Mariner LLC increased its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 24.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 67,374 shares of the company's stock after purchasing an additional 13,189 shares during the period. Mariner LLC owned 0.31% of MGP Ingredients worth $2,653,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. GAMMA Investing LLC increased its position in MGP Ingredients by 162.0% during the fourth quarter. GAMMA Investing LLC now owns 697 shares of the company's stock worth $27,000 after buying an additional 431 shares in the last quarter. Versant Capital Management Inc increased its position in MGP Ingredients by 192.5% during the 4th quarter. Versant Capital Management Inc now owns 699 shares of the company's stock worth $28,000 after purchasing an additional 460 shares in the last quarter. Isthmus Partners LLC raised its stake in MGP Ingredients by 1.8% in the 4th quarter. Isthmus Partners LLC now owns 38,379 shares of the company's stock valued at $1,511,000 after purchasing an additional 684 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in MGP Ingredients by 56.0% in the 4th 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. Finally, MML Investors Services LLC boosted its stake in shares of MGP Ingredients by 28.2% during the 3rd quarter. MML Investors Services LLC now owns 4,920 shares of the company's stock worth $410,000 after purchasing an additional 1,083 shares during the last quarter. Hedge funds and other institutional investors own 77.11% of the company's stock.
Insider Transactions at MGP Ingredients
In related news, Director Karen Seaberg sold 28,304 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $30.82, for a total transaction of $872,329.28. Following the completion of the sale, the director now owns 283,569 shares of the company's stock, valued at approximately $8,739,596.58. This represents a 9.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 36.20% of the company's stock.
Analyst Ratings Changes
Several equities analysts recently issued reports on MGPI shares. Lake Street Capital raised shares of MGP Ingredients from a "hold" rating to a "buy" rating and reduced their price objective for the company from $55.00 to $45.00 in a research note on Thursday, February 27th. StockNews.com cut MGP Ingredients from a "hold" rating to a "sell" rating in a report on Friday, February 28th. Finally, Wells Fargo & Company dropped their target price on MGP Ingredients from $40.00 to $37.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, MGP Ingredients has an average rating of "Moderate Buy" and an average target price of $66.00.
Read Our Latest Stock Report on MGPI
MGP Ingredients Stock Up 1.9 %
Shares of NASDAQ MGPI opened at $28.62 on Wednesday. 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 stock has a market capitalization of $608.75 million, a PE ratio of 5.95 and a beta of 0.61. The firm has a fifty day moving average of $30.22 and a 200-day moving average of $40.91. MGP Ingredients, Inc. has a 52-week low of $25.12 and a 52-week high of $92.52.
MGP Ingredients Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.48 annualized dividend and a yield of 1.68%. MGP Ingredients's dividend payout ratio is presently 31.79%.
About MGP Ingredients
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding MGPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report).
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