MGP Ingredients, Inc. (NASDAQ:MGPI) Given Average Rating of “Hold” by Analysts

Shares of MGP Ingredients, Inc. (NASDAQ:MGPI) have been given a consensus recommendation of “Hold” by the seven analysts that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $33.60.

Several research firms have recently issued reports on MGPI. Wall Street Zen downgraded MGP Ingredients from a “buy” rating to a “hold” rating in a research note on Sunday. Zacks Research lowered MGP Ingredients from a “hold” rating to a “strong sell” rating in a report on Monday, January 12th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MGP Ingredients in a research report on Thursday, January 22nd. Wells Fargo & Company dropped their price target on shares of MGP Ingredients from $33.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, January 5th. Finally, TD Cowen reduced their price objective on shares of MGP Ingredients from $27.00 to $24.00 and set a “hold” rating for the company in a research note on Thursday, January 8th.

Insider Activity

In related news, Director Karen Seaberg sold 81,616 shares of the business’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $25.84, for a total transaction of $2,108,957.44. Following the completion of the transaction, the director owned 35,285 shares of the company’s stock, valued at approximately $911,764.40. The trade was a 69.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 304,535 shares of company stock valued at $7,509,168 over the last 90 days. Company insiders own 34.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. boosted its position in shares of MGP Ingredients by 130.3% in the second quarter. Osaic Holdings Inc. now owns 935 shares of the company’s stock valued at $28,000 after acquiring an additional 529 shares during the period. Nisa Investment Advisors LLC raised its stake in MGP Ingredients by 653.8% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,304 shares of the company’s stock valued at $32,000 after purchasing an additional 1,131 shares during the last quarter. Global Retirement Partners LLC acquired a new position in MGP Ingredients during the 4th quarter valued at $32,000. Quadrant Capital Group LLC boosted its holdings in MGP Ingredients by 237.0% in the 4th quarter. Quadrant Capital Group LLC now owns 1,830 shares of the company’s stock valued at $44,000 after purchasing an additional 1,287 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in MGP Ingredients by 278.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,883 shares of the company’s stock worth $56,000 after purchasing an additional 1,386 shares during the last quarter. 77.11% of the stock is owned by institutional investors.

MGP Ingredients Price Performance

Shares of MGPI opened at $25.93 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.69 and a current ratio of 2.78. The firm has a market cap of $552.05 million, a PE ratio of -38.70 and a beta of 0.42. The firm’s 50 day moving average price is $24.94 and its 200 day moving average price is $25.55. MGP Ingredients has a twelve month low of $21.67 and a twelve month high of $35.49.

About MGP Ingredients

MGP Ingredients, Inc (NASDAQ: MGPI) is a leading producer of distilled spirits and specialty ingredient solutions for the food, beverage and consumer products industries. Headquartered in Atchison, Kansas, the company operates two main facilities—its historic Atchison plant, founded in 1941 as Midwest Grain Products, and a modern distillery in Lawrenceburg, Indiana. MGP Ingredients supplies an array of distillation products under its beverage and ingredient segments, serving brand owners, private-label producers and co-packers worldwide.

The beverage segment features a broad portfolio of premium spirits, including bourbon and rye whiskies, vodka, gin and neutral spirits.