MGP Ingredients, Inc. (NASDAQ:MGPI) Director Sells $872,329.28 in Stock

MGP Ingredients, Inc. (NASDAQ:MGPI - Get Free Report) Director Karen Seaberg sold 28,304 shares of the company's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $30.82, for a total value of $872,329.28. Following the sale, the director now owns 283,569 shares of the company's stock, valued at $8,739,596.58. This trade represents a 9.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, March 11th, Karen Seaberg acquired 5,348 shares of MGP Ingredients stock. The shares were purchased at an average price of $32.59 per share, with a total value of $174,291.32.

MGP Ingredients Price Performance

Shares of MGP Ingredients stock traded up $1.55 during trading hours on Monday, reaching $32.42. The stock had a trading volume of 391,509 shares, compared to its average volume of 298,530. The stock's 50 day moving average is $34.12 and its 200 day moving average is $51.71. The company has a current ratio of 6.46, a quick ratio of 1.94 and a debt-to-equity ratio of 0.31. MGP Ingredients, Inc. has a twelve month low of $29.84 and a twelve month high of $92.52. The firm has a market capitalization of $689.57 million, a PE ratio of 6.74 and a beta of 0.57.

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MGP Ingredients Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Friday, March 14th. MGP Ingredients's payout ratio is currently 31.79%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in MGPI. Farther Finance Advisors LLC increased its holdings in MGP Ingredients by 45.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 597 shares of the company's stock worth $50,000 after acquiring an additional 186 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of MGP Ingredients by 73.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 760 shares of the company's stock worth $63,000 after purchasing an additional 322 shares during the last quarter. GAMMA Investing LLC lifted its stake in MGP Ingredients by 162.0% in 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 in the last quarter. Versant Capital Management Inc boosted 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 buying an additional 460 shares during the last quarter. Finally, Isthmus Partners LLC boosted its holdings in MGP Ingredients by 1.8% in the 4th quarter. Isthmus Partners LLC now owns 38,379 shares of the company's stock worth $1,511,000 after buying an additional 684 shares during the last quarter. 77.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Wells Fargo & Company reduced their target price on MGP Ingredients from $58.00 to $44.00 and set an "overweight" rating on the stock in a research report on Tuesday, January 7th. StockNews.com cut MGP Ingredients from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. Lake Street Capital raised MGP Ingredients from a "hold" rating to a "buy" rating and cut their price objective for the company from $55.00 to $45.00 in a report on Thursday, February 27th. Finally, Roth Mkm decreased their target price on 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 issued a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, MGP Ingredients presently has an average rating of "Moderate Buy" and an average price target of $67.00.

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.