Quantbot Technologies LP Purchases New Holdings in MGP Ingredients, Inc. (NASDAQ:MGPI)

Quantbot Technologies LP bought a new stake in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 29,967 shares of the company's stock, valued at approximately $1,180,000. Quantbot Technologies LP owned 0.14% of MGP Ingredients at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. FMR LLC lifted its holdings in MGP Ingredients by 14.2% during the 3rd quarter. FMR LLC now owns 1,102,985 shares of the company's stock worth $91,824,000 after buying an additional 137,292 shares during the last quarter. State Street Corp grew its holdings in shares of MGP Ingredients by 22.4% during the third quarter. State Street Corp now owns 717,675 shares of the company's stock valued at $59,746,000 after purchasing an additional 131,542 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of MGP Ingredients in the 4th quarter worth approximately $13,125,000. Assenagon Asset Management S.A. grew its stake in MGP Ingredients by 1,292.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 188,693 shares of the company's stock worth $7,429,000 after buying an additional 175,142 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in MGP Ingredients by 22.4% in the fourth quarter. Bank of New York Mellon Corp now owns 177,291 shares of the company's stock worth $6,980,000 after buying an additional 32,488 shares during the period. 77.11% of the stock is owned by institutional investors and hedge funds.

MGP Ingredients Stock Performance

Shares of NASDAQ MGPI traded down $0.40 during mid-day trading on Friday, hitting $29.22. The company had a trading volume of 238,038 shares, compared to its average volume of 309,218. MGP Ingredients, Inc. has a 12 month low of $28.65 and a 12 month high of $92.52. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.46 and a quick ratio of 1.94. The firm has a market cap of $621.51 million, a P/E ratio of 6.07 and a beta of 0.57. The business's 50-day simple moving average is $32.86 and its 200-day simple moving average is $47.96.

MGP Ingredients Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.12 per share. The ex-dividend date was Friday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.64%. MGP Ingredients's dividend payout ratio (DPR) is presently 31.79%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MGPI. StockNews.com downgraded shares of MGP Ingredients from a "hold" rating to a "sell" rating in a research report on Friday, February 28th. Lake Street Capital upgraded MGP Ingredients from a "hold" rating to a "buy" rating and lowered their price target for the company from $55.00 to $45.00 in a research report on Thursday, February 27th. Roth Mkm dropped their target price on shares of MGP Ingredients from $65.00 to $60.00 and set a "buy" rating on the stock in a report on Monday, December 23rd. Finally, Wells Fargo & Company reduced their target price on shares of MGP Ingredients from $58.00 to $44.00 and set an "overweight" rating for the company in a report on Tuesday, January 7th. One investment 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. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $67.00.

Insider Activity at MGP Ingredients

In other news, Director Karen Seaberg sold 28,304 shares of MGP Ingredients stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $30.82, for a total value of $872,329.28. Following the completion of the transaction, the director now owns 283,569 shares in the company, valued at approximately $8,739,596.58. The trade was a 9.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 36.20% of the stock is owned by insiders.

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.