Quantbot Technologies LP Raises Stock Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

Quantbot Technologies LP grew its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPIFree Report) by 99.9% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,641 shares of the company’s stock after purchasing an additional 820 shares during the quarter. Quantbot Technologies LP’s holdings in MGP Ingredients were worth $173,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. BlackRock Inc. lifted its position in shares of MGP Ingredients by 13.8% in the 2nd quarter. BlackRock Inc. now owns 2,873,795 shares of the company’s stock worth $305,427,000 after buying an additional 349,237 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of MGP Ingredients by 8.6% in the 3rd quarter. Vanguard Group Inc. now owns 1,092,288 shares of the company’s stock worth $115,956,000 after buying an additional 86,892 shares during the last quarter. Champlain Investment Partners LLC lifted its position in shares of MGP Ingredients by 2.2% in the 2nd quarter. Champlain Investment Partners LLC now owns 987,115 shares of the company’s stock worth $104,911,000 after buying an additional 21,600 shares during the last quarter. Stephens Investment Management Group LLC lifted its position in shares of MGP Ingredients by 2.4% in the 2nd quarter. Stephens Investment Management Group LLC now owns 791,584 shares of the company’s stock worth $84,130,000 after buying an additional 18,301 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in shares of MGP Ingredients by 3.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 706,172 shares of the company’s stock worth $75,051,000 after buying an additional 22,106 shares during the last quarter. 77.11% of the stock is currently owned by institutional investors.

Insider Activity at MGP Ingredients

In other news, CEO David Colo acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The shares were purchased at an average cost of $87.70 per share, for a total transaction of $87,700.00. Following the transaction, the chief executive officer now directly owns 83,782 shares in the company, valued at approximately $7,347,681.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO David Colo purchased 1,000 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were bought at an average cost of $87.70 per share, for a total transaction of $87,700.00. Following the transaction, the chief executive officer now owns 83,782 shares of the company’s stock, valued at $7,347,681.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen Seaberg sold 2,544 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $99.68, for a total transaction of $253,585.92. Following the sale, the director now owns 55,377 shares in the company, valued at $5,519,979.36. The disclosure for this sale can be found here. 28.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research report on Thursday, December 14th.

Read Our Latest Stock Analysis on MGP Ingredients

MGP Ingredients Trading Down 0.2 %

Shares of NASDAQ:MGPI opened at $85.44 on Monday. The company has a market cap of $1.88 billion, a PE ratio of 19.33, a P/E/G ratio of 1.25 and a beta of 0.78. The company’s 50-day moving average price is $92.14 and its 200 day moving average price is $100.84. MGP Ingredients, Inc. has a fifty-two week low of $81.11 and a fifty-two week high of $124.96. The company has a quick ratio of 1.79, a current ratio of 5.59 and a debt-to-equity ratio of 0.38.

MGP Ingredients Company Profile

(Free Report)

MGP Ingredients, Inc, together with its subsidiaries, produces and supplies distilled spirits, branded spirits, and food ingredients in the United States and internationally. It operates through three segments: Distillery Solutions; Branded Spirits; and Ingredient Solutions. The Distillery Solutions segment provides food grade alcohol for beverage applications that include bourbon and rye, whiskeys, as well as grain neutral spirits, include vodka and gin; and food-grade industrial alcohol, which is used as an ingredient in foods, personal care products, cleaning solutions, pharmaceuticals, and various other products.

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Institutional Ownership by Quarter for MGP Ingredients (NASDAQ:MGPI)

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