Tudor Investment Corp Et Al Buys New Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

Tudor Investment Corp Et Al bought a new stake in MGP Ingredients, Inc. (NASDAQ:MGPIFree Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 28,296 shares of the company’s stock, valued at approximately $2,985,000. Tudor Investment Corp Et Al owned about 0.13% of MGP Ingredients at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Victory Capital Management Inc. lifted its stake in MGP Ingredients by 58.0% in the third quarter. Victory Capital Management Inc. now owns 217,403 shares of the company’s stock valued at $22,932,000 after buying an additional 79,791 shares during the period. KLR Investment Advisors LLC lifted its stake in MGP Ingredients by 5.8% in the third quarter. KLR Investment Advisors LLC now owns 2,911 shares of the company’s stock valued at $282,000 after buying an additional 159 shares during the period. HighTower Advisors LLC acquired a new position in MGP Ingredients in the third quarter valued at approximately $493,000. Redwood Investments LLC lifted its stake in MGP Ingredients by 14.2% in the third quarter. Redwood Investments LLC now owns 140,494 shares of the company’s stock valued at $14,819,000 after buying an additional 17,498 shares during the period. Finally, Rhumbline Advisers lifted its stake in MGP Ingredients by 5.3% in the second quarter. Rhumbline Advisers now owns 52,043 shares of the company’s stock valued at $5,531,000 after buying an additional 2,603 shares during the period. 77.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wedbush reissued an “outperform” rating and issued a $135.00 price target on shares of MGP Ingredients in a research note on Thursday, February 15th. StockNews.com lowered MGP Ingredients from a “hold” rating to a “sell” rating in a research note on Thursday, December 14th.

Check Out Our Latest Stock Report on MGPI

MGP Ingredients Price Performance

Shares of NASDAQ:MGPI opened at $85.78 on Wednesday. The company has a quick ratio of 1.47, a current ratio of 4.51 and a debt-to-equity ratio of 0.33. MGP Ingredients, Inc. has a twelve month low of $75.78 and a twelve month high of $124.96. The stock’s 50 day moving average is $87.27 and its 200-day moving average is $95.55. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 17.87, a PEG ratio of 1.25 and a beta of 0.75.

MGP Ingredients (NASDAQ:MGPIGet Free Report) last issued its earnings results on Thursday, February 22nd. The company reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.26. MGP Ingredients had a return on equity of 16.03% and a net margin of 12.72%. The company had revenue of $214.90 million for the quarter, compared to analyst estimates of $206.87 million. During the same period in the prior year, the firm earned $1.01 earnings per share. MGP Ingredients’s revenue for the quarter was up 12.6% on a year-over-year basis. Sell-side analysts forecast that MGP Ingredients, Inc. will post 6.18 EPS for the current fiscal year.

MGP Ingredients Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Thursday, March 14th. MGP Ingredients’s payout ratio is currently 10.00%.

Insider Activity at MGP Ingredients

In related news, Director Karen Seaberg sold 2,544 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $99.68, for a total value of $253,585.92. Following the completion of the sale, the director now directly owns 55,377 shares of the company’s stock, valued at approximately $5,519,979.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, VP Erika Lapish purchased 500 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average cost of $77.86 per share, with a total value of $38,930.00. Following the transaction, the vice president now owns 550 shares of the company’s stock, valued at approximately $42,823. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen Seaberg sold 2,544 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $99.68, for a total value of $253,585.92. Following the completion of the sale, the director now directly owns 55,377 shares of the company’s stock, 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.

MGP Ingredients Profile

(Free Report)

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.

See Also

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

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