CenterBook Partners LP Boosts Stock Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

CenterBook Partners LP grew its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 238.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 83,758 shares of the company's stock after purchasing an additional 58,999 shares during the period. CenterBook Partners LP owned approximately 0.38% of MGP Ingredients worth $3,298,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake 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 purchasing an additional 431 shares during the period. Versant Capital Management Inc boosted its position in shares of MGP Ingredients by 192.5% during the fourth quarter. Versant Capital Management Inc now owns 699 shares of the company's stock valued at $28,000 after buying an additional 460 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of MGP Ingredients by 56.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,913 shares of the company's stock valued at $75,000 after buying an additional 687 shares during the last quarter. AlphaQuest LLC raised its holdings in shares of MGP Ingredients by 1,167.8% in the fourth quarter. AlphaQuest LLC now owns 3,778 shares of the company's stock worth $149,000 after buying an additional 3,480 shares during the period. Finally, Quantinno Capital Management LP bought a new stake in shares of MGP Ingredients during the 3rd quarter worth approximately $235,000. 77.11% of the stock is owned by institutional investors.

MGP Ingredients Stock Down 0.1 %

Shares of MGPI stock traded down $0.04 during trading hours on Tuesday, reaching $27.11. 157,020 shares of the company's stock were exchanged, compared to its average volume of 320,589. MGP Ingredients, Inc. has a fifty-two week low of $25.12 and a fifty-two week high of $92.52. The stock's 50 day moving average is $30.83 and its 200-day moving average is $42.91. The company has a current ratio of 6.46, a quick ratio of 1.94 and a debt-to-equity ratio of 0.31. The company has a market cap of $576.63 million, a price-to-earnings ratio of 5.64 and a beta of 0.61.

MGP Ingredients Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Friday, March 14th. MGP Ingredients's dividend payout ratio (DPR) is presently 31.79%.

Insiders Place Their Bets

In other MGP Ingredients news, Director Karen Seaberg sold 28,304 shares of MGP Ingredients 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 completion of the transaction, the director now owns 283,569 shares in the company, valued at approximately $8,739,596.58. This trade represents a 9.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 36.20% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on MGPI shares. Roth Mkm lowered their price target on MGP Ingredients from $65.00 to $60.00 and set a "buy" rating for the company in a report on Monday, December 23rd. Lake Street Capital raised MGP Ingredients from a "hold" rating to a "buy" rating and dropped their price target for the stock from $55.00 to $45.00 in a research report on Thursday, February 27th. Wells Fargo & Company decreased their price objective on MGP Ingredients from $40.00 to $37.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Finally, StockNews.com cut shares of 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 given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, MGP Ingredients has an average rating of "Moderate Buy" and a consensus price target of $66.00.

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.