Aurora Investment Counsel Sells 18,973 Shares of MGP Ingredients, Inc. (NASDAQ:MGPI)

Aurora Investment Counsel reduced its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 65.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,809 shares of the company’s stock after selling 18,973 shares during the quarter. Aurora Investment Counsel’s holdings in MGP Ingredients were worth $386,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC increased its stake in shares of MGP Ingredients by 14.2% during the 3rd quarter. FMR LLC now owns 1,102,985 shares of the company’s stock worth $91,824,000 after purchasing an additional 137,292 shares during the last quarter. State Street Corp increased its position in MGP Ingredients by 22.4% during the third quarter. State Street Corp now owns 717,675 shares of the company’s stock worth $59,746,000 after buying an additional 131,542 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in MGP Ingredients by 67.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 495,622 shares of the company’s stock valued at $41,261,000 after buying an additional 199,550 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of MGP Ingredients in the fourth quarter valued at approximately $13,125,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of MGP Ingredients by 1,292.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 188,693 shares of the company’s stock worth $7,429,000 after acquiring an additional 175,142 shares during the period. Institutional investors and hedge funds own 77.11% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MGPI. Lake Street Capital raised MGP Ingredients from a “hold” rating to a “buy” rating and cut their price target for the company from $55.00 to $45.00 in a report on Thursday, February 27th. Roth Mkm decreased their price target on shares of MGP Ingredients from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Wells Fargo & Company lowered their price objective on MGP Ingredients from $58.00 to $44.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, StockNews.com lowered shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.00.

MGP Ingredients Price Performance

MGPI stock opened at $30.83 on Friday. The company’s 50-day moving average price is $34.43 and its two-hundred day moving average price is $52.82. The firm has a market cap of $655.75 million, a P/E ratio of 6.41 and a beta of 0.57. The company has a quick ratio of 1.94, a current ratio of 6.46 and a debt-to-equity ratio of 0.31. MGP Ingredients, Inc. has a 12 month low of $29.84 and a 12 month high of $92.52.

MGP Ingredients Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Friday, March 14th. MGP Ingredients’s dividend payout ratio is presently 31.79%.

Insider Activity at MGP Ingredients

In related news, Director Karen Seaberg sold 28,304 shares of MGP Ingredients stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $30.82, for a total transaction of $872,329.28. Following the sale, the director now directly owns 283,569 shares in the company, valued at $8,739,596.58. This trade represents a 9.08 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 36.20% of the stock is currently owned by insiders.

MGP Ingredients 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.