MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Sold by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC decreased its position in MGP Ingredients, Inc. (NASDAQ:MGPI) by 57.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,192 shares of the company’s stock after selling 12,463 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in MGP Ingredients were worth $684,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MGPI. Scout Investments Inc. raised its position in shares of MGP Ingredients by 30.5% in the first quarter. Scout Investments Inc. now owns 85,820 shares of the company’s stock valued at $7,325,000 after buying an additional 20,073 shares during the last quarter. Mutual of America Capital Management LLC lifted its stake in shares of MGP Ingredients by 239.2% during the 1st quarter. Mutual of America Capital Management LLC now owns 64,557 shares of the company’s stock worth $5,560,000 after purchasing an additional 45,527 shares during the period. Southernsun Asset Management LLC boosted its holdings in shares of MGP Ingredients by 8.9% during the fourth quarter. Southernsun Asset Management LLC now owns 470,661 shares of the company’s stock worth $46,370,000 after purchasing an additional 38,404 shares during the last quarter. Congress Asset Management Co. MA grew its position in shares of MGP Ingredients by 21.7% in the first quarter. Congress Asset Management Co. MA now owns 387,003 shares of the company’s stock valued at $33,333,000 after purchasing an additional 68,950 shares during the period. Finally, Confluence Investment Management LLC acquired a new position in MGP Ingredients in the first quarter valued at $3,026,000. 77.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Director Karen Seaberg sold 1,109 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $90.14, for a total value of $99,965.26. Following the completion of the sale, the director now directly owns 134,969 shares in the company, valued at approximately $12,166,105.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 36.20% of the company’s stock.

MGP Ingredients Price Performance

Shares of MGP Ingredients stock opened at $80.43 on Friday. The business’s fifty day moving average price is $85.15 and its 200 day moving average price is $80.60. MGP Ingredients, Inc. has a twelve month low of $68.86 and a twelve month high of $104.73. 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 has a market capitalization of $1.77 billion, a P/E ratio of 18.58, a PEG ratio of 1.21 and a beta of 0.59.

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

MGP Ingredients Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Stockholders of record on Friday, August 16th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date of this dividend 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.