysts’ consensus estimates of $1.54 by $0.17. MGP Ingredients had a net margin of 12.18% and a return on equity of 14.98%. The business had revenue of $190.80 million for the quarter, compared to the consensus estimate of $189.06 million. During the same period last year, the firm posted $1.49 earnings per share. MGP Ingredients’s quarterly revenue was down 8.7% on a year-over-year basis. Analysts expect that MGP Ingredients, Inc. will post 6.18 EPS for the current fiscal year.

MGP Ingredients Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 30th. Shareholders of record on Friday, August 16th will be given a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, August 16th. This represents a $0.48 dividend on an annualized basis and a yield of 0.52%. MGP Ingredients’s payout ratio is 11.09%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MGPI shares. Wedbush reiterated an “outperform” rating and issued a $120.00 target price on shares of MGP Ingredients in a research note on Monday, April 29th. Roth Mkm reiterated a “buy” rating and issued a $92.00 price objective on shares of MGP Ingredients in a research note on Thursday, July 25th. Finally, StockNews.com upgraded MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Monday, August 5th.

Hedge Funds Weigh In On MGP Ingredients

A number of hedge funds and other institutional investors have recently modified their holdings of the company. CWM LLC increased its stake in shares of MGP Ingredients by 477.9% in the second quarter. CWM LLC now owns 393 shares of the company’s stock worth $29,000 after buying an additional 325 shares during the period. LRI Investments LLC purchased a new position in shares of MGP Ingredients during the first quarter valued at approximately $43,000. Innealta Capital LLC bought a new position in shares of MGP Ingredients during the second quarter valued at approximately $42,000. Quest Partners LLC purchased a new stake in MGP Ingredients in the fourth quarter worth $72,000. Finally, Covestor Ltd boosted its holdings in MGP Ingredients by 23.3% in the first quarter. Covestor Ltd now owns 795 shares of the company’s stock valued at $68,000 after acquiring an additional 150 shares in the last quarter. 77.11% of the stock is currently owned by hedge funds and other institutional investors.

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.