12,134 Shares in MGP Ingredients, Inc. (NASDAQ:MGPI) Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP purchased a new stake in MGP Ingredients, Inc. (NASDAQ:MGPI) in the 3rd quarter, according to its most recent filing with the SEC. The fund purchased 12,134 shares of the company’s stock, valued at approximately $1,010,000. GSA Capital Partners LLP owned about 0.06% of MGP Ingredients as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in MGPI. Covestor Ltd increased its stake in MGP Ingredients by 23.3% in the first 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 increased 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 valued at $1,178,000 after acquiring an additional 177 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of MGP Ingredients by 45.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 597 shares of the company’s stock worth $50,000 after acquiring an additional 186 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of MGP Ingredients by 2.6% in the second quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the company’s stock worth $588,000 after acquiring an additional 200 shares during the last quarter. Finally, ProShare Advisors LLC grew its holdings in MGP Ingredients by 7.4% in the first 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 period. Hedge funds and other institutional investors own 77.11% of the company’s stock.

Analysts Set New Price Targets

MGPI has been the topic of a number of recent analyst reports. Loop Capital set a $75.00 price target on shares of MGP Ingredients in a research note on Friday, October 18th. Roth Mkm cut their target price on MGP Ingredients from $69.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, November 4th. TD Cowen downgraded MGP Ingredients from a “buy” rating to a “hold” rating and lowered their price target for the company from $66.00 to $50.00 in a research report on Wednesday, November 6th. Lake Street Capital lowered MGP Ingredients from a “buy” rating to a “hold” rating and dropped their price target for the stock from $135.00 to $75.00 in a research note on Friday, October 18th. Finally, Truist Financial reduced their price objective on MGP Ingredients from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $76.67.

Insider Transactions at MGP Ingredients

In other news, Director Karen Seaberg sold 12,092 shares of the firm’s stock in a transaction dated 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 $4,944,232.30. This trade represents a 18.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 36.20% of the company’s stock.

MGP Ingredients Stock Down 1.3 %

Shares of MGP Ingredients stock opened at $49.65 on Friday. The company has a fifty day moving average price of $69.75 and a 200 day moving average price of $76.33. The company has a current ratio of 6.46, a quick ratio of 1.94 and a debt-to-equity ratio of 0.31. MGP Ingredients, Inc. has a twelve month low of $45.44 and a twelve month high of $102.42. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 0.83 and a beta of 0.66.

MGP Ingredients (NASDAQ:MGPI) last issued 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 company had revenue of $161.50 million during the quarter, compared to the consensus estimate of $161.55 million. MGP Ingredients had a return on equity of 14.39% and a net margin of 14.44%. The company’s revenue was down 23.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.34 earnings per share. Equities research analysts forecast that MGP Ingredients, Inc. will post 5.57 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a dividend of $0.12 per share. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.97%. MGP Ingredients’s dividend payout ratio is currently 9.98%.

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.