GSA Capital Partners LLP Takes $1.01 Million Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

GSA Capital Partners LLP purchased a new position in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,134 shares of the company's stock, valued at approximately $1,010,000. GSA Capital Partners LLP owned 0.06% of MGP Ingredients at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. CWM LLC grew its stake in MGP Ingredients by 477.9% in the 2nd quarter. CWM LLC now owns 393 shares of the company's stock valued at $29,000 after acquiring an additional 325 shares during the period. Isthmus Partners LLC grew its position in shares of MGP Ingredients by 2.1% in the second quarter. Isthmus Partners LLC now owns 41,427 shares of the company's stock valued at $31,000 after purchasing an additional 860 shares during the period. Innealta Capital LLC purchased a new stake in shares of MGP Ingredients during the second quarter worth about $42,000. LRI Investments LLC acquired a new position in shares of MGP Ingredients during the 1st quarter worth about $43,000. Finally, Farther Finance Advisors LLC lifted its stake 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 buying an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 77.11% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on MGPI shares. Loop Capital set a $75.00 price objective on MGP Ingredients in a research note on Friday, October 18th. Lake Street Capital cut MGP Ingredients from a "buy" rating to a "hold" rating and dropped their price target for the stock from $135.00 to $75.00 in a research report on Friday, October 18th. Truist Financial dropped their price target on MGP Ingredients from $85.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, November 1st. Roth Mkm lowered their target price on shares of MGP Ingredients from $69.00 to $65.00 and set a "buy" rating on the stock in a research note on Monday, November 4th. Finally, TD Cowen lowered 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 report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $76.67.

MGP Ingredients Trading Down 1.3 %

NASDAQ:MGPI traded down $0.66 during trading hours on Friday, hitting $49.65. The company had a trading volume of 273,911 shares, compared to its average volume of 247,391. MGP Ingredients, Inc. has a 1 year low of $45.44 and a 1 year high of $102.42. The company has a market cap of $1.09 billion, a P/E ratio of 10.32, a P/E/G ratio of 0.83 and a beta of 0.66. The company has a 50-day moving average of $69.75 and a 200 day moving average of $76.33. 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 (NASDAQ:MGPI - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.27 by $0.02. MGP Ingredients had a net margin of 14.44% and a return on equity of 14.39%. The firm had revenue of $161.50 million during the quarter, compared to analyst estimates of $161.55 million. During the same quarter in the prior year, the firm posted $1.34 earnings per share. MGP Ingredients's quarterly revenue was down 23.7% on a year-over-year basis. Sell-side analysts expect that MGP Ingredients, Inc. will post 5.57 earnings per share for the current year.

MGP Ingredients Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Stockholders 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 0.97%. The ex-dividend date of this dividend is Friday, November 15th. MGP Ingredients's payout ratio is presently 9.98%.

Insider Activity at MGP Ingredients

In other MGP Ingredients news, Director Karen Seaberg sold 1,109 shares of MGP Ingredients stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $90.14, for a total value of $99,965.26. Following the sale, the director now owns 134,969 shares in the company, valued at $12,166,105.66. The trade was a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 36.20% of the stock is currently owned by insiders.

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.