21,142 Shares in MGP Ingredients, Inc. (NASDAQ:MGPI) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC acquired a new stake in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 21,142 shares of the company's stock, valued at approximately $832,000. Proficio Capital Partners LLC owned about 0.10% of MGP Ingredients at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of MGP Ingredients by 162.0% during the 4th quarter. GAMMA Investing LLC now owns 697 shares of the company's stock worth $27,000 after buying an additional 431 shares in the last quarter. Versant Capital Management Inc grew its position in MGP Ingredients by 192.5% in the fourth quarter. Versant Capital Management Inc now owns 699 shares of the company's stock valued at $28,000 after acquiring an additional 460 shares during the last quarter. First Horizon Advisors Inc. grew its position in MGP Ingredients by 73.5% in the third quarter. First Horizon Advisors Inc. now owns 760 shares of the company's stock valued at $63,000 after acquiring an additional 322 shares during the last quarter. Point72 DIFC Ltd raised its stake in 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 acquiring an additional 974 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings in shares of MGP Ingredients by 187.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,261 shares of the company's stock worth $105,000 after acquiring an additional 823 shares during the last quarter. 77.11% of the stock is currently owned by institutional investors and hedge funds.

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Insider Transactions at MGP Ingredients

In related news, Director Karen Seaberg sold 28,304 shares of the company's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $30.82, for a total transaction of $872,329.28. Following the sale, the director now owns 283,569 shares in the company, valued at $8,739,596.58. This represents a 9.08 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 36.20% of the stock is currently owned by corporate insiders.

MGP Ingredients Trading Up 0.4 %

Shares of MGP Ingredients stock traded up $0.12 during trading on Wednesday, hitting $28.97. The company's stock had a trading volume of 217,174 shares, compared to its average volume of 301,823. The stock has a market cap of $616.19 million, a price-to-earnings ratio of 6.02 and a beta of 0.57. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.46 and a quick ratio of 1.94. MGP Ingredients, Inc. has a 52 week low of $28.65 and a 52 week high of $92.52. The stock has a 50-day moving average price of $33.25 and a two-hundred day moving average price of $48.83.

MGP Ingredients Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.66%. The ex-dividend date is Friday, March 14th. MGP Ingredients's payout ratio is presently 31.79%.

Analyst Upgrades and Downgrades

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

MGP Ingredients 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.