MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Acquired by Townsquare Capital LLC

Townsquare Capital LLC increased its holdings in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 49.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,751 shares of the company’s stock after purchasing an additional 7,822 shares during the quarter. Townsquare Capital LLC owned 0.11% of MGP Ingredients worth $1,977,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC increased its position in shares of MGP Ingredients by 477.9% during the second quarter. CWM LLC now owns 393 shares of the company’s stock valued at $29,000 after acquiring an additional 325 shares during the last quarter. Innealta Capital LLC acquired a new stake in MGP Ingredients in the 2nd quarter valued at approximately $42,000. Farther Finance Advisors LLC raised its position in MGP Ingredients by 45.3% in the third quarter. Farther Finance Advisors LLC now owns 597 shares of the company’s stock valued at $50,000 after purchasing an additional 186 shares during the period. First Horizon Advisors Inc. lifted its stake in MGP Ingredients by 73.5% during the third quarter. First Horizon Advisors Inc. now owns 760 shares of the company’s stock worth $63,000 after purchasing an additional 322 shares in the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of MGP Ingredients during the second quarter worth $82,000. 77.11% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Insider Activity at MGP Ingredients

In other MGP Ingredients news, Director Karen Seaberg sold 1,109 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $90.14, for a total value of $99,965.26. Following the completion of the transaction, the director now owns 134,969 shares in the company, valued at $12,166,105.66. This represents a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Lori L.S. Mingus sold 7,050 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $46.03, for a total value of $324,511.50. Following the transaction, the director now directly owns 37,373 shares in the company, valued at approximately $1,720,279.19. The trade was a 15.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 8,610 shares of company stock valued at $445,155 over the last three months. 36.20% of the stock is owned by corporate insiders.

MGP Ingredients Stock Up 0.6 %

Shares of NASDAQ:MGPI opened at $46.28 on Monday. MGP Ingredients, Inc. has a fifty-two week low of $43.48 and a fifty-two week high of $102.42. The firm’s 50 day moving average price is $62.30 and its 200 day moving average price is $73.86. The company has a quick ratio of 1.94, a current ratio of 6.46 and a debt-to-equity ratio of 0.31. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 9.62, a price-to-earnings-growth ratio of 0.76 and a beta of 0.66.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.02. The business had revenue of $161.50 million for the quarter, compared to analyst estimates of $161.55 million. MGP Ingredients had a net margin of 14.44% and a return on equity of 14.39%. The company’s revenue was down 23.7% on a year-over-year basis. During the same period last year, the business earned $1.34 EPS. As a group, equities research analysts predict that MGP Ingredients, Inc. will post 5.57 earnings per share for the current fiscal year.

MGP Ingredients Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Friday, November 15th. MGP Ingredients’s payout ratio is 9.98%.

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.