MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Sold by Champlain Investment Partners LLC

Champlain Investment Partners LLC lessened its stake in MGP Ingredients, Inc. (NASDAQ:MGPI) by 5.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,545,458 shares of the company’s stock after selling 82,333 shares during the period. Champlain Investment Partners LLC owned about 0.07% of MGP Ingredients worth $128,659,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC boosted its position in shares of MGP Ingredients by 477.9% during the second quarter. CWM LLC now owns 393 shares of the company’s stock worth $29,000 after buying an additional 325 shares during the period. LRI Investments LLC purchased a new position in MGP Ingredients during the 1st quarter valued at about $43,000. Innealta Capital LLC acquired a new position in MGP Ingredients in the 2nd quarter valued at about $42,000. Farther Finance Advisors LLC increased its stake in MGP Ingredients by 45.3% during the third quarter. Farther Finance Advisors LLC now owns 597 shares of the company’s stock worth $50,000 after purchasing an additional 186 shares during the period. Finally, First Horizon Advisors Inc. lifted its position in shares of MGP Ingredients by 73.5% during the third quarter. First Horizon Advisors Inc. now owns 760 shares of the company’s stock worth $63,000 after purchasing an additional 322 shares in the last quarter. Hedge funds and other institutional investors own 77.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Loop Capital set a $75.00 price objective on shares of MGP Ingredients in a report on Friday, October 18th. TD Cowen lowered MGP Ingredients from a “buy” rating to a “hold” rating and cut their price objective for the stock from $66.00 to $50.00 in a research report on Wednesday, November 6th. Roth Mkm decreased their target price on MGP Ingredients from $69.00 to $65.00 and set a “buy” rating for the company in a report on Monday, November 4th. StockNews.com upgraded MGP Ingredients from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, Truist Financial decreased their price objective on MGP Ingredients from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, MGP Ingredients has an average rating of “Moderate Buy” and an average target price of $76.67.

MGP Ingredients Trading Down 2.7 %

MGPI opened at $45.50 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.94 and a current ratio of 6.46. MGP Ingredients, Inc. has a one year low of $44.96 and a one year high of $102.42. The company has a market cap of $998.73 million, a P/E ratio of 9.46, a PEG ratio of 0.76 and a beta of 0.66. The business’s 50-day simple moving average is $66.96 and its 200-day simple moving average is $75.42.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.29 EPS for the quarter, beating the consensus estimate of $1.27 by $0.02. The company had revenue of $161.50 million for the quarter, compared to analyst estimates of $161.55 million. MGP Ingredients had a net margin of 14.44% and a return on equity of 14.39%. The firm’s revenue was down 23.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.34 earnings per share. As a group, equities research analysts expect that MGP Ingredients, Inc. will post 5.57 EPS for the current fiscal year.

MGP Ingredients Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 15th. This represents a $0.48 dividend on an annualized basis and a yield of 1.05%. MGP Ingredients’s dividend payout ratio (DPR) is presently 9.98%.

Insider Buying and Selling at MGP Ingredients

In related news, Director Lori L.S. Mingus sold 7,050 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $46.03, for a total transaction of $324,511.50. Following the completion of the sale, the director now owns 37,373 shares in the company, valued at $1,720,279.19. This represents a 15.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Karen Seaberg sold 1,109 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $90.14, for a total transaction of $99,965.26. Following the completion of the sale, the director now directly owns 134,969 shares of the company’s stock, valued at $12,166,105.66. The trade was a 0.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 36.20% of the stock is currently owned by 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.