Insider Selling: MGP Ingredients Inc (NASDAQ:MGPI) Director Sells $21,870.00 in Stock

MGP Ingredients Inc (NASDAQ:MGPI) Director Karen Seaberg sold 250 shares of the business’s stock in a transaction that occurred on Saturday, February 1st. The stock was sold at an average price of $87.48, for a total transaction of $21,870.00. Following the sale, the director now directly owns 3,977 shares in the company, valued at approximately $347,907.96. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Karen Seaberg also recently made the following trade(s):

• On Wednesday, May 6th, Karen Seaberg sold 3,406 shares of MGP Ingredients stock. The stock was sold at an average price of $37.42, for a total transaction of $127,452.52.
• On Monday, May 4th, Karen Seaberg sold 10,000 shares of MGP Ingredients stock. The stock was sold at an average price of $38.17, for a total transaction of $381,700.00.
• On Friday, May 1st, Karen Seaberg sold 9,500 shares of MGP Ingredients stock. The stock was sold at an average price of $38.14, for a total transaction of $362,330.00.
• On Friday, March 6th, Karen Seaberg sold 345 shares of MGP Ingredients stock. The stock was sold at an average price of $29.02, for a total transaction of $10,011.90.
• On Wednesday, April 29th, Karen Seaberg sold 115 shares of MGP Ingredients stock. The stock was sold at an average price of $86.20, for a total transaction of $9,913.00.

MGPI opened at $38.72 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.86 and a quick ratio of 2.41. The firm has a fifty day moving average price of $36.08 and a 200 day moving average price of $37.87. MGP Ingredients Inc has a 1 year low of $21.64 and a 1 year high of $69.90. The stock has a market cap of $679.88 million, a P/E ratio of 17.42 and a beta of 1.73.

MGP Ingredients (NASDAQ:MGPI) last posted its earnings results on Thursday, April 30th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.26. MGP Ingredients had a net margin of 10.37% and a return on equity of 17.47%. The firm had revenue of $99.10 million during the quarter, compared to analysts’ expectations of $87.77 million. During the same period in the previous year, the business posted $0.57 EPS. The business’s revenue was up 11.2% compared to the same quarter last year. Equities analysts expect that MGP Ingredients Inc will post 2.43 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 5th. Shareholders of record on Friday, May 22nd will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date is Thursday, May 21st. MGP Ingredients’s dividend payout ratio is presently 21.15%.

MGPI has been the topic of several recent research reports. BidaskClub raised shares of MGP Ingredients from a “hold” rating to a “buy” rating in a report on Tuesday, April 14th. Zacks Investment Research raised shares of MGP Ingredients from a “sell” rating to a “hold” rating and set a $42.00 price objective on the stock in a report on Wednesday, April 29th. SunTrust Banks raised shares of MGP Ingredients from a “hold” rating to a “buy” rating and upped their price objective for the company from $40.00 to $45.00 in a report on Monday, April 6th. National Securities initiated coverage on shares of MGP Ingredients in a report on Tuesday, April 14th. They issued a “buy” rating and a $50.00 price objective on the stock. Finally, Craig Hallum dropped their price objective on shares of MGP Ingredients from $40.00 to $32.00 and set a “hold” rating on the stock in a report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $42.25.

Large investors have recently bought and sold shares of the business. Marshall Wace North America L.P. acquired a new position in MGP Ingredients during the first quarter worth $37,000. Advisor Group Inc. raised its position in shares of MGP Ingredients by 672.5% in the fourth quarter. Advisor Group Inc. now owns 842 shares of the company’s stock valued at $41,000 after buying an additional 733 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of MGP Ingredients by 42.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,000 shares of the company’s stock valued at $48,000 after buying an additional 300 shares during the last quarter. Group One Trading L.P. acquired a new stake in shares of MGP Ingredients in the first quarter valued at about $27,000. Finally, FinTrust Capital Advisors LLC acquired a new stake in shares of MGP Ingredients in the first quarter valued at about $30,000. Institutional investors own 95.60% of the company’s stock.

About MGP Ingredients

MGP Ingredients, Inc, together with its subsidiaries, produces and supplies distilled spirits, and specialty wheat proteins and starch food ingredients. It operates in two segments, Distillery Products and Ingredient Solutions. The Distillery Products segment provides food grade alcohol for beverage applications that include bourbon and rye whiskeys, as well as grain neutral spirits, including vodka and gin; and food grade industrial alcohol, which is used as an ingredient in foods, personal care products, cleaning solutions, pharmaceuticals, and various other products.

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