Insider Selling: MGP Ingredients, Inc. (NASDAQ:MGPI) Director Sells $20,678.35 in Stock

MGP Ingredients, Inc. (NASDAQ:MGPI) Director Karen Seaberg sold 451 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $45.85, for a total transaction of $20,678.35. Following the completion of the transaction, the director now directly owns 119,105 shares of the company’s stock, valued at $5,460,964.25. The trade was a 0.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Karen Seaberg also recently made the following trade(s):

• On Wednesday, September 4th, Karen Seaberg sold 1,109 shares of MGP Ingredients stock. The stock was sold at an average price of $90.14, for a total transaction of $99,965.26.

MGP Ingredients Price Performance

Shares of MGP Ingredients stock opened at $46.28 on Monday. The business’s fifty day moving average price is $62.30 and its 200 day moving average price is $73.86. MGP Ingredients, Inc. has a twelve month low of $43.48 and a twelve month high of $102.42. The company has a current ratio of 6.46, a quick ratio of 1.94 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $1.02 billion, a P/E ratio of 9.62, a PEG ratio of 0.76 and a beta of 0.66.

MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.02. The business had revenue of $161.50 million for the quarter, compared to analyst estimates 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 period in the previous year, the company posted $1.34 EPS. As a group, research analysts anticipate that MGP Ingredients, Inc. will post 5.57 earnings per share for the current year.

MGP Ingredients Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.48 annualized dividend and a yield of 1.04%. MGP Ingredients’s dividend payout ratio is currently 9.98%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on MGPI shares. TD Cowen downgraded shares of MGP Ingredients from a “buy” rating to a “hold” rating and reduced their price objective for the company from $66.00 to $50.00 in a research note on Wednesday, November 6th. Lake Street Capital cut MGP Ingredients from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $135.00 to $75.00 in a report on Friday, October 18th. Roth Mkm lowered their price objective on MGP Ingredients from $69.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, November 4th. Truist Financial reduced their target price on MGP Ingredients from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Loop Capital set a $75.00 price target on MGP Ingredients in a report on Friday, October 18th. 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $76.67.

Hedge Funds Weigh In On MGP Ingredients

Hedge funds have recently made changes to their positions in the business. CWM LLC boosted its position in shares of MGP Ingredients by 477.9% in 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. Isthmus Partners LLC boosted its holdings in MGP Ingredients by 2.1% in the 2nd quarter. Isthmus Partners LLC now owns 41,427 shares of the company’s stock worth $31,000 after acquiring an additional 860 shares during the period. Innealta Capital LLC acquired a new stake in MGP Ingredients in the second quarter valued at approximately $42,000. LRI Investments LLC purchased a new stake in shares of MGP Ingredients during the first quarter valued at approximately $43,000. Finally, Farther Finance Advisors LLC lifted its position in shares of MGP Ingredients by 45.3% during the third quarter. Farther Finance Advisors LLC now owns 597 shares of the company’s stock worth $50,000 after purchasing an additional 186 shares in the last quarter. Hedge funds and other institutional investors own 77.11% 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.