Marshall Wace LLP Has $15.17 Million Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

Marshall Wace LLP lowered its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 14.2% during the second quarter, HoldingsChannel reports. The firm owned 203,954 shares of the company’s stock after selling 33,627 shares during the quarter. Marshall Wace LLP’s holdings in MGP Ingredients were worth $15,174,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd lifted its stake in MGP Ingredients by 23.3% in the 1st quarter. Covestor Ltd now owns 795 shares of the company’s stock valued at $68,000 after purchasing an additional 150 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in shares of MGP Ingredients by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 13,680 shares of the company’s stock worth $1,178,000 after acquiring an additional 177 shares during the period. Louisiana State Employees Retirement System raised its stake in MGP Ingredients by 2.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the company’s stock valued at $588,000 after acquiring an additional 200 shares during the period. ProShare Advisors LLC lifted its holdings in MGP Ingredients by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 3,193 shares of the company’s stock valued at $275,000 after purchasing an additional 220 shares during the last quarter. Finally, CWM LLC boosted its position in MGP Ingredients by 477.9% during the second quarter. CWM LLC now owns 393 shares of the company’s stock worth $29,000 after purchasing an additional 325 shares during the period. 77.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

MGPI has been the topic of several research reports. Roth Mkm reaffirmed a “buy” rating and issued a $92.00 target price on shares of MGP Ingredients in a research report on Thursday, July 25th. StockNews.com upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Monday, August 5th.

MGP Ingredients Stock Performance

NASDAQ:MGPI opened at $82.63 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.22 and a current ratio of 6.44. MGP Ingredients, Inc. has a fifty-two week low of $68.86 and a fifty-two week high of $109.41. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 1.21 and a beta of 0.59. The stock has a fifty day moving average price of $84.96 and a 200-day moving average price of $80.64.

MGP Ingredients (NASDAQ:MGPI) last released its earnings results on Thursday, August 1st. The company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.54 by $0.17. MGP Ingredients had a net margin of 12.18% and a return on equity of 14.98%. The firm had revenue of $190.80 million for the quarter, compared to analyst estimates of $189.06 million. During the same period last year, the firm earned $1.49 EPS. The business’s quarterly revenue was down 8.7% compared to the same quarter last year. As a group, equities analysts anticipate that MGP Ingredients, Inc. will post 6.25 EPS for the current fiscal year.

MGP Ingredients Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Shareholders of record on Friday, August 16th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Friday, August 16th. MGP Ingredients’s dividend payout ratio is presently 11.09%.

Insider Activity

In related news, Director Karen Seaberg sold 12,092 shares of the company’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 completion of the sale, the director now directly owns 54,542 shares in the company, valued at approximately $4,944,232.30. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 36.20% of the company’s stock.

MGP Ingredients Company 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.