Squarepoint Ops LLC Sells 5,424 Shares of MGP Ingredients, Inc. (NASDAQ:MGPI)

Squarepoint Ops LLC lowered its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 21.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,654 shares of the company’s stock after selling 5,424 shares during the quarter. Squarepoint Ops LLC’s holdings in MGP Ingredients were worth $774,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in MGPI. Two Sigma Advisers LP boosted its stake in shares of MGP Ingredients by 4.1% in the 4th quarter. Two Sigma Advisers LP now owns 122,800 shares of the company’s stock valued at $4,835,000 after purchasing an additional 4,800 shares during the last quarter. Sherbrooke Park Advisers LLC bought a new position in shares of MGP Ingredients in the 4th quarter valued at about $328,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of MGP Ingredients by 58.3% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,996 shares of the company’s stock valued at $79,000 after purchasing an additional 735 shares during the last quarter. Numerai GP LLC acquired a new stake in shares of MGP Ingredients in the 4th quarter valued at approximately $1,731,000. Finally, Occudo Quantitative Strategies LP bought a new position in MGP Ingredients during the 4th quarter worth approximately $399,000. Institutional investors own 77.11% of the company’s stock.

Analyst Ratings Changes

MGPI has been the topic of several recent analyst reports. Lake Street Capital raised shares of MGP Ingredients from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $55.00 to $45.00 in a research note on Thursday, February 27th. Wells Fargo & Company reduced their price objective on shares of MGP Ingredients from $40.00 to $37.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. Wall Street Zen lowered shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research note on Saturday, May 10th. Finally, 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 research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, MGP Ingredients presently has an average rating of “Moderate Buy” and a consensus price target of $50.33.

Insider Buying and Selling

In other news, Director Martin Roper bought 15,000 shares of the stock in a transaction that occurred on Thursday, May 8th. The shares were acquired at an average cost of $33.10 per share, for a total transaction of $496,500.00. Following the completion of the acquisition, the director now owns 18,180 shares in the company, valued at approximately $601,758. This represents a 471.70% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Karen Seaberg sold 28,304 shares of the business’s stock in a transaction 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 in the company, valued at approximately $8,739,596.58. The trade was a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,417 shares of company stock worth $905,556. Insiders own 36.20% of the company’s stock.

MGP Ingredients Price Performance

NASDAQ MGPI opened at $29.21 on Tuesday. The company has a quick ratio of 1.94, a current ratio of 6.46 and a debt-to-equity ratio of 0.31. MGP Ingredients, Inc. has a 12-month low of $25.12 and a 12-month high of $92.52. The company has a market capitalization of $621.36 million, a PE ratio of 6.07 and a beta of 0.32. The firm’s 50 day moving average is $29.74 and its 200-day moving average is $34.70.

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

MGP Ingredients Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 30th. Investors of record on Friday, May 16th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.48 dividend on an annualized basis and a yield of 1.64%. MGP Ingredients’s payout ratio 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.