MGP Ingredients (NASDAQ:MGPI – Get Free Report) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.
MGPI has been the subject of a number of other reports. Roth Mkm decreased their price target on shares of MGP Ingredients from $100.00 to $95.00 and set a “buy” rating for the company in a report on Thursday. Wedbush restated an “outperform” rating and set a $120.00 price target on shares of MGP Ingredients in a report on Wednesday, April 10th.
View Our Latest Stock Analysis on MGP Ingredients
MGP Ingredients Trading Up 1.7 %
MGP Ingredients (NASDAQ:MGPI – Get Free Report) last posted its earnings results on Thursday, February 22nd. The company reported $1.64 EPS for the quarter, topping the consensus estimate of $1.38 by $0.26. The firm had revenue of $214.90 million for the quarter, compared to the consensus estimate of $206.87 million. MGP Ingredients had a net margin of 12.72% and a return on equity of 16.03%. The business’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 earnings per share. As a group, sell-side analysts anticipate that MGP Ingredients will post 6.18 earnings per share for the current fiscal year.
Insider Activity at MGP Ingredients
In related news, VP Erika Lapish bought 500 shares of MGP Ingredients stock in a transaction that occurred on Monday, February 26th. The stock was acquired at an average price of $77.86 per share, for a total transaction of $38,930.00. Following the completion of the purchase, the vice president now owns 550 shares in the company, valued at $42,823. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 28.70% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On MGP Ingredients
Hedge funds have recently made changes to their positions in the stock. Global Retirement Partners LLC lifted its stake in MGP Ingredients by 464.8% during the fourth quarter. Global Retirement Partners LLC now owns 401 shares of the company’s stock worth $37,000 after purchasing an additional 330 shares during the period. Legacy Financial Group LLC bought a new position in MGP Ingredients during the third quarter worth about $61,000. Quest Partners LLC bought a new position in MGP Ingredients during the fourth quarter worth about $72,000. Bare Financial Services Inc bought a new position in MGP Ingredients during the fourth quarter worth about $106,000. Finally, Quantbot Technologies LP lifted its stake in MGP Ingredients by 99.9% during the third quarter. Quantbot Technologies LP now owns 1,641 shares of the company’s stock worth $173,000 after purchasing an additional 820 shares during the period. Institutional investors 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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