AdvisorShares Investments LLC Sells 142 Shares of MGP Ingredients, Inc. (NASDAQ:MGPI)

AdvisorShares Investments LLC cut its holdings in MGP Ingredients, Inc. (NASDAQ:MGPI) by 3.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,465 shares of the company’s stock after selling 142 shares during the quarter. AdvisorShares Investments LLC’s holdings in MGP Ingredients were worth $253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. CWM LLC lifted its holdings in MGP Ingredients by 477.9% in the 2nd quarter. CWM LLC now owns 393 shares of the company’s stock worth $29,000 after buying an additional 325 shares during the period. LRI Investments LLC bought a new position in shares of MGP Ingredients during the first quarter valued at approximately $43,000. Innealta Capital LLC purchased a new stake in MGP Ingredients in the second quarter worth $42,000. Quest Partners LLC bought a new stake in MGP Ingredients in the fourth quarter valued at $72,000. Finally, Covestor Ltd boosted its holdings in MGP Ingredients by 23.3% in the first quarter. Covestor Ltd now owns 795 shares of the company’s stock valued at $68,000 after acquiring an additional 150 shares in the last quarter. 77.11% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on MGPI shares. Roth Mkm restated a “buy” rating and issued a $92.00 price objective on shares of MGP Ingredients in a report on Thursday, July 25th. StockNews.com raised shares of MGP Ingredients from a “sell” rating to a “hold” rating in a research note on Monday, August 5th.

MGP Ingredients Trading Up 2.3 %

MGPI opened at $81.80 on Thursday. The company has a quick ratio of 2.22, a current ratio of 6.44 and a debt-to-equity ratio of 0.34. MGP Ingredients, Inc. has a 52 week low of $68.86 and a 52 week high of $111.20. The stock has a market cap of $1.80 billion, a PE ratio of 18.89, a PEG ratio of 1.30 and a beta of 0.59. The business has a 50 day moving average of $82.98 and a 200-day moving average of $80.56.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $1.71 EPS for the quarter, beating the consensus estimate of $1.54 by $0.17. MGP Ingredients had a return on equity of 14.98% and a net margin of 12.18%. The business had revenue of $190.80 million during the quarter, compared to analyst estimates of $189.06 million. During the same quarter last year, the firm posted $1.49 earnings per share. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. Equities research analysts predict that MGP Ingredients, Inc. will post 6.25 earnings per share for the current fiscal year.

MGP Ingredients Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 30th. Investors of record on Friday, August 16th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.59%. The ex-dividend date was Friday, August 16th. MGP Ingredients’s payout ratio is currently 11.09%.

Insiders Place Their Bets

In related news, Director Karen Seaberg sold 1,109 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $90.14, for a total transaction of $99,965.26. Following the completion of the transaction, the director now owns 134,969 shares of the company’s stock, valued at approximately $12,166,105.66. The transaction was disclosed in a filing with the SEC, which can be accessed 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.