Bare Financial Services Inc Buys New Holdings in MGP Ingredients, Inc. (NASDAQ:MGPI)

Bare Financial Services Inc bought a new stake in MGP Ingredients, Inc. (NASDAQ:MGPI) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,073 shares of the company’s stock, valued at approximately $106,000.

A number of other large investors have also recently bought and sold shares of the company. Mariner LLC boosted its position in MGP Ingredients by 0.3% in the third quarter. Mariner LLC now owns 54,569 shares of the company’s stock valued at $5,756,000 after buying an additional 142 shares during the last quarter. KLR Investment Advisors LLC boosted its position in MGP Ingredients by 5.8% in the 3rd quarter. KLR Investment Advisors LLC now owns 2,911 shares of the company’s stock worth $282,000 after purchasing an additional 159 shares in the last quarter. Cerity Partners LLC boosted its position in MGP Ingredients by 9.3% in the 4th quarter. Cerity Partners LLC now owns 2,186 shares of the company’s stock worth $215,000 after purchasing an additional 186 shares in the last quarter. Illinois Municipal Retirement Fund boosted its position in MGP Ingredients by 2.2% in the 4th quarter. Illinois Municipal Retirement Fund now owns 9,366 shares of the company’s stock worth $923,000 after purchasing an additional 206 shares in the last quarter. Finally, Assetmark Inc. boosted its position in MGP Ingredients by 3.0% in the 3rd quarter. Assetmark Inc. now owns 8,662 shares of the company’s stock worth $914,000 after purchasing an additional 254 shares in the last quarter. Hedge funds and other institutional investors own 77.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on MGPI. StockNews.com lowered MGP Ingredients from a “hold” rating to a “sell” rating in a research report on Friday, April 26th. Roth Mkm reduced their target price on MGP Ingredients from $100.00 to $95.00 and set a “buy” rating for the company in a research note on Thursday, April 25th. Finally, Wedbush reaffirmed an “outperform” rating and set a $120.00 target price on shares of MGP Ingredients in a research note on Monday.

MGP Ingredients Price Performance

NASDAQ MGPI traded up $4.01 during mid-day trading on Thursday, hitting $82.26. The stock had a trading volume of 279,297 shares, compared to its average volume of 209,992. The firm’s 50 day moving average is $81.74 and its 200 day moving average is $88.97. MGP Ingredients, Inc. has a twelve month low of $75.78 and a twelve month high of $124.96. The company has a debt-to-equity ratio of 0.33, a current ratio of 4.51 and a quick ratio of 1.47. The stock has a market capitalization of $1.81 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 1.15 and a beta of 0.75.

MGP Ingredients (NASDAQ:MGPI) last issued its earnings results on Thursday, February 22nd. The company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $206.87 million. During the same period last year, the company earned $1.01 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. Equities research analysts forecast that MGP Ingredients, Inc. will post 6.18 earnings per share for the current fiscal year.

MGP Ingredients Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Thursday, March 14th. MGP Ingredients’s dividend payout ratio (DPR) is presently 10.00%.

Insiders Place Their Bets

In related news, VP Erika Lapish bought 500 shares of the business’s stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of $77.86 per share, with a total value of $38,930.00. Following the purchase, the vice president now directly owns 550 shares of the company’s stock, valued at $42,823. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 36.20% 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.