MGP Ingredients, Inc. (NASDAQ:MGPI – Get Free Report) Director Karen Seaberg sold 28,304 shares of MGP Ingredients stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $30.82, for a total value of $872,329.28. Following the transaction, the director now directly owns 283,569 shares of the company’s stock, valued at approximately $8,739,596.58. This represents a 9.08 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Karen Seaberg also recently made the following trade(s):
- On Tuesday, March 11th, Karen Seaberg purchased 5,348 shares of MGP Ingredients stock. The stock was purchased at an average price of $32.59 per share, with a total value of $174,291.32.
MGP Ingredients Stock Up 0.1 %
Shares of NASDAQ MGPI opened at $30.87 on Friday. The firm has a market cap of $656.60 million, a P/E ratio of 6.42 and a beta of 0.57. 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 1 year low of $29.84 and a 1 year high of $92.52. The firm’s 50 day moving average price is $34.26 and its 200 day moving average price is $52.67.
MGP Ingredients Announces Dividend
Hedge Funds Weigh In On MGP Ingredients
Several large investors have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. increased its stake in shares of MGP Ingredients by 201.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 64,723 shares of the company’s stock valued at $5,388,000 after acquiring an additional 43,233 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in MGP Ingredients in the third quarter valued at approximately $1,010,000. Entropy Technologies LP acquired a new position in MGP Ingredients during the fourth quarter worth approximately $335,000. Principal Financial Group Inc. raised its stake in MGP Ingredients by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 68,634 shares of the company’s stock worth $2,702,000 after purchasing an additional 1,973 shares during the period. Finally, MML Investors Services LLC boosted its holdings in shares of MGP Ingredients by 28.2% in the 3rd quarter. MML Investors Services LLC now owns 4,920 shares of the company’s stock valued at $410,000 after purchasing an additional 1,083 shares during the last quarter. 77.11% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities analysts have weighed in on MGPI shares. Roth Mkm dropped their target price on shares of MGP Ingredients from $65.00 to $60.00 and set a “buy” rating for the company in a report on Monday, December 23rd. StockNews.com cut shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research note on Friday, February 28th. Lake Street Capital raised MGP Ingredients from a “hold” rating to a “buy” rating and reduced their target price for the company from $55.00 to $45.00 in a research note on Thursday, February 27th. Finally, Wells Fargo & Company dropped their price target on MGP Ingredients from $58.00 to $44.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.00.
Read Our Latest Stock Analysis on MGP Ingredients
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.
Recommended Stories
- Five stocks we like better than MGP Ingredients
- How Can Retail Investors Trade the Toronto Stock Exchange (TSX)?
- Rubrik Stock’s V-Bottom Reversal Signals a Major Rally Ahead
- Why Special Dividends Can be a Delightful Surprise for Income Investors
- How Super Micro Computer Stock Is Defying the Market Sell-Off
- How to Calculate Options Profits
- AppLovin vs. HPE: Which Tech Stock Can Bounce Back Faster?
Receive News & Ratings for MGP Ingredients Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGP Ingredients and related companies with MarketBeat.com's FREE daily email newsletter.