MGP Ingredients, Inc. (NASDAQ:MGPI) Director Karen Seaberg Sells 28,304 Shares

MGP Ingredients, Inc. (NASDAQ:MGPI) Director Karen Seaberg sold 28,304 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $30.82, for a total transaction of $872,329.28. Following the completion of the transaction, the director now owns 283,569 shares of the company’s stock, valued at $8,739,596.58. This represents a 9.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Karen Seaberg also recently made the following trade(s):

• On Tuesday, March 11th, Karen Seaberg bought 5,348 shares of MGP Ingredients stock. The stock was purchased at an average price of $32.59 per share, with a total value of $174,291.32.

MGP Ingredients Stock Performance

NASDAQ:MGPI traded up $0.31 during midday trading on Thursday, hitting $30.83. The company’s stock had a trading volume of 428,710 shares, compared to its average volume of 296,904. MGP Ingredients, Inc. has a fifty-two week low of $29.84 and a fifty-two week high of $92.52. The firm’s 50 day moving average is $34.43 and its 200-day moving average is $52.82. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.46 and a quick ratio of 1.94. The firm has a market cap of $655.75 million, a P/E ratio of 6.41 and a beta of 0.57.

MGP Ingredients Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.48 annualized dividend and a yield of 1.56%. MGP Ingredients’s dividend payout ratio (DPR) is presently 31.79%.

Hedge Funds Weigh In On MGP Ingredients

Several hedge funds and other institutional investors have recently bought and sold shares of MGPI. Farther Finance Advisors LLC boosted its position in MGP Ingredients by 45.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 597 shares of the company’s stock worth $50,000 after purchasing an additional 186 shares in the last quarter. Assetmark Inc. boosted its position in MGP Ingredients by 6.5% in the 3rd quarter. Assetmark Inc. now owns 11,383 shares of the company’s stock worth $948,000 after purchasing an additional 699 shares in the last quarter. Atria Investments Inc purchased a new stake in MGP Ingredients in the 3rd quarter worth approximately $304,000. GSA Capital Partners LLP purchased a new stake in MGP Ingredients in the 3rd quarter worth approximately $1,010,000. Finally, Prime Capital Investment Advisors LLC purchased a new stake in MGP Ingredients in the 3rd quarter worth approximately $201,000. Institutional investors and hedge funds own 77.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Lake Street Capital upgraded shares of 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 report on Thursday, February 27th. StockNews.com downgraded shares of MGP Ingredients from a “hold” rating to a “sell” rating in a report on Friday, February 28th. Roth Mkm cut their price objective on shares of MGP Ingredients from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Finally, Wells Fargo & Company cut their price objective on shares of MGP Ingredients from $58.00 to $44.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given 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 $67.00.

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.