MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Purchased by nVerses Capital LLC

nVerses Capital LLC lifted its position in MGP Ingredients, Inc. (NASDAQ:MGPI) by 118.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,400 shares of the company’s stock after buying an additional 1,300 shares during the quarter. nVerses Capital LLC’s holdings in MGP Ingredients were worth $200,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. CWM LLC grew its stake in shares of MGP Ingredients by 477.9% in the second quarter. CWM LLC now owns 393 shares of the company’s stock worth $29,000 after acquiring an additional 325 shares in the last quarter. Isthmus Partners LLC increased its holdings in MGP Ingredients by 2.1% in the second quarter. Isthmus Partners LLC now owns 41,427 shares of the company’s stock valued at $31,000 after buying an additional 860 shares during the last quarter. Innealta Capital LLC acquired a new stake in MGP Ingredients in the second quarter valued at $42,000. LRI Investments LLC purchased a new stake in MGP Ingredients during the 1st quarter worth about $43,000. Finally, Covestor Ltd boosted its position in shares of MGP Ingredients by 23.3% during the 1st quarter. Covestor Ltd now owns 795 shares of the company’s stock worth $68,000 after acquiring an additional 150 shares in the last quarter. Institutional investors and hedge funds own 77.11% of the company’s stock.

MGP Ingredients Trading Down 24.2 %

Shares of MGP Ingredients stock opened at $61.86 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.22 and a current ratio of 6.44. The company has a market capitalization of $1.36 billion, a P/E ratio of 14.29, a PEG ratio of 1.16 and a beta of 0.59. MGP Ingredients, Inc. has a 1 year low of $59.10 and a 1 year high of $102.42. The company’s fifty day moving average is $84.13 and its two-hundred day moving average is $80.15.

MGP Ingredients (NASDAQ:MGPI) last released its quarterly earnings results on Thursday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.54 by $0.17. The firm had revenue of $190.80 million for the quarter, compared to analyst estimates of $189.06 million. MGP Ingredients had a return on equity of 14.98% and a net margin of 12.18%. The business’s revenue was down 8.7% on a year-over-year basis. During the same quarter last year, the company posted $1.49 earnings per share. Analysts forecast that MGP Ingredients, Inc. will post 6.25 earnings per share for the current year.

MGP Ingredients Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.78%. The ex-dividend date of this dividend was Friday, August 16th. MGP Ingredients’s dividend payout ratio is presently 11.09%.

Insider Activity at MGP Ingredients

In other MGP Ingredients news, Director Karen Seaberg sold 1,109 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $90.14, for a total transaction of $99,965.26. Following the completion of the transaction, the director now owns 134,969 shares in the company, valued at approximately $12,166,105.66. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 36.20% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MGPI shares. Truist Financial lowered their price target on MGP Ingredients from $125.00 to $95.00 and set a “buy” rating for the company in a report on Wednesday. Lake Street Capital downgraded shares of MGP Ingredients from a “buy” rating to a “hold” rating and dropped their target price for the company from $135.00 to $75.00 in a research report on Friday. Loop Capital set a $75.00 price target on shares of MGP Ingredients in a research report on Friday. StockNews.com upgraded shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Roth Mkm cut their target price on MGP Ingredients from $92.00 to $88.00 and set a “buy” rating on the stock in a research report on Friday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, MGP Ingredients currently has an average rating of “Moderate Buy” and an average price target of $90.60.

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.