MGP Ingredients, Inc. (NASDAQ:MGPI - Get Free Report) Director Karen Seaberg sold 28,304 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was 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 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Karen Seaberg also recently made the following trade(s):
- On Tuesday, March 11th, Karen Seaberg purchased 5,348 shares of MGP Ingredients stock. The shares were acquired at an average cost of $32.59 per share, with a total value of $174,291.32.
MGP Ingredients Stock Performance
Shares of MGPI opened at $30.83 on Friday. The company has a market capitalization of $655.75 million, a price-to-earnings ratio of 6.41 and a beta of 0.57. MGP Ingredients, Inc. has a 52-week low of $29.84 and a 52-week high of $92.52. The stock has a 50 day moving average price of $34.43 and a 200 day moving average price of $52.82. 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 Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Friday, March 14th. MGP Ingredients's dividend payout ratio is currently 31.79%.
Institutional Trading of MGP Ingredients
A number of hedge funds have recently added to or reduced their stakes in MGPI. Farther Finance Advisors LLC raised its holdings in shares of MGP Ingredients by 45.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 597 shares of the company's stock valued at $50,000 after buying an additional 186 shares during the period. GAMMA Investing LLC raised its position in shares of MGP Ingredients by 162.0% during 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 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. First Horizon Advisors Inc. grew its stake in MGP Ingredients by 73.5% in the third quarter. First Horizon Advisors Inc. now owns 760 shares of the company's stock valued at $63,000 after purchasing an additional 322 shares in the last quarter. Finally, Point72 DIFC Ltd boosted its stake in shares of MGP Ingredients by 2,375.6% during the 3rd quarter. Point72 DIFC Ltd now owns 1,015 shares of the company's stock worth $84,000 after acquiring an additional 974 shares in the last quarter. 77.11% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on MGPI. Roth Mkm reduced their price target 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. Lake Street Capital upgraded shares of MGP Ingredients from a "hold" rating to a "buy" rating and cut their price target for the stock from $55.00 to $45.00 in a report on Thursday, February 27th. Wells Fargo & Company lowered their price objective on shares of MGP Ingredients from $58.00 to $44.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Finally, StockNews.com downgraded shares of MGP Ingredients from a "hold" rating to a "sell" rating in a report on Friday, February 28th. 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 company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $67.00.
Check Out Our Latest Report on MGP Ingredients
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.
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