Comerica Bank decreased its holdings in MGP Ingredients Inc (NASDAQ:MGPI) by 40.9% in the fourth quarter, Holdings Channel reports. The fund owned 13,045 shares of the company’s stock after selling 9,022 shares during the quarter. Comerica Bank’s holdings in MGP Ingredients were worth $1,054,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of MGP Ingredients in the 3rd quarter valued at about $128,000. Acadian Asset Management LLC bought a new position in shares of MGP Ingredients in the 4th quarter valued at about $272,000. Envestnet Asset Management Inc. lifted its holdings in shares of MGP Ingredients by 74.8% in 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 during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of MGP Ingredients by 18.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,552 shares of the company’s stock valued at $393,000 after acquiring an additional 1,027 shares during the last quarter. Finally, Voya Investment Management LLC lifted its holdings in shares of MGP Ingredients by 10.8% in the 2nd quarter. Voya Investment Management LLC now owns 6,639 shares of the company’s stock valued at $340,000 after acquiring an additional 649 shares during the last quarter. 96.63% of the stock is owned by hedge funds and other institutional investors.
Shares of MGP Ingredients Inc (NASDAQ MGPI) opened at $85.52 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.45 and a quick ratio of 1.54. The stock has a market cap of $1,449.20, a PE ratio of 50.09, a price-to-earnings-growth ratio of 2.65 and a beta of 1.01. MGP Ingredients Inc has a 12 month low of $43.10 and a 12 month high of $90.34.
A number of research analysts recently commented on MGPI shares. Zacks Investment Research downgraded shares of MGP Ingredients from a “hold” rating to a “sell” rating in a report on Wednesday, January 3rd. BidaskClub downgraded shares of MGP Ingredients from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 9th. Sidoti raised shares of MGP Ingredients from a “neutral” rating to a “buy” rating in a report on Wednesday, January 31st. Craig Hallum reaffirmed a “buy” rating and issued a $105.00 price target (up previously from $90.00) on shares of MGP Ingredients in a report on Monday, January 29th. Finally, SunTrust Banks reaffirmed a “buy” rating on shares of MGP Ingredients in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. MGP Ingredients currently has an average rating of “Buy” and an average price target of $81.00.
In other MGP Ingredients news, Director Karen Seaberg sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, December 12th. The shares were sold at an average price of $73.90, for a total value of $1,478,000.00. Following the completion of the sale, the director now owns 10,591 shares of the company’s stock, valued at $782,674.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Stephen J. Glaser sold 5,800 shares of the firm’s 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 completion of the sale, the vice president now directly owns 17,080 shares of the company’s stock, valued at approximately $1,279,633.60. The disclosure for this sale can be found here. 23.50% of the stock is owned by company insiders.
TRADEMARK VIOLATION NOTICE: This report was posted by Ticker Report and is owned by of Ticker Report. If you are reading this report on another publication, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The original version of this report can be viewed at https://www.tickerreport.com/banking-finance/3225134/comerica-bank-has-1-05-million-position-in-mgp-ingredients-inc-mgpi.html.
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.
Want to see what other hedge funds are holding MGPI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MGP Ingredients Inc (NASDAQ:MGPI).
Receive News & Ratings for MGP Ingredients Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MGP Ingredients and related companies with MarketBeat.com's FREE daily email newsletter.