MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Sold by Mendota Financial Group LLC

Mendota Financial Group LLC lessened its holdings in MGP Ingredients, Inc. (NASDAQ:MGPI) by 72.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 705 shares of the company’s stock after selling 1,854 shares during the quarter. Mendota Financial Group LLC’s holdings in MGP Ingredients were worth $28,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MGPI. Farther Finance Advisors LLC boosted its holdings in shares of MGP Ingredients by 45.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 597 shares of the company’s stock valued at $50,000 after buying an additional 186 shares in the last quarter. First Horizon Advisors Inc. lifted its position in MGP Ingredients by 73.5% in the third quarter. First Horizon Advisors Inc. now owns 760 shares of the company’s stock valued at $63,000 after acquiring an additional 322 shares during the last quarter. GAMMA Investing LLC lifted its position in MGP Ingredients by 162.0% in the fourth quarter. GAMMA Investing LLC now owns 697 shares of the company’s stock valued at $27,000 after acquiring an additional 431 shares during the last quarter. Versant Capital Management Inc boosted its stake in MGP Ingredients by 192.5% in the fourth quarter. Versant Capital Management Inc now owns 699 shares of the company’s stock valued at $28,000 after acquiring an additional 460 shares in the last quarter. Finally, Park Avenue Securities LLC grew its holdings in shares of MGP Ingredients by 19.4% during the third quarter. Park Avenue Securities LLC now owns 3,378 shares of the company’s stock worth $281,000 after purchasing an additional 549 shares during the last quarter. 77.11% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at MGP Ingredients

In other news, Director Lori L.S. Mingus sold 7,050 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $46.03, for a total transaction of $324,511.50. Following the completion of the transaction, the director now directly owns 37,373 shares of the company’s stock, valued at approximately $1,720,279.19. This represents a 15.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 36.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on MGPI. StockNews.com raised MGP Ingredients from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Roth Mkm reduced their price objective on MGP Ingredients from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Wells Fargo & Company lowered their target price on shares of MGP Ingredients from $58.00 to $44.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Lake Street Capital cut shares of MGP Ingredients from a “buy” rating to a “hold” rating and cut their target price for the company from $135.00 to $75.00 in a report on Friday, October 18th. Finally, TD Cowen cut shares of MGP Ingredients from a “buy” rating to a “hold” rating and decreased their price target for the stock from $66.00 to $50.00 in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $71.29.

MGP Ingredients Trading Down 0.9 %

NASDAQ:MGPI opened at $36.32 on Wednesday. MGP Ingredients, Inc. has a 12-month low of $34.02 and a 12-month high of $93.18. 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’s 50 day simple moving average is $43.91 and its 200-day simple moving average is $66.42. The firm has a market cap of $797.33 million, a P/E ratio of 7.55, a PEG ratio of 0.74 and a beta of 0.65.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.27 by $0.02. MGP Ingredients had a net margin of 14.44% and a return on equity of 14.39%. The company had revenue of $161.50 million for the quarter, compared to analysts’ expectations of $161.55 million. During the same period in the previous year, the company posted $1.34 EPS. MGP Ingredients’s revenue was down 23.7% compared to the same quarter last year. Equities analysts anticipate that MGP Ingredients, Inc. will post 5.57 EPS for the current year.

MGP Ingredients Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were given a $0.12 dividend. The ex-dividend date of this dividend was Friday, November 15th. This represents a $0.48 dividend on an annualized basis and a yield of 1.32%. MGP Ingredients’s payout ratio is currently 9.98%.

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.