On June 12, 2023, it was reported that &GSA Capital Partners LLP had recently purchased a new stake in MGP Ingredients, Inc. (NASDAQ:MGPI), according to their latest filing with the Securities and Exchange Commission. The investment firm had bought 2,532 shares of the company’s stock, which were valued at approximately $269,000 during the fourth quarter. This news comes amid other developments involving the company: Director Karen Seaberg recently sold off a substantial number of shares in a transaction that occurred on March 15th.
Seaberg’s sale amounted to 5,431 shares of MGP Ingredients business’s stock at an average price of $91.99, totaling to $499,597.69. Following this transaction, Seaberg now directly owns 2,273,098 shares valued at approximately $209,102,285.02. The SEC filing disclosed this information and can be accessed through a hyperlink for investors interested in learning more about this particular transaction or others involving MGP Ingredients.
Insiders have sold around 15,146 shares of company stock in the past three months alone amounting to roughly $1.4 million dollars worth of value. Furthermore—28.70% of the total stock is owned by corporate insiders.
On Monday June 12th however ,NASDAQ MGPI recorded an increase in trading as it traded up $1.12 reaching a new high for the year on Stock price on NASDAQ exchange by peaking at $102.48 which based on its outstanding performance over past three months are indicative of rising investor confidence . The Company has managed well throughout changing market conditions as shown through recent net gains .
MGP Ingredients’ financial statement points out significant growth with increased revenue from product sales due to demand along with challenges faced by them . The figures showed consistent profitability increase quarter after quarter while maintaining liquidity.
The company’s market cap of $2.25 billion, a price-to-earnings ratio of 21.99, and a P/E/G ratio of 2.16 coupled with its debt-equity ratio indicating healthy financial profile also attest to investors’ confidence in MGP Ingredients Inc.
All told, while the transaction done by Seaberg may give pause for thought, investors in MGP Ingredients can find reason for optimism as the firm has otherwise made steady progress in recent months driving the share value which was being traded at a year low of $89.01 to now almost surpassing its year-high of $125.74 .
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MGP Ingredients Inc.: Leading the Way in Food and Beverage Ingredient Solutions
MGP Ingredients Inc.: A Leader in Food and Beverage Ingredient Solutions
As of June 12, 2023, MGP Ingredients (NASDAQ:MGPI) has experienced seasoned investors both increasing and decreasing their stakes in the company. The BlackRock Inc. investment firm recently boosted its position by 13.4% during the third quarter. Placed at the helm for MGP Ingredient’s future success is their impressive leadership team made up of seasoned executives Christopher T. Griffin (President and CEO), Dave Rindom (Chief Financial Officer), and Mike Seaberg (Chief Operating Officer).
A top-notch executive team is not solely responsible for MGP’s financial success, which comes from manufacturing quality starches, proteins, and specialty ingredients within the food and beverage industry. Their strength in distribution should not come as a surprise with supply chain analysis conducted rigorously to optimize their growing portfolio of products such as Whiskey Cake Craft Mixers, CarboClear® Grain Neutral Spirits, Caloris™ ethanol production equipment-hassle-free ingredient solutions amid market turbulence.
In addition to their solid economic footing, MGP released impressive earnings data recently. On May 4th this year, they reported $1.39 earnings per share for the quarter compared to analysts’ consensus estimates of $1.10 by a landslide- all while having revenue exceeding projections ($201.01m) prior calculated by FactSet ($194.43m).
MGP also gives back to its shareholders proven through the issuance of the recent quarterly dividend on June 2nd; a yield of 0.47%, or $0.12 per share was issued to shareholders on record on May 19th last month.
Corporate insiders have showed support for MGPI from March 15th selling shares until now via stock sales valuing at over one million dollars sold totaling 5,431 shares by Director Karen Seaberg alone who retains stock valued at $209,102,285.02 according to Securities and Exchange Commission filings.
While StockNews.com issued a “hold” rating for the company recently, it should be mentioned that MGP is held by 78.64% of institutional investors and hedge funds. Whether its expertise in the production of high-quality protein or expertise in product distribution channels; their recipe for success continues to attract interested stakeholders in an industry ripe with competition. With their continued success highlighted throughout this article, it appears as though their appeal will only continue to grow over time.