Schonfeld Strategic Advisors LLC Purchases New Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

Schonfeld Strategic Advisors LLC acquired a new position in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 22,897 shares of the company's stock, valued at approximately $901,000. Schonfeld Strategic Advisors LLC owned 0.10% of MGP Ingredients as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its stake in shares of MGP Ingredients by 162.0% in the 4th quarter. GAMMA Investing LLC now owns 697 shares of the company's stock valued at $27,000 after purchasing an additional 431 shares during the last quarter. Isthmus Partners LLC lifted 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 last quarter. PNC Financial Services Group Inc. lifted its position in MGP Ingredients by 56.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,913 shares of the company's stock worth $75,000 after buying an additional 687 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position 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 worth $223,000 after buying an additional 1,015 shares during the last quarter. Finally, Assetmark Inc. lifted its position in MGP Ingredients by 9.6% in the fourth quarter. Assetmark Inc. now owns 12,475 shares of the company's stock worth $491,000 after buying an additional 1,092 shares during the last quarter. Institutional investors own 77.11% of the company's stock.

MGP Ingredients Stock Up 2.0%

NASDAQ:MGPI traded up $0.67 during trading hours on Monday, reaching $33.56. The company's stock had a trading volume of 405,472 shares, compared to its average volume of 337,640. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.94 and a current ratio of 6.46. The company has a market capitalization of $713.89 million, a P/E ratio of 6.98 and a beta of 0.32. The stock has a 50 day moving average price of $29.72 and a two-hundred day moving average price of $36.91. MGP Ingredients, Inc. has a 12 month low of $25.12 and a 12 month high of $92.52.

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

MGP Ingredients Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Friday, May 16th. This represents a $0.48 dividend on an annualized basis and a yield of 1.43%. MGP Ingredients's payout ratio is 106.67%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on MGP Ingredients from $40.00 to $37.00 and set an "overweight" rating for the company in a research report on Wednesday, April 2nd. StockNews.com lowered MGP Ingredients from a "hold" rating to a "sell" rating in a research note on Saturday. Truist Financial reduced 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. Finally, Lake Street Capital upgraded MGP Ingredients from a "hold" rating to a "buy" rating and reduced their target price for the stock from $55.00 to $45.00 in a research note on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.33.

Insider Buying and Selling at MGP Ingredients

In other MGP Ingredients news, Director Martin Roper acquired 15,000 shares of the company's stock in a transaction dated Thursday, May 8th. The shares were acquired at an average cost of $33.10 per share, with a total value of $496,500.00. Following the acquisition, the director now directly owns 18,180 shares of the company's stock, valued at approximately $601,758. The trade was a 471.70% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Karen Seaberg acquired 5,348 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was acquired at an average cost of $32.59 per share, for a total transaction of $174,291.32. Following the completion of the acquisition, the director now directly owns 358,899 shares in the company, valued at approximately $11,696,518.41. The trade was a 1.51% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 29,417 shares of company stock worth $905,556. 36.20% of the stock is owned by corporate insiders.

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.