Marshall Wace LLP Purchases 161,295 Shares of MGP Ingredients, Inc. (NASDAQ:MGPI)

Marshall Wace LLP lifted its holdings in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 90.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 340,453 shares of the company's stock after acquiring an additional 161,295 shares during the period. Marshall Wace LLP owned 1.55% of MGP Ingredients worth $13,404,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of MGP Ingredients by 162.0% in the fourth quarter. GAMMA Investing LLC now owns 697 shares of the company's stock worth $27,000 after purchasing an additional 431 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of MGP Ingredients by 192.5% in the fourth quarter. Versant Capital Management Inc now owns 699 shares of the company's stock worth $28,000 after purchasing an additional 460 shares during the last quarter. PNC Financial Services Group Inc. increased 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 worth $75,000 after acquiring an additional 687 shares during the period. AlphaQuest LLC lifted its stake in shares of MGP Ingredients by 1,167.8% in the 4th quarter. AlphaQuest LLC now owns 3,778 shares of the company's stock valued at $149,000 after purchasing an additional 3,480 shares during the period. Finally, Aigen Investment Management LP acquired a new position in shares of MGP Ingredients during the 4th quarter worth approximately $254,000. Institutional investors own 77.11% of the company's stock.

MGP Ingredients Stock Performance

NASDAQ MGPI traded down $0.22 during trading on Wednesday, hitting $28.40. The company's stock had a trading volume of 311,883 shares, compared to its average volume of 326,384. The firm has a 50 day moving average price of $30.13 and a 200 day moving average price of $40.83. The firm has a market cap of $604.07 million, a P/E ratio of 5.90 and a beta of 0.61. The company has a quick ratio of 1.94, a current ratio of 6.46 and a debt-to-equity ratio of 0.31. 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 disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Friday, March 14th. MGP Ingredients's dividend payout ratio is currently 31.79%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on MGPI shares. Wells Fargo & Company lowered their price target on shares of MGP Ingredients from $40.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. StockNews.com downgraded MGP Ingredients from a "hold" rating to a "sell" rating in a research note on Friday, February 28th. Finally, Lake Street Capital raised shares of MGP Ingredients from a "hold" rating to a "buy" rating and dropped their target price for the company from $55.00 to $45.00 in a report on Thursday, February 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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 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 $8,739,596.58. This represents a 9.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 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.