MGP Ingredients, Inc. (NASDAQ:MGPI - Get Free Report) shares reached a new 52-week low during trading on Monday . The stock traded as low as $32.61 and last traded at $33.16, with a volume of 15913 shares. The stock had previously closed at $32.92.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on the company. Lake Street Capital cut MGP Ingredients from a "buy" rating to a "hold" rating and dropped their target price for the company from $135.00 to $75.00 in a report on Friday, October 18th. Loop Capital set a $75.00 price target on shares of MGP Ingredients in a research report on Friday, October 18th. Wells Fargo & Company cut their price target on shares of MGP Ingredients from $58.00 to $44.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. StockNews.com upgraded MGP Ingredients from a "sell" rating to a "hold" rating in a report on Friday, November 1st. Finally, Truist Financial reduced their target price on MGP Ingredients from $85.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and four have assigned 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 target price of $71.29.
Check Out Our Latest Stock Report on MGP Ingredients
MGP Ingredients Stock Performance
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 has a market cap of $711.75 million, a P/E ratio of 6.74 and a beta of 0.62. The business has a fifty day simple moving average of $38.35 and a 200-day simple moving average of $60.16.
MGP Ingredients Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.12 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.48 annualized dividend and a dividend yield of 1.48%. MGP Ingredients's payout ratio is 9.98%.
Insider Buying and Selling
In other MGP Ingredients news, Director Lori L.S. Mingus sold 7,050 shares of MGP Ingredients stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $46.03, for a total value of $324,511.50. Following the completion of the transaction, the director now directly owns 37,373 shares of the company's stock, valued at approximately $1,720,279.19. The trade was a 15.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 36.20% of the stock is currently owned by insiders.
Institutional Investors Weigh In On MGP Ingredients
Several institutional investors and hedge funds have recently made changes to their positions in MGPI. GAMMA Investing LLC increased its holdings in shares of MGP Ingredients by 162.0% in the 4th quarter. GAMMA Investing LLC now owns 697 shares of the company's stock worth $27,000 after purchasing an additional 431 shares in the last quarter. Versant Capital Management Inc lifted its position in MGP Ingredients by 192.5% during the fourth quarter. Versant Capital Management Inc now owns 699 shares of the company's stock valued at $28,000 after purchasing an additional 460 shares during the period. Farther Finance Advisors LLC boosted its holdings in MGP Ingredients by 45.3% in the third quarter. Farther Finance Advisors LLC now owns 597 shares of the company's stock worth $50,000 after purchasing an additional 186 shares during the last quarter. First Horizon Advisors Inc. grew its position in MGP Ingredients by 73.5% in 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 period. Finally, PNC Financial Services Group Inc. raised its stake in MGP Ingredients by 56.0% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,913 shares of the company's stock valued at $75,000 after buying an additional 687 shares during the last quarter. Institutional investors own 77.11% of the company's stock.
About MGP Ingredients
(
Get 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.
Read More
Before you consider MGP Ingredients, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MGP Ingredients wasn't on the list.
While MGP Ingredients currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
