Champlain Investment Partners LLC Reduces Stock Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

Champlain Investment Partners LLC cut its holdings in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 22.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,193,147 shares of the company's stock after selling 352,311 shares during the quarter. Champlain Investment Partners LLC owned approximately 5.44% of MGP Ingredients worth $46,974,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. GAMMA Investing LLC grew its position in shares of MGP Ingredients by 162.0% during the 4th quarter. GAMMA Investing LLC now owns 697 shares of the company's stock valued at $27,000 after buying an additional 431 shares during the last quarter. Versant Capital Management Inc raised its holdings in MGP Ingredients by 192.5% in the 4th quarter. Versant Capital Management Inc now owns 699 shares of the company's stock worth $28,000 after acquiring an additional 460 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of MGP Ingredients by 56.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,913 shares of the company's stock valued at $75,000 after purchasing an additional 687 shares in the last quarter. AlphaQuest LLC grew its stake in MGP Ingredients by 1,167.8% during 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 last quarter. Finally, Virtu Financial LLC bought a new position in MGP Ingredients in the third quarter valued at about $373,000. 77.11% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MGPI. StockNews.com cut shares of MGP Ingredients from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. Wells Fargo & Company reduced their price target on MGP Ingredients from $40.00 to $37.00 and set an "overweight" rating on the stock in a report on Wednesday, April 2nd. Finally, Lake Street Capital raised shares of MGP Ingredients from a "hold" rating to a "buy" rating and decreased their price target for the company from $55.00 to $45.00 in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $66.00.

Insider Activity at MGP Ingredients

In other news, Director Karen Seaberg sold 28,304 shares of the company's stock in a transaction that occurred 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 transaction, the director now directly owns 283,569 shares in the company, valued at approximately $8,739,596.58. This represents a 9.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 36.20% of the stock is owned by company insiders.

MGP Ingredients Price Performance

Shares of MGPI stock traded down $0.32 during trading hours on Wednesday, hitting $28.30. The stock had a trading volume of 87,706 shares, compared to its average volume of 324,991. The stock has a market capitalization of $601.94 million, a price-to-earnings ratio of 5.88 and a beta of 0.61. MGP Ingredients, Inc. has a one year low of $25.12 and a one year high of $92.52. The stock's 50-day moving average price is $30.22 and its two-hundred day moving average price is $40.91. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a $0.12 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.70%. MGP Ingredients's payout ratio is currently 31.79%.

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.