Squarepoint Ops LLC Increases Stake in MGP Ingredients, Inc. (NASDAQ:MGPI)

Squarepoint Ops LLC increased its holdings in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 8.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 78,108 shares of the company’s stock after purchasing an additional 6,323 shares during the quarter. Squarepoint Ops LLC owned approximately 0.35% of MGP Ingredients worth $5,811,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In related news, Director Karen Seaberg sold 1,109 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $90.14, for a total transaction of $99,965.26. Following the transaction, the director now owns 134,969 shares of the company’s stock, valued at $12,166,105.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 36.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have commented on MGPI. Roth Mkm reaffirmed a “buy” rating and set a $92.00 price target on shares of MGP Ingredients in a research report on Thursday, July 25th. StockNews.com raised MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Monday, August 5th.

MGP Ingredients Trading Up 0.8 %

NASDAQ:MGPI opened at $82.63 on Monday. The firm has a market cap of $1.82 billion, a P/E ratio of 19.08, a PEG ratio of 1.21 and a beta of 0.59. The company has a current ratio of 6.44, a quick ratio of 2.22 and a debt-to-equity ratio of 0.34. The stock’s 50 day simple moving average is $84.96 and its 200-day simple moving average is $80.58. MGP Ingredients, Inc. has a 12-month low of $68.86 and a 12-month high of $109.41.

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

MGP Ingredients Dividend Announcement

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

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.