Aurora Investment Counsel Sells 18,973 Shares of MGP Ingredients, Inc. (NASDAQ:MGPI)

Aurora Investment Counsel trimmed its holdings in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 65.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,809 shares of the company's stock after selling 18,973 shares during the period. Aurora Investment Counsel's holdings in MGP Ingredients were worth $386,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of MGPI. Raymond James Financial Inc. purchased a new position in MGP Ingredients in the 4th quarter valued at approximately $13,125,000. Massachusetts Financial Services Co. MA grew its stake in MGP Ingredients by 67.4% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 495,622 shares of the company's stock valued at $41,261,000 after buying an additional 199,550 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in MGP Ingredients by 1,292.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 188,693 shares of the company's stock valued at $7,429,000 after buying an additional 175,142 shares in the last quarter. FMR LLC grew its stake in MGP Ingredients by 14.2% in the 3rd quarter. FMR LLC now owns 1,102,985 shares of the company's stock valued at $91,824,000 after buying an additional 137,292 shares in the last quarter. Finally, State Street Corp grew its stake in MGP Ingredients by 22.4% in the 3rd quarter. State Street Corp now owns 717,675 shares of the company's stock valued at $59,746,000 after buying an additional 131,542 shares in the last quarter. 77.11% of the stock is currently owned by hedge funds and other institutional investors.

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MGP Ingredients Price Performance

Shares of NASDAQ MGPI traded down $0.85 during mid-day trading on Tuesday, reaching $31.57. 325,739 shares of the company were exchanged, compared to its average volume of 298,632. MGP Ingredients, Inc. has a 52 week low of $29.84 and a 52 week high of $92.52. 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 stock has a market capitalization of $671.49 million, a PE ratio of 6.56 and a beta of 0.57. The company's 50 day moving average price is $34.00 and its 200 day moving average price is $51.30.

MGP Ingredients Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend is Friday, March 14th. MGP Ingredients's dividend payout ratio is currently 31.79%.

Analyst Ratings Changes

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

Insider Transactions at MGP Ingredients

In other MGP Ingredients news, Director Karen Seaberg sold 28,304 shares of the business's stock in a transaction on Thursday, March 13th. The shares were 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 directly 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 transaction was disclosed in a document filed with the SEC, which is available at 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.