Numerai GP LLC Buys Shares of 43,977 MGP Ingredients, Inc. (NASDAQ:MGPI)

Numerai GP LLC purchased a new stake in MGP Ingredients, Inc. (NASDAQ:MGPI) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 43,977 shares of the company’s stock, valued at approximately $1,731,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its holdings 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. Isthmus Partners LLC raised its position in MGP Ingredients by 1.8% in the fourth quarter. Isthmus Partners LLC now owns 38,379 shares of the company’s stock valued at $1,511,000 after purchasing an additional 684 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of MGP Ingredients by 56.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,913 shares of the company’s stock valued at $75,000 after purchasing an additional 687 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of MGP Ingredients by 21.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,662 shares of the company’s stock worth $223,000 after purchasing an additional 1,015 shares during the period. Finally, Assetmark Inc. grew its holdings in shares of MGP Ingredients by 9.6% during the 4th quarter. Assetmark Inc. now owns 12,475 shares of the company’s stock worth $491,000 after purchasing an additional 1,092 shares during the period. Institutional investors and hedge funds own 77.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MGPI shares. Truist Financial reduced their price objective on shares of MGP Ingredients from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. StockNews.com downgraded shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research note on Saturday. Lake Street Capital raised shares of MGP Ingredients from a “hold” rating to a “buy” rating and lowered their price objective for the stock from $55.00 to $45.00 in a research report on Thursday, February 27th. Finally, Wells Fargo & Company cut their target price on MGP Ingredients from $40.00 to $37.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 2nd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.33.

Insider Transactions at MGP Ingredients

In other news, Director Martin Roper purchased 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 8th. The stock was bought at an average price of $33.10 per share, for a total transaction of $496,500.00. Following the completion of the purchase, the director now directly owns 18,180 shares of the company’s stock, valued at $601,758. The trade was a 471.70% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, the director now owns 283,569 shares of the company’s stock, valued at $8,739,596.58. This trade represents a 9.08% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,417 shares of company stock valued at $905,556. 36.20% of the stock is currently owned by company insiders.

MGP Ingredients Stock Performance

NASDAQ MGPI opened at $32.89 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.46 and a quick ratio of 1.94. The company has a market cap of $699.64 million, a P/E ratio of 6.84 and a beta of 0.32. The stock has a 50-day moving average of $29.70 and a two-hundred day moving average of $36.72. MGP Ingredients, Inc. has a 1-year low of $25.12 and a 1-year high of $92.52.

MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings data on Thursday, May 1st. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.31 by $0.05. MGP Ingredients had a net margin of 14.44% and a return on equity of 14.39%. The business had revenue of $121.65 million during the quarter, compared to analyst estimates of $119.14 million. During the same quarter last year, the firm posted $1.07 earnings per share. The business’s revenue for the quarter was down 28.7% compared to the same quarter last year. As a group, analysts anticipate that MGP Ingredients, Inc. will post 5.56 EPS for the current year.

MGP Ingredients Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a $0.12 dividend. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.48 annualized dividend and a dividend yield of 1.46%. MGP Ingredients’s dividend payout ratio (DPR) is 106.67%.

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.