Villanova Investment Management Co LLC Grows Holdings in MGP Ingredients, Inc. (NASDAQ:MGPI)

Villanova Investment Management Co LLC increased its stake in MGP Ingredients, Inc. (NASDAQ:MGPI) by 109.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,696 shares of the company’s stock after buying an additional 24,966 shares during the period. MGP Ingredients comprises about 1.7% of Villanova Investment Management Co LLC’s investment portfolio, making the stock its 26th largest position. Villanova Investment Management Co LLC owned approximately 0.22% of MGP Ingredients worth $1,878,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of MGP Ingredients by 14.2% in the 3rd quarter. FMR LLC now owns 1,102,985 shares of the company’s stock worth $91,824,000 after purchasing an additional 137,292 shares during the last quarter. BNP Paribas Financial Markets grew its stake in MGP Ingredients by 265.6% in the third quarter. BNP Paribas Financial Markets now owns 82,318 shares of the company’s stock worth $6,853,000 after purchasing an additional 59,805 shares in the last quarter. Townsquare Capital LLC increased its holdings in MGP Ingredients by 49.1% in the third quarter. Townsquare Capital LLC now owns 23,751 shares of the company’s stock valued at $1,977,000 after buying an additional 7,822 shares during the last quarter. Verition Fund Management LLC raised its stake in MGP Ingredients by 39.5% during the third quarter. Verition Fund Management LLC now owns 11,044 shares of the company’s stock valued at $919,000 after buying an additional 3,125 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. lifted its holdings in MGP Ingredients by 187.9% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,261 shares of the company’s stock worth $105,000 after buying an additional 823 shares during the last quarter. 77.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other MGP Ingredients news, Director Karen Seaberg sold 28,304 shares of the business’s stock in a transaction 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 transaction, the director now owns 283,569 shares in the company, valued at approximately $8,739,596.58. The trade was a 9.08 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 36.20% of the company’s stock.

MGP Ingredients Stock Up 0.5 %

MGP Ingredients stock opened at $29.38 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.94 and a current ratio of 6.46. MGP Ingredients, Inc. has a one year low of $28.65 and a one year high of $92.52. The company has a 50-day simple moving average of $32.72 and a 200-day simple moving average of $47.34. The firm has a market capitalization of $624.91 million, a P/E ratio of 6.11 and a beta of 0.57.

MGP Ingredients Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.63%. MGP Ingredients’s dividend payout ratio is presently 31.79%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MGPI. Lake Street Capital upgraded MGP Ingredients from a “hold” rating to a “buy” rating and lowered their price target for the company from $55.00 to $45.00 in a report on Thursday, February 27th. Wells Fargo & Company lowered their target price on shares of MGP Ingredients from $58.00 to $44.00 and set an “overweight” rating for the company in a research note on Tuesday, January 7th. Roth Mkm reduced their price target on shares of MGP Ingredients from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Finally, StockNews.com downgraded shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

About MGP Ingredients

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.