MGP Ingredients (NASDAQ:MGPI – Get Free Report) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Thursday.
Separately, Wedbush restated an “outperform” rating and set a $120.00 price target on shares of MGP Ingredients in a research note on Wednesday, April 10th.
Get Our Latest Stock Analysis on MGP Ingredients
MGP Ingredients Price Performance
MGP Ingredients (NASDAQ:MGPI – Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.26. MGP Ingredients had a return on equity of 16.03% and a net margin of 12.72%. The business had revenue of $214.90 million for the quarter, compared to analyst estimates of $206.87 million. During the same quarter last year, the company earned $1.01 EPS. The business’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, equities research analysts forecast that MGP Ingredients will post 6.18 EPS for the current fiscal year.
Insider Buying and Selling
In related news, VP Erika Lapish bought 500 shares of the stock in a transaction on Monday, February 26th. The shares were bought at an average cost of $77.86 per share, for a total transaction of $38,930.00. Following the purchase, the vice president now owns 550 shares of the company’s stock, valued at approximately $42,823. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 28.70% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the stock. Money Concepts Capital Corp acquired a new position in shares of MGP Ingredients in the fourth quarter valued at approximately $32,000. Global Retirement Partners LLC increased its holdings in shares of MGP Ingredients by 464.8% in the fourth quarter. Global Retirement Partners LLC now owns 401 shares of the company’s stock valued at $37,000 after purchasing an additional 330 shares during the period. Legacy Financial Group LLC acquired a new position in shares of MGP Ingredients in the third quarter valued at approximately $61,000. Lazard Asset Management LLC increased its holdings in shares of MGP Ingredients by 219.0% in the fourth quarter. Lazard Asset Management LLC now owns 721 shares of the company’s stock valued at $76,000 after purchasing an additional 495 shares during the period. Finally, Quest Partners LLC acquired a new position in shares of MGP Ingredients in the fourth quarter valued at approximately $72,000. Institutional investors and hedge funds own 77.11% of the company’s stock.
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.
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