Jefferies Financial Group Inc. Has $262,000 Holdings in MGP Ingredients, Inc. (NASDAQ:MGPI)

Jefferies Financial Group Inc. cut its holdings in shares of MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 77.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,658 shares of the company's stock after selling 23,342 shares during the quarter. Jefferies Financial Group Inc.'s holdings in MGP Ingredients were worth $262,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Quarry LP acquired a new position in MGP Ingredients during the 4th quarter worth approximately $75,000. PNC Financial Services Group Inc. grew its stake 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. AlphaQuest LLC grew its stake in shares of MGP Ingredients by 1,167.8% during the fourth quarter. AlphaQuest LLC now owns 3,778 shares of the company's stock worth $149,000 after purchasing an additional 3,480 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in MGP Ingredients by 21.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,662 shares of the company's stock valued at $223,000 after buying an additional 1,015 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in MGP Ingredients by 687.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,400 shares of the company's stock valued at $252,000 after buying an additional 5,587 shares during the last quarter. Hedge funds and other institutional investors own 77.11% of the company's stock.

MGP Ingredients Stock Up 0.3%

Shares of NASDAQ:MGPI traded up $0.10 during midday trading on Friday, hitting $30.52. 291,018 shares of the company's stock traded hands, compared to its average volume of 345,351. The company has a market cap of $649.22 million, a PE ratio of 6.35 and a beta of 0.32. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.94 and a current ratio of 6.46. MGP Ingredients, Inc. has a twelve month low of $25.12 and a twelve month high of $92.52. The firm's fifty day moving average price is $29.68 and its two-hundred day moving average price is $35.74.

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

MGP Ingredients Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 30th. Shareholders of record on Friday, May 16th will be paid a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Friday, May 16th. MGP Ingredients's payout ratio is 106.67%.

Analysts Set New Price Targets

MGPI has been the topic of a number of research analyst reports. Wall Street Zen cut shares of MGP Ingredients from a "hold" rating to a "sell" rating in a report on Saturday, May 10th. Truist Financial cut their price target on shares of MGP Ingredients from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company reduced their price target 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. Finally, Lake Street Capital raised 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 report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, MGP Ingredients has a consensus rating of "Moderate Buy" and a consensus target price of $50.33.

Insider Buying and Selling at MGP Ingredients

In other news, Director Martin Roper purchased 15,000 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was purchased at an average cost of $33.10 per share, with a total value of $496,500.00. Following the purchase, the director now owns 18,180 shares in the company, valued at $601,758. This trade represents a 471.70% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Karen Seaberg sold 28,304 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $30.82, for a total transaction of $872,329.28. Following the transaction, the director now directly owns 283,569 shares in the company, valued at $8,739,596.58. The trade was a 9.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,417 shares of company stock valued at $905,556 in the last ninety days. Company insiders own 36.20% of the company's stock.

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.