Numerai GP LLC Takes Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

Numerai GP LLC purchased a new stake in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 43,977 shares of the company's stock, valued at approximately $1,731,000. Numerai GP LLC owned about 0.20% of MGP Ingredients at the end of the most recent quarter.

Several other large investors have also modified their holdings of MGPI. Wasatch Advisors LP acquired a new stake in MGP Ingredients in the fourth quarter valued at approximately $28,388,000. Raymond James Financial Inc. acquired a new position in MGP Ingredients during the fourth quarter worth $13,125,000. Cubist Systematic Strategies LLC bought a new position in shares of MGP Ingredients in the fourth quarter valued at about $7,164,000. Assenagon Asset Management S.A. lifted its holdings in MGP Ingredients by 1,292.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 188,693 shares of the company's stock valued at $7,429,000 after buying an additional 175,142 shares during the period. Finally, Marshall Wace LLP raised its holdings in MGP Ingredients by 90.0% during the 4th quarter. Marshall Wace LLP now owns 340,453 shares of the company's stock worth $13,404,000 after buying an additional 161,295 shares during the period. 77.11% of the stock is owned by institutional investors.

MGP Ingredients Stock Performance

NASDAQ MGPI traded down $0.90 during trading hours on Monday, reaching $31.90. The company's stock had a trading volume of 119,528 shares, compared to its average volume of 341,307. MGP Ingredients, Inc. has a 52 week low of $25.12 and a 52 week high of $92.52. The stock has a market cap of $678.47 million, a PE ratio of 6.64 and a beta of 0.32. The business has a 50-day simple moving average of $29.67 and a 200 day simple moving average of $36.12. The company has a current ratio of 6.46, a quick ratio of 1.94 and a debt-to-equity ratio of 0.31.

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, topping analysts' consensus estimates of $0.31 by $0.05. The firm had revenue of $121.65 million during the quarter, compared to analyst estimates of $119.14 million. MGP Ingredients had a return on equity of 14.39% and a net margin of 14.44%. The company's revenue was down 28.7% on a year-over-year basis. During the same period last year, the company earned $1.07 earnings per share. Equities research analysts predict that MGP Ingredients, Inc. will post 5.56 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The firm also recently announced 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 of this dividend is Friday, May 16th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.50%. MGP Ingredients's dividend payout ratio is presently 106.67%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on MGPI shares. Lake Street Capital raised shares of MGP Ingredients from a "hold" rating to a "buy" rating and reduced their target price for the company from $55.00 to $45.00 in a research report on Thursday, February 27th. Wells Fargo & Company cut their price target on MGP Ingredients from $40.00 to $37.00 and set an "overweight" rating for the company in a research note on Wednesday, April 2nd. Truist Financial cut their price objective on MGP Ingredients from $40.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, StockNews.com cut MGP Ingredients from a "hold" rating to a "sell" rating in a research note on Saturday, May 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $50.33.

Insiders Place Their Bets

In other MGP Ingredients news, Director Karen Seaberg acquired 5,348 shares of MGP Ingredients 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 acquisition, 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Martin Roper bought 15,000 shares of the stock in a transaction dated 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 acquisition, the director now directly owns 18,180 shares in the company, valued at approximately $601,758. The trade was a 471.70% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 29,417 shares of company stock valued at $905,556. Company insiders own 36.20% of the company's stock.

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.