MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its holdings in shares of MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 79.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,867 shares of the company's stock after selling 149,826 shares during the period. Assenagon Asset Management S.A. owned 0.18% of MGP Ingredients worth $1,142,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Isthmus Partners LLC increased 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 worth $1,511,000 after buying an additional 684 shares during the period. PNC Financial Services Group Inc. grew 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 acquiring an additional 687 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of MGP Ingredients by 58.3% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,996 shares of the company's stock worth $79,000 after acquiring an additional 735 shares during the period. GAMMA Investing LLC lifted its position in MGP Ingredients by 114.8% in the 1st quarter. GAMMA Investing LLC now owns 1,497 shares of the company's stock valued at $44,000 after purchasing an additional 800 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in MGP Ingredients by 21.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,662 shares of the company's stock valued at $223,000 after purchasing an additional 1,015 shares during the last quarter. 77.11% of the stock is currently owned by institutional investors.

Insider Buying and Selling at MGP Ingredients

In other news, Director Martin Roper acquired 15,000 shares of the firm's stock in a transaction that occurred on Thursday, May 8th. The stock was acquired at an average cost of $33.10 per share, with a total value of $496,500.00. Following the acquisition, the director now owns 18,180 shares in the company, valued at approximately $601,758. This represents a 471.70% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 34.40% of the company's stock.

MGP Ingredients Trading Up 0.2%

Shares of MGPI opened at $29.79 on Wednesday. MGP Ingredients, Inc. has a 1-year low of $25.12 and a 1-year high of $92.52. The business's 50-day moving average price is $29.98 and its 200 day moving average price is $33.46. The company has a current ratio of 2.83, a quick ratio of 0.76 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $633.63 million, a P/E ratio of 66.20 and a beta of 0.32.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last announced 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 1.66% and a return on equity of 12.48%. The firm's revenue was down 28.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.07 earnings per share. Analysts expect that MGP Ingredients, Inc. will post 5.56 earnings per share for the current year.

MGP Ingredients Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 30th. Shareholders of record on Friday, May 16th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.61%. The ex-dividend date was Friday, May 16th. MGP Ingredients's payout ratio is 106.67%.

Analyst Ratings Changes

Several analysts have weighed in on MGPI shares. Truist Financial cut their target price on MGP Ingredients from $40.00 to $35.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Wall Street Zen cut shares of MGP Ingredients from a "hold" rating to a "sell" rating in a research note on Saturday, May 10th. Wells Fargo & Company decreased 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. Finally, Lake Street Capital raised shares of MGP Ingredients from a "hold" rating to a "buy" rating and lowered their target price for the company from $55.00 to $45.00 in a research note on Thursday, February 27th. One 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's stock. Based on data from MarketBeat.com, MGP Ingredients currently has an average rating of "Moderate Buy" and a consensus target price 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.

Want to see what other hedge funds are holding MGPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.