Aquatic Capital Management LLC Makes New $735,000 Investment in MGP Ingredients, Inc. (NASDAQ:MGPI)

Aquatic Capital Management LLC acquired a new stake in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 18,671 shares of the company's stock, valued at approximately $735,000. Aquatic Capital Management LLC owned about 0.09% of MGP Ingredients as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of MGP Ingredients by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 1,126,169 shares of the company's stock valued at $44,337,000 after buying an additional 7,471 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in MGP Ingredients by 6.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 914,854 shares of the company's stock worth $36,017,000 after purchasing an additional 57,714 shares in the last quarter. Wasatch Advisors LP purchased a new position in MGP Ingredients in the 4th quarter worth approximately $28,388,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of MGP Ingredients by 16.8% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 579,067 shares of the company's stock worth $22,798,000 after purchasing an additional 83,445 shares during the last quarter. Finally, Marshall Wace LLP grew its position in shares of MGP Ingredients by 90.0% in the fourth quarter. Marshall Wace LLP now owns 340,453 shares of the company's stock valued at $13,404,000 after purchasing an additional 161,295 shares in the last quarter. Hedge funds and other institutional investors own 77.11% of the company's stock.

MGP Ingredients Trading Up 0.4 %

MGPI traded up $0.13 on Monday, hitting $32.02. The company had a trading volume of 629,422 shares, compared to its average volume of 331,873. 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 firm has a market cap of $681.07 million, a P/E ratio of 6.66 and a beta of 0.32. The company's fifty day moving average price is $29.75 and its 200 day moving average price is $37.83. MGP Ingredients, Inc. has a 1 year low of $25.12 and a 1 year high of $92.52.

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

MGP Ingredients Dividend Announcement

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 issued a $0.12 dividend. The ex-dividend date is Friday, May 16th. This represents a $0.48 annualized dividend and a dividend yield of 1.50%. MGP Ingredients's dividend payout ratio is presently 106.67%.

Insider Buying and Selling

In other MGP Ingredients news, Director Karen Seaberg purchased 5,348 shares of MGP Ingredients stock in a transaction dated Tuesday, March 11th. The shares were acquired at an average price of $32.59 per share, with a total value of $174,291.32. Following the completion of the transaction, the director now owns 358,899 shares of the company's stock, valued at $11,696,518.41. This trade represents a 1.51 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders have sold 29,417 shares of company stock valued at $905,556. Corporate insiders own 36.20% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MGPI. StockNews.com raised MGP Ingredients from a "sell" rating to a "hold" rating in a research note on Friday. Lake Street Capital raised shares of MGP Ingredients from a "hold" rating to a "buy" rating and dropped their price objective for the company from $55.00 to $45.00 in a report on Thursday, February 27th. Wells Fargo & Company reduced their target price 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. Finally, Truist Financial decreased their target price on shares of MGP Ingredients from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, MGP Ingredients currently has an average rating of "Moderate Buy" and an average price target of $50.33.

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.