ExodusPoint Capital Management LP Has $2.39 Million Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

ExodusPoint Capital Management LP raised its stake in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 57.0% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 60,757 shares of the company's stock after buying an additional 22,058 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.28% of MGP Ingredients worth $2,392,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MGPI. Verition Fund Management LLC boosted its stake in MGP Ingredients by 39.5% during the 3rd quarter. Verition Fund Management LLC now owns 11,044 shares of the company's stock valued at $919,000 after purchasing an additional 3,125 shares during the period. Janus Henderson Group PLC boosted its position in shares of MGP Ingredients by 15.8% during the third quarter. Janus Henderson Group PLC now owns 23,028 shares of the company's stock worth $1,917,000 after buying an additional 3,148 shares during the period. Point72 Asset Management L.P. bought a new position in MGP Ingredients in the 3rd quarter worth approximately $3,680,000. Point72 DIFC Ltd increased its position in MGP Ingredients by 2,375.6% in the 3rd quarter. Point72 DIFC Ltd now owns 1,015 shares of the company's stock valued at $84,000 after acquiring an additional 974 shares during the period. Finally, Quantinno Capital Management LP bought a new stake in MGP Ingredients during the 3rd quarter valued at $235,000. Institutional investors own 77.11% of the company's stock.

Analyst Ratings Changes

MGPI has been the topic of a number of research analyst reports. Lake Street Capital raised MGP Ingredients from a "hold" rating to a "buy" rating and lowered their price target for the company from $55.00 to $45.00 in a report on Thursday, February 27th. Wells Fargo & Company lowered their target price on shares of MGP Ingredients from $40.00 to $37.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. StockNews.com lowered shares of MGP Ingredients from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. Finally, Roth Mkm lowered their price objective on shares of MGP Ingredients from $65.00 to $60.00 and set a "buy" rating on the stock in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, MGP Ingredients currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.00.

MGP Ingredients Price Performance

Shares of NASDAQ:MGPI traded up $0.28 during trading hours on Friday, hitting $28.30. 296,513 shares of the company's stock traded hands, compared to its average volume of 320,267. The company's fifty day simple moving average is $30.97 and its two-hundred day simple moving average is $43.56. The company has a market cap of $601.94 million, a price-to-earnings ratio of 5.88 and a beta of 0.61. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.94 and a current ratio of 6.46. MGP Ingredients, Inc. has a 52 week low of $25.12 and a 52 week high of $92.52.

MGP Ingredients Announces Dividend

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

Insiders Place Their Bets

In other MGP Ingredients news, Director Karen Seaberg sold 28,304 shares of the business'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 approximately $8,739,596.58. The trade was a 9.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 36.20% of the stock is currently owned by company 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.