GAMMA Investing LLC Has $1.29 Million Stock Holdings in MGP Ingredients, Inc. (NASDAQ:MGPI)

GAMMA Investing LLC raised its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 6,210.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 43,982 shares of the company's stock after purchasing an additional 43,285 shares during the quarter. GAMMA Investing LLC owned 0.21% of MGP Ingredients worth $1,292,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Rhumbline Advisers increased its holdings in MGP Ingredients by 4.4% in the 4th quarter. Rhumbline Advisers now owns 41,464 shares of the company's stock valued at $1,632,000 after buying an additional 1,754 shares during the period. Principal Financial Group Inc. boosted its position in shares of MGP Ingredients by 3.0% during the 4th quarter. Principal Financial Group Inc. now owns 68,634 shares of the company's stock valued at $2,702,000 after acquiring an additional 1,973 shares in the last quarter. Bank of New York Mellon Corp increased its stake in MGP Ingredients by 22.4% in the fourth quarter. Bank of New York Mellon Corp now owns 177,291 shares of the company's stock valued at $6,980,000 after acquiring an additional 32,488 shares during the period. Proficio Capital Partners LLC bought a new stake in MGP Ingredients in the fourth quarter valued at about $832,000. Finally, Illumine Investment Management LLC acquired a new position in MGP Ingredients in the fourth quarter worth about $263,000. Institutional investors and hedge funds own 77.11% of the company's stock.

MGP Ingredients Trading Up 0.2%

Shares of NASDAQ MGPI traded up $0.05 during midday trading on Tuesday, hitting $29.79. The stock had a trading volume of 221,506 shares, compared to its average volume of 349,695. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.83 and a quick ratio of 0.76. MGP Ingredients, Inc. has a fifty-two week low of $25.12 and a fifty-two week high of $92.52. The firm has a market cap of $633.63 million, a P/E ratio of 6.03 and a beta of 0.32. The company's 50-day simple moving average is $29.96 and its 200 day simple moving average is $33.49.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.31 by $0.05. MGP Ingredients had a net margin of 1.66% and a return on equity of 12.48%. The company had revenue of $121.65 million for the quarter, compared to the consensus estimate of $119.14 million. During the same period in the prior year, the company posted $1.07 EPS. The company's revenue was down 28.7% compared to the same quarter last year. Research analysts anticipate that MGP Ingredients, Inc. will post 5.56 EPS for the current year.

MGP Ingredients Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, May 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.61%. MGP Ingredients's dividend payout ratio (DPR) is 106.67%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MGPI. Truist Financial decreased their price objective on MGP Ingredients from $40.00 to $35.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company decreased their price target on MGP Ingredients from $40.00 to $37.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 2nd. Lake Street Capital upgraded MGP Ingredients from a "hold" rating to a "buy" rating and dropped their price objective for the stock from $55.00 to $45.00 in a research note on Thursday, February 27th. Finally, Wall Street Zen downgraded shares of MGP Ingredients from a "hold" rating to a "sell" rating in a research note on Saturday, May 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $50.33.

Insider Transactions at MGP Ingredients

In other news, Director Martin Roper bought 15,000 shares of the business's stock in a transaction on Thursday, May 8th. The shares were purchased at an average price of $33.10 per share, for a total transaction of $496,500.00. Following the purchase, the director now owns 18,180 shares of the company's stock, valued at approximately $601,758. The trade was a 471.70% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 34.40% of the stock is owned by insiders.

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.