Trexquant Investment LP Invests $4.07 Million in MGP Ingredients, Inc. (NASDAQ:MGPI)

Trexquant Investment LP acquired a new stake in MGP Ingredients, Inc. (NASDAQ:MGPI) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 103,440 shares of the company’s stock, valued at approximately $4,072,000.

Other large investors have also added to or reduced their stakes in the company. Alliancebernstein L.P. increased its position in MGP Ingredients by 114.0% in the 4th quarter. Alliancebernstein L.P. now owns 46,542 shares of the company’s stock valued at $1,832,000 after acquiring an additional 24,791 shares during the period. New Age Alpha Advisors LLC acquired a new stake in MGP Ingredients in the fourth quarter valued at $1,141,000. Norges Bank acquired a new position in MGP Ingredients during the 4th quarter worth about $571,000. JPMorgan Chase & Co. grew its position in shares of MGP Ingredients by 101.7% in the 4th quarter. JPMorgan Chase & Co. now owns 130,546 shares of the company’s stock valued at $5,140,000 after buying an additional 65,823 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of MGP Ingredients by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 1,126,169 shares of the company’s stock valued at $44,337,000 after buying an additional 7,471 shares during the last quarter. Institutional investors own 77.11% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Wells Fargo & Company cut their price objective on MGP Ingredients from $40.00 to $37.00 and set an “overweight” rating on the stock in a research note on Wednesday. StockNews.com lowered shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Roth Mkm lowered their target price on shares of MGP Ingredients from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Finally, Lake Street Capital raised shares of MGP Ingredients from a “hold” rating to a “buy” rating and cut their price target for the company from $55.00 to $45.00 in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, MGP Ingredients currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.00.

MGP Ingredients Trading Up 0.8 %

NASDAQ:MGPI opened at $27.09 on Friday. MGP Ingredients, Inc. has a 12 month low of $25.62 and a 12 month high of $92.52. 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 $576.20 million, a price-to-earnings ratio of 5.63 and a beta of 0.61. The firm has a fifty day simple moving average of $32.07 and a two-hundred day simple moving average of $46.01.

MGP Ingredients Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date was Friday, March 14th. MGP Ingredients’s payout ratio is 31.79%.

Insider Buying and Selling

In other news, Director Karen Seaberg sold 28,304 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $30.82, for a total transaction of $872,329.28. Following the completion of the sale, the director now owns 283,569 shares in the company, valued at $8,739,596.58. The trade was a 9.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 36.20% of the stock is owned by company insiders.

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.