11,963 Shares in MGP Ingredients, Inc. (NASDAQ:MGPI) Bought by Crestline Management LP

Crestline Management LP bought a new stake in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 11,963 shares of the company's stock, valued at approximately $471,000. Crestline Management LP owned about 0.05% of MGP Ingredients as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MGPI. JPMorgan Chase & Co. lifted its stake in shares of MGP Ingredients by 201.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 64,723 shares of the company's stock valued at $5,388,000 after buying an additional 43,233 shares in the last quarter. GAMMA Investing LLC increased its holdings in MGP Ingredients by 162.0% during the 4th quarter. GAMMA Investing LLC now owns 697 shares of the company's stock worth $27,000 after acquiring an additional 431 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of MGP Ingredients by 1,292.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 188,693 shares of the company's stock worth $7,429,000 after buying an additional 175,142 shares during the last quarter. Verity Asset Management Inc. bought a new position in shares of MGP Ingredients in the 4th quarter worth $307,000. Finally, Entropy Technologies LP bought a new position in shares of MGP Ingredients in the 4th quarter worth $335,000. 77.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MGPI shares. 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 research report on Thursday, April 24th. Lake Street Capital raised shares of MGP Ingredients from a "hold" rating to a "buy" rating and dropped their price target for the company from $55.00 to $45.00 in a research report on Thursday, February 27th. StockNews.com cut shares of MGP Ingredients from a "hold" rating to a "sell" rating in a research report on Saturday, May 10th. Finally, Wells Fargo & Company dropped their target price on shares of MGP Ingredients from $40.00 to $37.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $50.33.

Insider Activity at MGP Ingredients

In other MGP Ingredients news, Director Karen Seaberg bought 5,348 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was bought at an average cost of $32.59 per share, for a total transaction 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 represents a 1.51% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Martin Roper purchased 15,000 shares of the company's stock in a transaction on Thursday, May 8th. The stock was purchased at an average price of $33.10 per share, with a total value of $496,500.00. Following the completion of the transaction, the director now owns 18,180 shares of the company's stock, valued at approximately $601,758. This trade represents a 471.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 29,417 shares of company stock worth $905,556. 36.20% of the stock is owned by company insiders.

MGP Ingredients Stock Up 0.2%

MGP Ingredients stock traded up $0.07 during trading hours on Friday, hitting $32.36. The stock had a trading volume of 251,433 shares, compared to its average volume of 339,445. The company has a quick ratio of 1.94, a current ratio of 6.46 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $688.26 million, a P/E ratio of 6.75 and a beta of 0.32. MGP Ingredients, Inc. has a 12-month low of $25.12 and a 12-month high of $92.52. The stock's 50-day moving average price is $29.65 and its 200-day moving average price is $36.51.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.36 earnings per share (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 business had revenue of $121.65 million during the quarter, compared to analysts' expectations of $119.14 million. During the same period in the previous year, the company earned $1.07 earnings per share. The business's revenue for the quarter was down 28.7% compared to the same quarter last year. Equities research analysts anticipate that MGP Ingredients, Inc. will post 5.56 EPS for the current fiscal year.

MGP Ingredients Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 30th. Stockholders of record on Friday, May 16th will be issued a dividend of $0.12 per share. The ex-dividend date is Friday, May 16th. This represents a $0.48 annualized dividend and a dividend yield of 1.48%. MGP Ingredients's payout ratio is 106.67%.

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.