AdvisorShares Investments LLC Reduces Stock Position in MGP Ingredients, Inc. (NASDAQ:MGPI)

AdvisorShares Investments LLC trimmed its holdings in MGP Ingredients, Inc. (NASDAQ:MGPI) by 3.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,465 shares of the company’s stock after selling 142 shares during the period. AdvisorShares Investments LLC’s holdings in MGP Ingredients were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MGPI. Principal Securities Inc. bought a new position in shares of MGP Ingredients in the fourth quarter worth $190,000. Jump Financial LLC lifted its holdings in MGP Ingredients by 71.1% during the 4th quarter. Jump Financial LLC now owns 16,082 shares of the company’s stock worth $1,584,000 after purchasing an additional 6,681 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in MGP Ingredients by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 698,346 shares of the company’s stock worth $68,804,000 after purchasing an additional 17,967 shares during the period. Thoroughbred Financial Services LLC grew its holdings in MGP Ingredients by 14.2% during the 4th quarter. Thoroughbred Financial Services LLC now owns 2,372 shares of the company’s stock valued at $233,000 after buying an additional 295 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in shares of MGP Ingredients during the fourth quarter valued at about $72,000. Institutional investors own 77.11% of the company’s stock.

MGP Ingredients Price Performance

MGPI opened at $81.80 on Thursday. The company has a current ratio of 6.44, a quick ratio of 2.22 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $1.80 billion, a P/E ratio of 18.89, a PEG ratio of 1.30 and a beta of 0.59. The stock has a 50-day moving average price of $82.98 and a 200-day moving average price of $80.56. MGP Ingredients, Inc. has a 12-month low of $68.86 and a 12-month high of $111.20.

MGP Ingredients (NASDAQ:MGPI) last issued its earnings results on Thursday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.54 by $0.17. MGP Ingredients had a return on equity of 14.98% and a net margin of 12.18%. The business had revenue of $190.80 million during the quarter, compared to analyst estimates of $189.06 million. During the same quarter in the prior year, the firm earned $1.49 earnings per share. MGP Ingredients’s revenue for the quarter was down 8.7% on a year-over-year basis. Equities analysts predict that MGP Ingredients, Inc. will post 6.25 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Friday, August 16th. MGP Ingredients’s dividend payout ratio is currently 11.09%.

Insider Buying and Selling

In other news, Director Karen Seaberg sold 1,109 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $90.14, for a total transaction of $99,965.26. Following the transaction, the director now directly owns 134,969 shares of the company’s stock, valued at $12,166,105.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 36.20% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on MGPI. StockNews.com raised shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Monday, August 5th. Roth Mkm restated a “buy” rating and set a $92.00 price target on shares of MGP Ingredients in a research report on Thursday, July 25th.

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.