Aigen Investment Management LP Buys 2,664 Shares of MGP Ingredients, Inc. (NASDAQ:MGPI)

Aigen Investment Management LP increased its holdings in MGP Ingredients, Inc. (NASDAQ:MGPIFree Report) by 54.3% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 7,572 shares of the company’s stock after buying an additional 2,664 shares during the quarter. Aigen Investment Management LP’s holdings in MGP Ingredients were worth $746,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Mariner LLC grew its stake in shares of MGP Ingredients by 0.3% during the 3rd quarter. Mariner LLC now owns 54,569 shares of the company’s stock valued at $5,756,000 after purchasing an additional 142 shares during the period. KLR Investment Advisors LLC grew its stake in shares of MGP Ingredients by 5.8% during the 3rd quarter. KLR Investment Advisors LLC now owns 2,911 shares of the company’s stock valued at $282,000 after acquiring an additional 159 shares during the period. Cerity Partners LLC grew its stake in shares of MGP Ingredients by 9.3% during the 4th quarter. Cerity Partners LLC now owns 2,186 shares of the company’s stock valued at $215,000 after acquiring an additional 186 shares during the period. Illinois Municipal Retirement Fund grew its stake in shares of MGP Ingredients by 2.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 9,366 shares of the company’s stock valued at $923,000 after acquiring an additional 206 shares during the period. Finally, Thoroughbred Financial Services LLC boosted its stake in MGP Ingredients by 14.2% in the 4th quarter. Thoroughbred Financial Services LLC now owns 2,372 shares of the company’s stock worth $233,000 after purchasing an additional 295 shares during the period. 77.11% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MGPI. StockNews.com cut MGP Ingredients from a “hold” rating to a “sell” rating in a report on Friday, April 26th. Wedbush reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of MGP Ingredients in a research report on Monday, April 29th. Finally, Roth Mkm dropped their price target on MGP Ingredients from $95.00 to $92.00 and set a “buy” rating on the stock in a research report on Friday, May 3rd.

Read Our Latest Stock Report on MGPI

Insider Buying and Selling at MGP Ingredients

In related news, Director Donn S. Lux sold 22,000 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $82.50, for a total value of $1,815,000.00. Following the sale, the director now owns 2,673,264 shares in the company, valued at approximately $220,544,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Donn S. Lux sold 22,000 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $82.50, for a total value of $1,815,000.00. Following the completion of the sale, the director now directly owns 2,673,264 shares of the company’s stock, valued at approximately $220,544,280. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Donn S. Lux sold 10,000 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $83.00, for a total value of $830,000.00. Following the completion of the sale, the director now directly owns 2,695,264 shares of the company’s stock, valued at $223,706,912. The disclosure for this sale can be found here. Company insiders own 36.20% of the company’s stock.

MGP Ingredients Price Performance

Shares of NASDAQ:MGPI traded down $1.37 during trading on Wednesday, reaching $78.71. The stock had a trading volume of 33,048 shares, compared to its average volume of 199,797. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.97 and a current ratio of 6.32. The business has a fifty day moving average price of $81.38 and a 200-day moving average price of $87.33. The stock has a market cap of $1.73 billion, a PE ratio of 18.49, a PEG ratio of 1.15 and a beta of 0.75. MGP Ingredients, Inc. has a 1-year low of $75.78 and a 1-year high of $124.96.

MGP Ingredients (NASDAQ:MGPIGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.07 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.07. MGP Ingredients had a return on equity of 14.78% and a net margin of 11.91%. The firm had revenue of $170.56 million for the quarter, compared to the consensus estimate of $170.31 million. During the same quarter last year, the business posted $1.39 earnings per share. The firm’s revenue was down 15.1% compared to the same quarter last year. On average, equities analysts forecast that MGP Ingredients, Inc. will post 6.19 earnings per share for the current fiscal year.

MGP Ingredients Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Friday, May 17th will be given a $0.12 dividend. The ex-dividend date is Thursday, May 16th. This represents a $0.48 dividend on an annualized basis and a yield of 0.61%. MGP Ingredients’s dividend payout ratio is currently 11.09%.

MGP Ingredients Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for MGP Ingredients (NASDAQ:MGPI)

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