Point72 Asia Singapore Pte. Ltd. Has $105,000 Holdings in MGP Ingredients, Inc. (NASDAQ:MGPI)

Point72 Asia Singapore Pte. Ltd. boosted its holdings in MGP Ingredients, Inc. (NASDAQ:MGPI) by 187.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,261 shares of the company’s stock after acquiring an additional 823 shares during the quarter. Point72 Asia Singapore Pte. Ltd.’s holdings in MGP Ingredients were worth $105,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. 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 valued at $29,000 after buying an additional 325 shares during the last quarter. Isthmus Partners LLC boosted its holdings in MGP Ingredients by 2.1% during the 2nd quarter. Isthmus Partners LLC now owns 41,427 shares of the company’s stock worth $31,000 after acquiring an additional 860 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of MGP Ingredients in the 2nd quarter worth $42,000. Farther Finance Advisors LLC raised its holdings in shares of MGP Ingredients by 45.3% in the third quarter. Farther Finance Advisors LLC now owns 597 shares of the company’s stock valued at $50,000 after purchasing an additional 186 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its holdings in shares of MGP Ingredients by 73.5% in the third quarter. First Horizon Advisors Inc. now owns 760 shares of the company’s stock valued at $63,000 after purchasing an additional 322 shares during the last quarter. Institutional investors and hedge funds own 77.11% of the company’s stock.

Insider Buying and Selling at MGP Ingredients

In related news, Director Lori L.S. Mingus sold 7,050 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $46.03, for a total transaction of $324,511.50. Following the sale, the director now directly owns 37,373 shares in the company, valued at approximately $1,720,279.19. The trade was a 15.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 36.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on MGPI. Truist Financial reduced their price objective on shares of MGP Ingredients from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Lake Street Capital lowered MGP Ingredients from a “buy” rating to a “hold” rating and reduced their target price for the company from $135.00 to $75.00 in a report on Friday, October 18th. Roth Mkm dropped their price target on MGP Ingredients from $69.00 to $65.00 and set a “buy” rating on the stock in a report on Monday, November 4th. Loop Capital set a $75.00 price objective on MGP Ingredients in a research note on Friday, October 18th. Finally, TD Cowen cut MGP Ingredients from a “buy” rating to a “hold” rating and lowered their target price for the stock from $66.00 to $50.00 in a research note on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.67.

MGP Ingredients Stock Performance

Shares of MGPI opened at $46.27 on Friday. MGP Ingredients, Inc. has a 1 year low of $43.48 and a 1 year high of $102.42. The company has a debt-to-equity ratio of 0.31, a current ratio of 6.46 and a quick ratio of 1.94. The stock’s fifty day moving average price is $59.40 and its two-hundred day moving average price is $72.94. The firm has a market cap of $1.02 billion, a PE ratio of 9.62, a PEG ratio of 0.74 and a beta of 0.63.

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

MGP Ingredients Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 29th. Investors of record on Friday, November 15th were paid a $0.12 dividend. The ex-dividend date was Friday, November 15th. This represents a $0.48 dividend on an annualized basis and a yield of 1.04%. MGP Ingredients’s dividend payout ratio is 9.98%.

MGP Ingredients Company 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.