MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Purchased by Versant Capital Management Inc

Versant Capital Management Inc boosted its holdings in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 192.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 699 shares of the company’s stock after buying an additional 460 shares during the quarter. Versant Capital Management Inc’s holdings in MGP Ingredients were worth $28,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in shares of 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 acquiring an additional 186 shares in the last quarter. First Horizon Advisors Inc. raised its position in MGP Ingredients by 73.5% in the 3rd 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. Point72 DIFC Ltd boosted its stake in shares of MGP Ingredients by 2,375.6% in the 3rd quarter. Point72 DIFC Ltd now owns 1,015 shares of the company’s stock valued at $84,000 after buying an additional 974 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its position in shares of MGP Ingredients by 187.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,261 shares of the company’s stock worth $105,000 after buying an additional 823 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new position in MGP Ingredients during the 3rd quarter worth approximately $108,000. Hedge funds and other institutional investors own 77.11% of the company’s stock.

MGP Ingredients Stock Down 5.1 %

MGPI stock opened at $36.57 on Wednesday. MGP Ingredients, Inc. has a 12 month low of $36.52 and a 12 month high of $95.83. 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 company has a market cap of $802.82 million, a price-to-earnings ratio of 7.60, a price-to-earnings-growth ratio of 0.74 and a beta of 0.65. The company has a fifty day moving average price of $44.94 and a 200 day moving average price of $67.47.

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

MGP Ingredients Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Stockholders of record on Friday, November 15th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend was Friday, November 15th. MGP Ingredients’s payout ratio is currently 9.98%.

Analysts Set New Price Targets

MGPI has been the subject of a number of recent analyst reports. TD Cowen downgraded MGP Ingredients from a “buy” rating to a “hold” rating and decreased their price target for the stock from $66.00 to $50.00 in a report on Wednesday, November 6th. Loop Capital set a $75.00 target price on MGP Ingredients in a research note on Friday, October 18th. StockNews.com upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Roth Mkm reduced their price objective on shares of MGP Ingredients from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Finally, Truist Financial dropped their target price 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. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $71.29.

Insider Transactions at MGP Ingredients

In other news, Director Lori L.S. Mingus sold 7,050 shares of MGP Ingredients stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $46.03, for a total value of $324,511.50. Following the sale, the director now owns 37,373 shares of the company’s stock, valued at $1,720,279.19. The trade was a 15.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 36.20% of the company’s stock.

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.