Aigen Investment Management LP Buys Shares of 6,460 MGP Ingredients, Inc. (NASDAQ:MGPI)

Aigen Investment Management LP purchased a new position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 6,460 shares of the company’s stock, valued at approximately $254,000.

A number of other large investors have also modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in MGP Ingredients by 45.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 597 shares of the company’s stock valued at $50,000 after purchasing an additional 186 shares during the period. Assetmark Inc. raised its holdings in shares of MGP Ingredients by 6.5% during the third quarter. Assetmark Inc. now owns 11,383 shares of the company’s stock valued at $948,000 after buying an additional 699 shares during the last quarter. Atria Investments Inc acquired a new position in shares of MGP Ingredients during the third quarter worth approximately $304,000. GSA Capital Partners LLP bought a new position in MGP Ingredients in the 3rd quarter worth approximately $1,010,000. Finally, Prime Capital Investment Advisors LLC bought a new position in MGP Ingredients in the 3rd quarter worth approximately $201,000. Institutional investors and hedge funds own 77.11% of the company’s stock.

MGP Ingredients Price Performance

NASDAQ:MGPI opened at $34.01 on Monday. MGP Ingredients, Inc. has a 52-week low of $31.31 and a 52-week high of $92.52. The company has a quick ratio of 1.94, a current ratio of 6.46 and a debt-to-equity ratio of 0.31. The firm has a market cap of $723.39 million, a P/E ratio of 7.07 and a beta of 0.57. The business’s 50-day moving average price is $34.87 and its 200 day moving average price is $53.79.

MGP Ingredients Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Friday, March 14th. MGP Ingredients’s dividend payout ratio is presently 31.79%.

Wall Street Analyst Weigh In

MGPI has been the subject of a number of analyst reports. Roth Mkm reduced their price target on MGP Ingredients from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. StockNews.com downgraded shares of MGP Ingredients from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Lake Street Capital upgraded shares of MGP Ingredients from a “hold” rating to a “buy” rating and decreased their target price for the company from $55.00 to $45.00 in a research report on Thursday, February 27th. Finally, Wells Fargo & Company dropped their price target 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. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, MGP Ingredients has an average rating of “Moderate Buy” and a consensus price target of $67.00.

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.