Villanova Investment Management Co LLC lifted its stake in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 109.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,696 shares of the company's stock after purchasing an additional 24,966 shares during the quarter. MGP Ingredients accounts for about 1.7% of Villanova Investment Management Co LLC's investment portfolio, making the stock its 26th largest holding. Villanova Investment Management Co LLC owned 0.22% of MGP Ingredients worth $1,878,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC raised its stake in MGP Ingredients by 162.0% during the 4th quarter. GAMMA Investing LLC now owns 697 shares of the company's stock valued at $27,000 after purchasing an additional 431 shares during the period. Versant Capital Management Inc raised 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 buying an additional 460 shares during the period. Isthmus Partners LLC lifted 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 worth $1,511,000 after acquiring an additional 684 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake 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 worth $75,000 after acquiring an additional 687 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its position in MGP Ingredients by 187.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,261 shares of the company's stock worth $105,000 after acquiring an additional 823 shares during the period. Hedge funds and other institutional investors own 77.11% of the company's stock.
Analyst Ratings Changes
A number of analysts have recently issued reports on the stock. Lake Street Capital raised shares of MGP Ingredients from a "hold" rating to a "buy" rating and reduced their price target for the stock from $55.00 to $45.00 in a research report on Thursday, February 27th. Roth Mkm decreased their target price on shares of MGP Ingredients from $65.00 to $60.00 and set a "buy" rating for the company in a research note on Monday, December 23rd. 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 report on Wednesday. Finally, StockNews.com lowered MGP Ingredients from a "hold" rating to a "sell" rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $66.00.
Get Our Latest Stock Analysis on MGPI
MGP Ingredients Stock Up 0.8 %
Shares of MGPI traded up $0.21 during mid-day trading on Friday, hitting $27.09. 519,873 shares of the company's stock were exchanged, compared to its average volume of 314,567. The stock has a market cap of $576.20 million, a price-to-earnings ratio of 5.63 and a beta of 0.61. The firm has a fifty day moving average of $32.07 and a two-hundred day moving average of $46.01. 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 twelve month low of $25.62 and a twelve month high of $92.52.
MGP Ingredients Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.12 per share. 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 currently 31.79%.
Insiders Place Their Bets
In other news, Director Karen Seaberg sold 28,304 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $30.82, for a total transaction of $872,329.28. Following the transaction, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 36.20% of the company's stock.
MGP Ingredients Company Profile
(
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.
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