MGP Ingredients, Inc. (NASDAQ:MGPI) Receives Average Recommendation of “Hold” from Analysts

Shares of MGP Ingredients, Inc. (NASDAQ:MGPI) have earned an average rating of “Hold” from the seven brokerages that are currently covering the firm, MarketBeat.com reports. Two investment analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $33.60.

A number of analysts have recently issued reports on the company. Benchmark initiated coverage on MGP Ingredients in a research report on Thursday, January 22nd. They set a “buy” rating and a $35.00 price objective on the stock. TD Cowen lowered their price target on shares of MGP Ingredients from $27.00 to $24.00 and set a “hold” rating on the stock in a report on Thursday, January 8th. Weiss Ratings restated a “sell (d)” rating on shares of MGP Ingredients in a research note on Thursday, January 22nd. Zacks Research cut shares of MGP Ingredients from a “hold” rating to a “strong sell” rating in a research note on Monday, January 12th. Finally, Wall Street Zen lowered shares of MGP Ingredients from a “buy” rating to a “hold” rating in a research report on Sunday.

Insider Activity at MGP Ingredients

In related news, Director Karen Seaberg sold 181,095 shares of the business’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $24.24, for a total value of $4,389,742.80. Following the sale, the director owned 37,417 shares of the company’s stock, valued at $906,988.08. The trade was a 82.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last ninety days, insiders sold 304,535 shares of company stock worth $7,509,168. 34.40% of the stock is owned by company insiders.

Hedge Funds Weigh In On MGP Ingredients

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Osaic Holdings Inc. increased its holdings in shares of MGP Ingredients by 130.3% during the second quarter. Osaic Holdings Inc. now owns 935 shares of the company’s stock worth $28,000 after buying an additional 529 shares in the last quarter. Nisa Investment Advisors LLC grew its position in MGP Ingredients by 653.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,304 shares of the company’s stock worth $32,000 after acquiring an additional 1,131 shares during the last quarter. Global Retirement Partners LLC acquired a new stake in MGP Ingredients during the 4th quarter valued at $32,000. Quadrant Capital Group LLC raised its position in MGP Ingredients by 237.0% in the 4th quarter. Quadrant Capital Group LLC now owns 1,830 shares of the company’s stock valued at $44,000 after purchasing an additional 1,287 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in MGP Ingredients by 278.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,883 shares of the company’s stock worth $56,000 after purchasing an additional 1,386 shares in the last quarter. 77.11% of the stock is currently owned by institutional investors and hedge funds.

MGP Ingredients Stock Up 1.5%

MGPI stock opened at $25.93 on Friday. MGP Ingredients has a twelve month low of $21.67 and a twelve month high of $35.49. The company has a quick ratio of 0.69, a current ratio of 2.78 and a debt-to-equity ratio of 0.31. The company has a market cap of $552.05 million, a PE ratio of -38.70 and a beta of 0.42. The business’s 50-day simple moving average is $24.94 and its 200 day simple moving average is $25.55.

MGP Ingredients Company Profile

MGP Ingredients, Inc (NASDAQ: MGPI) is a leading producer of distilled spirits and specialty ingredient solutions for the food, beverage and consumer products industries. Headquartered in Atchison, Kansas, the company operates two main facilities—its historic Atchison plant, founded in 1941 as Midwest Grain Products, and a modern distillery in Lawrenceburg, Indiana. MGP Ingredients supplies an array of distillation products under its beverage and ingredient segments, serving brand owners, private-label producers and co-packers worldwide.

The beverage segment features a broad portfolio of premium spirits, including bourbon and rye whiskies, vodka, gin and neutral spirits.