Kornitzer Capital Management Inc. KS Sells 28,835 Shares of MGP Ingredients Inc (MGPI)

Kornitzer Capital Management Inc. KS decreased its position in shares of MGP Ingredients Inc (NASDAQ:MGPI) by 15.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 153,220 shares of the company’s stock after selling 28,835 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in MGP Ingredients were worth $11,780,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new stake in shares of MGP Ingredients during the 4th quarter valued at $272,000. AMI Asset Management Corp acquired a new stake in shares of MGP Ingredients during the 4th quarter valued at $5,918,000. California Public Employees Retirement System boosted its holdings in shares of MGP Ingredients by 5.7% during the 3rd quarter. California Public Employees Retirement System now owns 39,761 shares of the company’s stock valued at $2,411,000 after acquiring an additional 2,161 shares in the last quarter. Uniplan Investment Counsel Inc. boosted its holdings in shares of MGP Ingredients by 22.0% during the 3rd quarter. Uniplan Investment Counsel Inc. now owns 129,416 shares of the company’s stock valued at $7,846,000 after acquiring an additional 23,299 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in shares of MGP Ingredients by 74.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 5,706 shares of the company’s stock valued at $346,000 after acquiring an additional 2,442 shares in the last quarter. 99.94% of the stock is currently owned by institutional investors.

Several equities research analysts recently weighed in on MGPI shares. Zacks Investment Research raised MGP Ingredients from a “sell” rating to a “hold” rating in a report on Tuesday, October 10th. BidaskClub downgraded MGP Ingredients from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 9th. Craig Hallum reissued a “buy” rating and set a $105.00 price objective (up previously from $90.00) on shares of MGP Ingredients in a report on Monday, January 29th. Stifel Nicolaus started coverage on MGP Ingredients in a report on Tuesday, December 5th. They set a “hold” rating and a $73.00 price objective on the stock. Finally, Sidoti raised MGP Ingredients from a “neutral” rating to a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. MGP Ingredients presently has a consensus rating of “Buy” and an average target price of $81.00.

In other MGP Ingredients news, VP Stephen J. Glaser sold 5,800 shares of MGP Ingredients stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $74.92, for a total transaction of $434,536.00. Following the transaction, the vice president now directly owns 17,080 shares of the company’s stock, valued at approximately $1,279,633.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Daryl Schaller sold 20,000 shares of MGP Ingredients stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $72.58, for a total value of $1,451,600.00. Following the transaction, the director now directly owns 2,851 shares in the company, valued at $206,925.58. The disclosure for this sale can be found here. Insiders have sold a total of 45,800 shares of company stock worth $3,364,136 over the last ninety days. Company insiders own 23.50% of the company’s stock.

MGP Ingredients Inc (NASDAQ MGPI) opened at $82.28 on Friday. The company has a market capitalization of $1,444.18, a PE ratio of 49.91, a price-to-earnings-growth ratio of 2.54 and a beta of 1.01. MGP Ingredients Inc has a twelve month low of $42.04 and a twelve month high of $90.34. The company has a current ratio of 4.45, a quick ratio of 1.54 and a debt-to-equity ratio of 0.21.

MGP Ingredients (NASDAQ:MGPI) last announced its earnings results on Thursday, November 2nd. The company reported $0.82 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.45. The firm had revenue of $86.30 million for the quarter, compared to the consensus estimate of $83.57 million. MGP Ingredients had a return on equity of 18.70% and a net margin of 10.56%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 EPS. equities analysts anticipate that MGP Ingredients Inc will post 2.2 earnings per share for the current fiscal year.

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MGP Ingredients Company Profile

MGP Ingredients, Inc is a producer and supplier of distilled spirits, and specialty wheat protein and starch food ingredients. The Company’s distilled spirits include bourbon and rye whiskeys, and grain neutral spirits, including vodka and gin. The Company’s segments include distillery products and ingredient solutions.

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Institutional Ownership by Quarter for MGP Ingredients (NASDAQ:MGPI)

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