Qube Research & Technologies Ltd Invests $443,000 in MGP Ingredients, Inc. (NASDAQ:MGPI)

Qube Research & Technologies Ltd purchased a new position in shares of MGP Ingredients, Inc. (NASDAQ:MGPIGet Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,208 shares of the company’s stock, valued at approximately $443,000.

Several other large investors have also recently added to or reduced their stakes in MGPI. Marshall Wace North America L.P. acquired a new position in shares of MGP Ingredients during the 1st quarter worth $37,000. Morgan Stanley raised its stake in shares of MGP Ingredients by 62.2% during the 2nd quarter. Morgan Stanley now owns 119,592 shares of the company’s stock worth $8,089,000 after buying an additional 45,867 shares during the last quarter. Maryland State Retirement & Pension System acquired a new position in MGP Ingredients in the 3rd quarter valued at about $324,000. SG Americas Securities LLC raised its stake in MGP Ingredients by 303.5% in the 3rd quarter. SG Americas Securities LLC now owns 11,993 shares of the company’s stock valued at $781,000 after purchasing an additional 9,021 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC raised its stake in MGP Ingredients by 24.9% in the 3rd quarter. Mount Yale Investment Advisors LLC now owns 3,902 shares of the company’s stock valued at $254,000 after purchasing an additional 778 shares during the last quarter. 73.69% of the stock is owned by institutional investors and hedge funds.

Several research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research note on Tuesday, March 1st. Lake Street Capital assumed coverage on shares of MGP Ingredients in a research note on Tuesday, February 22nd. They issued a “buy” rating and a $100.00 target price for the company. StockNews.com assumed coverage on shares of MGP Ingredients in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Cowen assumed coverage on shares of MGP Ingredients in a research note on Friday, January 21st. They issued an “outperform” rating and a $99.00 target price for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, MGP Ingredients presently has a consensus rating of “Hold” and a consensus price target of $96.25.

MGPI opened at $90.70 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 4.13 and a quick ratio of 1.36. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of 21.14 and a beta of 1.27. The business has a 50-day moving average of $84.83 and a two-hundred day moving average of $80.15. MGP Ingredients, Inc. has a 12 month low of $58.00 and a 12 month high of $97.61.

MGP Ingredients (NASDAQ:MGPIGet Rating) last posted its quarterly earnings results on Thursday, February 24th. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.68 by $0.19. MGP Ingredients had a return on equity of 16.61% and a net margin of 14.48%. The company had revenue of $166.85 million during the quarter, compared to analysts’ expectations of $155.40 million. During the same quarter in the previous year, the business earned $0.75 EPS. Equities research analysts anticipate that MGP Ingredients, Inc. will post 4.03 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 25th. Stockholders of record on Friday, March 11th were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.53%. The ex-dividend date was Thursday, March 10th. MGP Ingredients’s payout ratio is currently 11.19%.

In related news, Director Karen Seaberg sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, February 10th. The stock was sold at an average price of $76.84, for a total transaction of $230,520.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michele Lux purchased 5,000 shares of MGP Ingredients stock in a transaction that occurred on Monday, March 14th. The shares were bought at an average cost of $77.36 per share, for a total transaction of $386,800.00. The disclosure for this purchase can be found here. Insiders have sold a total of 12,954 shares of company stock valued at $1,089,120 in the last quarter. Company insiders own 36.00% of the company’s stock.

About MGP Ingredients (Get Rating)

MGP Ingredients, Inc, together with its subsidiaries, produces and supplies distilled spirits, branded spirits, and food ingredients. It operates through three segments: Distillery Products; Branded Spirits; and Ingredient Solutions. The Distillery Products segment provides food grade alcohol for beverage applications that include bourbon and rye whiskeys, as well as grain neutral spirits, including 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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