Insider Selling: MGP Ingredients, Inc. (NASDAQ:MGPI) Director Sells 451 Shares of Stock

MGP Ingredients, Inc. (NASDAQ:MGPI - Get Free Report) Director Karen Seaberg sold 451 shares of MGP Ingredients stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $45.85, for a total transaction of $20,678.35. Following the completion of the transaction, the director now directly owns 119,105 shares in the company, valued at approximately $5,460,964.25. The trade was a 0.38 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Karen Seaberg also recently made the following trade(s):

• On Wednesday, September 4th, Karen Seaberg sold 1,109 shares of MGP Ingredients stock. The stock was sold at an average price of $90.14, for a total value of $99,965.26.

MGP Ingredients Stock Up 0.6 %

Shares of NASDAQ MGPI traded up $0.29 during trading hours on Friday, hitting $46.28. The company had a trading volume of 299,172 shares, compared to its average volume of 254,879. MGP Ingredients, Inc. has a 1-year low of $43.48 and a 1-year high of $102.42. 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 firm's 50 day moving average is $62.30 and its 200-day moving average is $73.92. The stock has a market capitalization of $1.02 billion, a P/E ratio of 9.62, a price-to-earnings-growth ratio of 0.75 and a beta of 0.66.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.29 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.02. The firm had revenue of $161.50 million during the quarter, compared to analysts' expectations of $161.55 million. MGP Ingredients had a net margin of 14.44% and a return on equity of 14.39%. The company's revenue for the quarter was down 23.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.34 earnings per share. On average, analysts expect that MGP Ingredients, Inc. will post 5.57 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend was Friday, November 15th. MGP Ingredients's dividend payout ratio (DPR) is presently 9.98%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MGPI. Lake Street Capital cut MGP Ingredients from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $135.00 to $75.00 in a research report on Friday, October 18th. Loop Capital set a $75.00 price target on MGP Ingredients in a research report on Friday, October 18th. Truist Financial lowered their price objective on shares of MGP Ingredients from $85.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, November 1st. StockNews.com raised shares of MGP Ingredients from a "sell" rating to a "hold" rating in a research report on Friday, November 1st. Finally, Roth Mkm decreased their target price on shares of MGP Ingredients from $69.00 to $65.00 and set a "buy" rating for the company in a research report on Monday, November 4th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, MGP Ingredients presently has a consensus rating of "Moderate Buy" and an average price target of $76.67.

Institutional Trading of MGP Ingredients

Hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of MGP Ingredients by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 1,135,093 shares of the company's stock worth $97,766,000 after buying an additional 8,770 shares during the period. FMR LLC lifted its position in MGP Ingredients by 14.2% during the third quarter. FMR LLC now owns 1,102,985 shares of the company's stock worth $91,824,000 after acquiring an additional 137,292 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of MGP Ingredients by 9.5% during the second quarter. Dimensional Fund Advisors LP now owns 790,339 shares of the company's stock worth $58,801,000 after acquiring an additional 68,278 shares during the period. State Street Corp grew its position in shares of MGP Ingredients by 22.4% in the third quarter. State Street Corp now owns 717,675 shares of the company's stock valued at $59,746,000 after purchasing an additional 131,542 shares during the last quarter. Finally, Ariel Investments LLC increased its stake in shares of MGP Ingredients by 92.7% during the second quarter. Ariel Investments LLC now owns 515,796 shares of the company's stock worth $38,375,000 after purchasing an additional 248,076 shares during the period. 77.11% of the stock is owned by institutional investors and hedge funds.

About MGP Ingredients

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.