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

Quantbot Technologies LP purchased a new position in MGP Ingredients, Inc. (NASDAQ:MGPI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 29,967 shares of the company’s stock, valued at approximately $1,180,000. Quantbot Technologies LP owned 0.14% of MGP Ingredients at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MGPI. GAMMA Investing LLC increased its stake in shares of MGP Ingredients by 162.0% in the fourth quarter. GAMMA Investing LLC now owns 697 shares of the company’s stock worth $27,000 after buying an additional 431 shares during the period. Versant Capital Management Inc grew its holdings in MGP Ingredients by 192.5% in the 4th quarter. Versant Capital Management Inc now owns 699 shares of the company’s stock worth $28,000 after acquiring an additional 460 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of MGP Ingredients by 56.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,913 shares of the company’s stock valued at $75,000 after acquiring an additional 687 shares during the period. Point72 DIFC Ltd raised its stake in shares of MGP Ingredients by 2,375.6% during the third quarter. Point72 DIFC Ltd now owns 1,015 shares of the company’s stock valued at $84,000 after acquiring an additional 974 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. boosted its holdings in shares of MGP Ingredients by 187.9% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,261 shares of the company’s stock worth $105,000 after purchasing an additional 823 shares during the period. Institutional investors own 77.11% of the company’s stock.

MGP Ingredients Stock Performance

Shares of MGPI stock opened at $28.85 on Wednesday. The company has a current ratio of 6.46, a quick ratio of 1.94 and a debt-to-equity ratio of 0.31. The company’s fifty day moving average price is $33.25 and its 200-day moving average price is $48.83. The stock has a market cap of $613.64 million, a PE ratio of 6.00 and a beta of 0.57. MGP Ingredients, Inc. has a 12 month low of $28.65 and a 12 month high of $92.52.

MGP Ingredients Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Friday, March 14th. MGP Ingredients’s dividend payout ratio (DPR) is presently 31.79%.

Insider Buying and Selling at MGP Ingredients

In related news, Director Karen Seaberg sold 28,304 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 283,569 shares in the company, valued at $8,739,596.58. This represents a 9.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 36.20% of the company’s stock.

Wall Street Analyst Weigh In

MGPI has been the subject of a number of recent analyst reports. StockNews.com lowered MGP Ingredients from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. 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 note on Tuesday, January 7th. Roth Mkm reduced their price objective on shares of MGP Ingredients from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Finally, Lake Street Capital raised shares of MGP Ingredients from a “hold” rating to a “buy” rating and dropped their target price for the stock from $55.00 to $45.00 in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

MGP Ingredients Company 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.