MGP Ingredients (NASDAQ:MGPI – Get Free Report) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Thursday.
Separately, Wedbush restated an “outperform” rating and issued a $120.00 price target on shares of MGP Ingredients in a report on Wednesday, April 10th.
Check Out Our Latest Research Report on MGP Ingredients
MGP Ingredients Stock Up 0.4 %
MGP Ingredients (NASDAQ:MGPI – Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $1.64 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.26. MGP Ingredients had a net margin of 12.72% and a return on equity of 16.03%. The firm had revenue of $214.90 million during the quarter, compared to the consensus estimate of $206.87 million. During the same quarter last year, the firm earned $1.01 earnings per share. The firm’s revenue was up 12.6% compared to the same quarter last year. On average, analysts forecast that MGP Ingredients will post 6.18 earnings per share for the current year.
Insiders Place Their Bets
In related news, VP Erika Lapish acquired 500 shares of MGP Ingredients stock in a transaction dated Monday, February 26th. The shares were acquired at an average cost of $77.86 per share, for a total transaction of $38,930.00. Following the completion of the transaction, the vice president now directly owns 550 shares of the company’s stock, valued at $42,823. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 28.70% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the company. Tudor Investment Corp Et Al acquired a new position in shares of MGP Ingredients in the third quarter valued at approximately $2,985,000. Victory Capital Management Inc. boosted its holdings in shares of MGP Ingredients by 58.0% during the third quarter. Victory Capital Management Inc. now owns 217,403 shares of the company’s stock worth $22,932,000 after purchasing an additional 79,791 shares during the last quarter. KLR Investment Advisors LLC increased its stake in shares of MGP Ingredients by 5.8% during the 3rd quarter. KLR Investment Advisors LLC now owns 2,911 shares of the company’s stock valued at $282,000 after acquiring an additional 159 shares during the last quarter. Peterson Wealth Services acquired a new position in MGP Ingredients during the fourth quarter worth approximately $221,000. Finally, HighTower Advisors LLC acquired a new position in shares of MGP Ingredients in the 3rd quarter valued at $493,000. Institutional investors and hedge funds own 77.11% of the company’s stock.
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.
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