Dynamic Technology Lab Private Ltd Makes New Investment in MGP Ingredients, Inc. (NASDAQ:MGPI)

Dynamic Technology Lab Private Ltd acquired a new position in MGP Ingredients, Inc. (NASDAQ:MGPI) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,228 shares of the company’s stock, valued at approximately $435,000.

Several other hedge funds have also bought and sold shares of the stock. Farther Finance Advisors LLC boosted its position in MGP Ingredients by 45.3% in the 3rd 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. Louisiana State Employees Retirement System lifted its position in shares of MGP Ingredients by 2.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 7,900 shares of the company’s stock valued at $588,000 after buying an additional 200 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of MGP Ingredients by 73.5% during the 3rd quarter. First Horizon Advisors Inc. now owns 760 shares of the company’s stock valued at $63,000 after buying an additional 322 shares in the last quarter. CWM LLC lifted its position in shares of MGP Ingredients by 477.9% during the 2nd quarter. CWM LLC now owns 393 shares of the company’s stock valued at $29,000 after buying an additional 325 shares in the last quarter. Finally, LRI Investments LLC purchased a new position in shares of MGP Ingredients during the 1st quarter valued at approximately $43,000. Hedge funds and other institutional investors own 77.11% of the company’s stock.

MGP Ingredients Trading Up 0.6 %

Shares of MGPI stock opened at $46.28 on Friday. The stock’s fifty day moving average is $63.05 and its two-hundred day moving average is $74.16. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.94 and a current ratio of 6.46. The firm has a market capitalization of $1.02 billion, a P/E ratio of 9.62, a PEG ratio of 0.75 and a beta of 0.66. MGP Ingredients, Inc. has a fifty-two week low of $43.48 and a fifty-two week high of $102.42.

MGP Ingredients (NASDAQ:MGPI) last issued its earnings results on Thursday, October 31st. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.02. MGP Ingredients had a return on equity of 14.39% and a net margin of 14.44%. The business had revenue of $161.50 million during the quarter, compared to the consensus estimate of $161.55 million. During the same period last year, the company earned $1.34 EPS. The company’s revenue for the quarter was down 23.7% on a year-over-year basis. Research analysts expect that MGP Ingredients, Inc. will post 5.57 earnings per share for the current fiscal year.

MGP Ingredients Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 29th. Shareholders of record on Friday, November 15th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Friday, November 15th. MGP Ingredients’s dividend payout ratio (DPR) is presently 9.98%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MGPI. Roth Mkm decreased 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. Lake Street Capital lowered MGP Ingredients from a “buy” rating to a “hold” rating and decreased their target price for the company from $135.00 to $75.00 in a research report on Friday, October 18th. StockNews.com upgraded MGP Ingredients from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Truist Financial decreased 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, TD Cowen lowered MGP Ingredients from a “buy” rating to a “hold” rating and decreased their price objective for the company from $66.00 to $50.00 in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $76.67.

Insiders Place Their Bets

In related news, Director Lori L.S. Mingus sold 7,050 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 37,373 shares of the company’s stock, valued at approximately $1,720,279.19. This trade represents a 15.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karen Seaberg sold 1,109 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $90.14, for a total value of $99,965.26. Following the sale, the director now directly owns 134,969 shares of the company’s stock, valued at $12,166,105.66. The trade was a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,610 shares of company stock valued at $445,155 in the last three months. 36.20% of the stock is currently owned by 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.