New Age Alpha Advisors LLC Makes New Investment in MGP Ingredients, Inc. (NASDAQ:MGPI)

New Age Alpha Advisors LLC purchased a new position in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 28,970 shares of the company's stock, valued at approximately $1,141,000. New Age Alpha Advisors LLC owned about 0.13% of MGP Ingredients at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of MGPI. GAMMA Investing LLC lifted its stake in MGP Ingredients by 162.0% in the fourth quarter. GAMMA Investing LLC now owns 697 shares of the company's stock valued at $27,000 after acquiring an additional 431 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of MGP Ingredients by 192.5% in the 4th 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 last quarter. Point72 DIFC Ltd boosted its holdings in MGP Ingredients by 2,375.6% in the third quarter. Point72 DIFC Ltd now owns 1,015 shares of the company's stock worth $84,000 after purchasing an additional 974 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in MGP Ingredients by 187.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,261 shares of the company's stock worth $105,000 after buying an additional 823 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in MGP Ingredients by 56.0% during the fourth 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 in the last quarter. 77.11% of the stock is currently owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other news, Director Karen Seaberg bought 5,348 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was acquired at an average cost of $32.59 per share, for a total transaction of $174,291.32. Following the completion of the purchase, the director now owns 358,899 shares of the company's stock, valued at $11,696,518.41. This trade represents a 1.51 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 36.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MGPI. Roth Mkm cut their price objective on MGP Ingredients from $65.00 to $60.00 and set a "buy" rating on the stock in a research note on Monday, December 23rd. Wells Fargo & Company reduced their price objective on shares of MGP Ingredients from $40.00 to $37.00 and set an "overweight" rating for the company in a research note on Wednesday. StockNews.com lowered shares of 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 cut their target price for the stock from $55.00 to $45.00 in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, MGP Ingredients has an average rating of "Moderate Buy" and an average target price of $66.00.

MGP Ingredients Stock Performance

Shares of NASDAQ:MGPI traded up $0.21 on Friday, hitting $27.09. 519,873 shares of the company were exchanged, compared to its average volume of 314,567. The company's 50 day moving average price is $32.07 and its two-hundred day moving average price is $46.01. The firm has a market capitalization of $576.20 million, a price-to-earnings ratio of 5.63 and a beta of 0.61. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.94 and a current ratio of 6.46. MGP Ingredients, Inc. has a one year low of $25.62 and a one year 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 issued a $0.12 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.48 annualized dividend and a yield of 1.77%. MGP Ingredients's dividend payout ratio (DPR) is 31.79%.

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.