8,680 Shares in MGP Ingredients, Inc. (NASDAQ:MGPI) Acquired by Dark Forest Capital Management LP

Dark Forest Capital Management LP acquired a new position in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,680 shares of the company's stock, valued at approximately $342,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of MGP Ingredients by 162.0% during the fourth quarter. GAMMA Investing LLC now owns 697 shares of the company's stock worth $27,000 after purchasing an additional 431 shares in the last quarter. Versant Capital Management Inc boosted 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 period. Isthmus Partners LLC grew its position in MGP Ingredients by 1.8% in the fourth quarter. Isthmus Partners LLC now owns 38,379 shares of the company's stock valued at $1,511,000 after acquiring an additional 684 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of MGP Ingredients by 56.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,913 shares of the company's stock worth $75,000 after purchasing an additional 687 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in shares of MGP Ingredients by 9.6% in the fourth quarter. Assetmark Inc. now owns 12,475 shares of the company's stock valued at $491,000 after purchasing an additional 1,092 shares during the period. Institutional investors and hedge funds own 77.11% of the company's stock.

Insiders Place Their Bets

In other MGP Ingredients news, Director Karen Seaberg bought 5,348 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were purchased at an average cost of $32.59 per share, for a total transaction of $174,291.32. Following the transaction, the director now directly owns 358,899 shares in the company, valued at $11,696,518.41. The trade was a 1.51 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders sold 29,417 shares of company stock worth $905,556. Insiders own 36.20% of the company's stock.

MGP Ingredients Stock Performance

Shares of MGP Ingredients stock traded up $1.11 during trading hours on Friday, reaching $31.98. The company's stock had a trading volume of 304,595 shares, compared to its average volume of 329,782. MGP Ingredients, Inc. has a one year low of $25.12 and a one year high of $92.52. The company's 50 day simple moving average is $29.77 and its 200 day simple moving average is $38.76. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.94 and a current ratio of 6.46. The stock has a market cap of $680.15 million, a P/E ratio of 6.65 and a beta of 0.61.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.31 by $0.05. The company had revenue of $121.65 million during the quarter, compared to analyst estimates of $119.14 million. MGP Ingredients had a return on equity of 14.39% and a net margin of 14.44%. The business's revenue was down 28.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.07 earnings per share. As a group, analysts expect that MGP Ingredients, Inc. will post 5.56 EPS for the current fiscal year.

MGP Ingredients Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Investors of record on Friday, May 16th will be given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.50%. MGP Ingredients's dividend payout ratio is presently 31.79%.

Analysts Set New Price Targets

A number of research firms have weighed in on MGPI. Truist Financial decreased their price objective on shares of MGP Ingredients from $40.00 to $35.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Wells Fargo & Company cut their target price on MGP Ingredients from $40.00 to $37.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 2nd. Lake Street Capital upgraded shares of MGP Ingredients from a "hold" rating to a "buy" rating and dropped their price target for the stock from $55.00 to $45.00 in a research note on Thursday, February 27th. Finally, StockNews.com lowered shares of MGP Ingredients from a "hold" rating to a "sell" rating in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $50.33.

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.