GSA Capital Partners LLP Invests $1.01 Million in MGP Ingredients, Inc. (NASDAQ:MGPI)

GSA Capital Partners LLP purchased a new stake in MGP Ingredients, Inc. (NASDAQ:MGPI) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 12,134 shares of the company’s stock, valued at approximately $1,010,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Natixis Advisors LLC increased its position in shares of MGP Ingredients by 107.9% in the 2nd quarter. Natixis Advisors LLC now owns 25,686 shares of the company’s stock worth $1,911,000 after purchasing an additional 13,332 shares during the last quarter. ZWJ Investment Counsel Inc. increased its holdings in MGP Ingredients by 2.5% in the third quarter. ZWJ Investment Counsel Inc. now owns 293,580 shares of the company’s stock valued at $24,440,000 after buying an additional 7,042 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in MGP Ingredients by 20.3% during the second quarter. Envestnet Asset Management Inc. now owns 113,672 shares of the company’s stock valued at $8,457,000 after buying an additional 19,203 shares in the last quarter. Earnest Partners LLC lifted its holdings in MGP Ingredients by 16.0% during the 2nd quarter. Earnest Partners LLC now owns 109,226 shares of the company’s stock worth $8,126,000 after buying an additional 15,090 shares during the last quarter. Finally, Ariel Investments LLC grew its position in shares of MGP Ingredients by 92.7% in the 2nd quarter. Ariel Investments LLC now owns 515,796 shares of the company’s stock worth $38,375,000 after acquiring an additional 248,076 shares in the last quarter. 77.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on MGPI shares. StockNews.com raised MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Roth Mkm dropped their target price on shares of MGP Ingredients from $69.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Lake Street Capital lowered shares of MGP Ingredients from a “buy” rating to a “hold” rating and decreased their price target for the company from $135.00 to $75.00 in a report on Friday, October 18th. Loop Capital set a $75.00 price objective on shares of MGP Ingredients in a research report on Friday, October 18th. Finally, Truist Financial cut their target price on shares of MGP Ingredients from $85.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.67.

MGP Ingredients Stock Down 1.3 %

MGP Ingredients stock opened at $49.65 on Friday. 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 $45.44 and a one year high of $102.42. The company has a 50-day simple moving average of $69.75 and a 200-day simple moving average of $76.33. The firm has a market capitalization of $1.09 billion, a P/E ratio of 10.32, a P/E/G ratio of 0.83 and a beta of 0.66.

MGP Ingredients (NASDAQ:MGPI) last posted its earnings results on Thursday, October 31st. The company reported $1.29 EPS for the quarter, topping the consensus estimate of $1.27 by $0.02. The firm had revenue of $161.50 million during the quarter, compared to analysts’ expectations of $161.55 million. MGP Ingredients had a net margin of 14.44% and a return on equity of 14.39%. MGP Ingredients’s quarterly revenue was down 23.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.34 EPS. As a group, equities analysts expect that MGP Ingredients, Inc. will post 5.57 earnings per share for the current year.

MGP Ingredients Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.97%. The ex-dividend date is Friday, November 15th. MGP Ingredients’s payout ratio is currently 9.98%.

Insiders Place Their Bets

In other news, Director Karen Seaberg sold 12,092 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $90.65, for a total transaction of $1,096,139.80. Following the transaction, the director now directly owns 54,542 shares of the company’s stock, valued at approximately $4,944,232.30. This trade represents a 18.15 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 36.20% of the stock is currently owned by insiders.

MGP Ingredients 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.