MGP Ingredients, Inc. (NASDAQ:MGPI) VP Stephen J. Glaser sold 5,800 shares of the company’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $74.92, for a total transaction of $434,536.00. Following the completion of the sale, the vice president now owns 17,080 shares in the company, valued at approximately $1,279,633.60. The sale was disclosed in a filing with the SEC, which is accessible through this link.
MGP Ingredients, Inc. (MGPI) opened at $75.41 on Friday. The company has a quick ratio of 1.54, a current ratio of 4.45 and a debt-to-equity ratio of 0.21. The stock has a market cap of $1,261.23, a P/E ratio of 43.59, a PEG ratio of 2.22 and a beta of 0.95. MGP Ingredients, Inc. has a 1-year low of $41.16 and a 1-year high of $80.75.
MGP Ingredients (NASDAQ:MGPI) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.45. MGP Ingredients had a net margin of 10.56% and a return on equity of 18.70%. The business had revenue of $86.30 million during the quarter, compared to analysts’ expectations of $83.57 million. During the same period last year, the firm posted $0.55 earnings per share. The business’s revenue was up 8.0% on a year-over-year basis. analysts anticipate that MGP Ingredients, Inc. will post 2.2 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in MGPI. TimesSquare Capital Management LLC lifted its stake in MGP Ingredients by 26.9% during the second quarter. TimesSquare Capital Management LLC now owns 1,234,770 shares of the company’s stock valued at $63,183,000 after purchasing an additional 261,370 shares during the last quarter. Granite Investment Partners LLC acquired a new stake in MGP Ingredients during the third quarter valued at approximately $12,105,000. Jennison Associates LLC acquired a new stake in MGP Ingredients during the third quarter valued at approximately $10,880,000. Thrivent Financial For Lutherans lifted its stake in MGP Ingredients by 37.0% during the second quarter. Thrivent Financial For Lutherans now owns 556,750 shares of the company’s stock valued at $28,489,000 after purchasing an additional 150,510 shares during the last quarter. Finally, Conestoga Capital Advisors LLC lifted its stake in MGP Ingredients by 20.0% during the third quarter. Conestoga Capital Advisors LLC now owns 896,389 shares of the company’s stock valued at $54,348,000 after purchasing an additional 149,625 shares during the last quarter.
Several research firms recently weighed in on MGPI. Zacks Investment Research lowered shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. BidaskClub cut shares of MGP Ingredients from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 9th. SunTrust Banks restated a “buy” rating on shares of MGP Ingredients in a research report on Friday, November 3rd. Finally, Stifel Nicolaus started coverage on shares of MGP Ingredients in a research report on Tuesday, December 5th. They issued a “hold” rating and a $73.00 target price for the company. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. MGP Ingredients presently has a consensus rating of “Buy” and a consensus price target of $71.75.
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MGP Ingredients Company Profile
MGP Ingredients, Inc is a producer and supplier of distilled spirits, and specialty wheat protein and starch food ingredients. The Company’s distilled spirits include bourbon and rye whiskeys, and grain neutral spirits, including vodka and gin. The Company’s segments include distillery products and ingredient solutions.
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