Signaturefd LLC Has $65,000 Holdings in MGP Ingredients, Inc. (NASDAQ:MGPI)

Signaturefd LLC grew its position in MGP Ingredients, Inc. (NASDAQ:MGPI) by 1,055.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,218 shares of the company’s stock after purchasing an additional 2,026 shares during the period. Signaturefd LLC’s holdings in MGP Ingredients were worth $65,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of MGPI. Penserra Capital Management LLC lifted its stake in shares of MGP Ingredients by 333.3% in the first quarter. Penserra Capital Management LLC now owns 897 shares of the company’s stock worth $26,000 after buying an additional 690 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of MGP Ingredients by 114.8% in the first quarter. GAMMA Investing LLC now owns 1,497 shares of the company’s stock worth $44,000 after buying an additional 800 shares during the last quarter. CWM LLC lifted its stake in shares of MGP Ingredients by 127.4% in the first quarter. CWM LLC now owns 2,051 shares of the company’s stock worth $60,000 after buying an additional 1,149 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of MGP Ingredients by 56.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,913 shares of the company’s stock worth $75,000 after buying an additional 687 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of MGP Ingredients in the fourth quarter worth $75,000. 77.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at MGP Ingredients

In related news, Director Martin Roper acquired 15,000 shares of the stock in a transaction dated Thursday, May 8th. The stock was bought at an average price of $33.10 per share, for a total transaction of $496,500.00. Following the purchase, the director directly owned 18,180 shares of the company’s stock, valued at $601,758. The trade was a 471.70% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 34.40% of the company’s stock.

MGP Ingredients Stock Performance

NASDAQ:MGPI opened at $31.61 on Wednesday. MGP Ingredients, Inc. has a fifty-two week low of $25.12 and a fifty-two week high of $92.52. The company has a market cap of $672.34 million, a price-to-earnings ratio of 70.24 and a beta of 0.32. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.76 and a current ratio of 2.83. The stock has a fifty day moving average price of $30.55 and a 200-day moving average price of $31.44.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.31 by $0.05. MGP Ingredients had a net margin of 1.66% and a return on equity of 12.48%. The business had revenue of $121.65 million during the quarter, compared to the consensus estimate of $119.14 million. During the same period in the previous year, the business earned $1.07 earnings per share. The company’s revenue was down 28.7% on a year-over-year basis. As a group, equities analysts anticipate that MGP Ingredients, Inc. will post 5.56 EPS for the current fiscal year.

MGP Ingredients Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 30th. Stockholders of record on Friday, May 16th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Friday, May 16th. MGP Ingredients’s dividend payout ratio is currently 106.67%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research note on Saturday, May 10th. Wells Fargo & Company cut their target price on shares of MGP Ingredients from $40.00 to $37.00 and set an “overweight” rating on the stock in a report on Wednesday, April 2nd. Finally, Truist Financial lowered their price objective on shares of MGP Ingredients from $40.00 to $35.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $50.33.

About MGP Ingredients

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.