The stock of MGP Ingredients Inc (NASDAQ:MGPI) reached all time high today, Nov, 22 and still has $50.51 target or 3.00% above today’s $49.04 share price. This indicates more upside for the $816.96M company. This technical setup was reported by Barchart.com. If the $50.51 PT is reached, the company will be worth $24.51 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 129,982 shares traded hands. MGP Ingredients Inc (NASDAQ:MGPI) has risen 80.56% since April 20, 2016 and is uptrending. It has outperformed by 76.00% the S&P500.
According to Zacks Investment Research, “MGP Ingredients, Inc. produces and markets ingredients and distillery products to the packaged goods industry. Its Distillery Products segment primarily offers food grade alcohol, fuel grade alcohol, and distillers feed. The company’s Ingredient Solutions segment primarily provides specialty wheat starches and proteins, commodity wheat starches, and commodity vital wheat gluten. MGP Ingredients, Inc. is headquartered in Atchison, Kansas.”
Insitutional Activity: The institutional sentiment decreased to 1.29 in 2016 Q2. Its down 0.60, from 1.89 in 2016Q1. The ratio dived, as 9 funds sold all MGP Ingredients Inc shares owned while 26 reduced positions. 32 funds bought stakes while 34 increased positions. They now own 8.17 million shares or 26.91% more from 6.44 million shares in 2016Q1.
Raymond James Fin Services holds 1.20M shares or 0.44% of its portfolio. The California-based Schwab Charles Investment Management has invested 0% in MGP Ingredients Inc (NASDAQ:MGPI). Tieton Capital Mgmt Limited Com reported 127,655 shares or 4.75% of all its holdings. Aqr Cap Limited Co holds 43,846 shares or 0% of its portfolio. Tower Cap Ltd Co (Trc) holds 40 shares or 0% of its portfolio. State Common Retirement Fund holds 0% or 9,800 shares in its portfolio. Credit Suisse Ag has 0% invested in the company for 18,823 shares. Northern Corp, a Illinois-based fund reported 144,084 shares. Croft last reported 14,000 shares in the company. Northpointe Capital Ltd Co reported 57,160 shares or 0.26% of all its holdings. Voya Invest Management Limited Liability Corporation holds 0% of its portfolio in MGP Ingredients Inc (NASDAQ:MGPI) for 7,208 shares. Allianz Asset Management Ag has 53,256 shares for 0% of their US portfolio. Columbia Prtnrs L L C Invest has 47,465 shares for 0.13% of their US portfolio. The New York-based Springbok Cap Mngmt Ltd Liability has invested 0.01% in MGP Ingredients Inc (NASDAQ:MGPI). Blackrock Advsr Lc owns 6,409 shares or 0% of their US portfolio.
Insider Transactions: Since June 28, 2016, the stock had 1 buying transaction, and 11 sales for $3.79 million net activity. The insider Seaberg Karen sold 855 shares worth $36,713. The insider DYKSTRA DAVID E sold 6,000 shares worth $240,360. Shares for $293,213 were sold by RINDOM DAVID E on Friday, September 16. 35,000 MGP Ingredients Inc (NASDAQ:MGPI) shares with value of $1.54M were sold by SCHALLER DARYL. Another trade for 5,187 shares valued at $207,895 was made by Glaser Stephen J on Tuesday, August 30. Griffin Augustus C. bought $115,260 worth of stock.
More notable recent MGP Ingredients Inc (NASDAQ:MGPI) news were published by: Marketwatch.com which released: “MGP Ingredients started at buy with $50 stock price target at SunTrust RH” on June 12, 2009, also Prnewswire.com with their article: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …” published on October 28, 2016, Valuewalk.com published: “Apis Capital Long Thesis: MGP Ingredients Inc (MGPI)” on June 09, 2016. More interesting news about MGP Ingredients Inc (NASDAQ:MGPI) were released by: Nasdaq.com and their article: “MGP Ingredients, Inc. (MGPI) Ex-Dividend Date Scheduled for November 09, 2016” published on November 08, 2016 as well as Bizjournals.com‘s news article titled: “MGP Ingredients seeks answers, braces for fallout after noxious gas release” with publication date: October 24, 2016.
MGPI Company Profile
MGP Ingredients, Inc., incorporated on October 18, 2011, is a holding company. The Company’s principal operating subsidiaries are MGPI Processing, Inc. and MGPI of Indiana, LLC (MGPI-I). The Firm produces and supplies distilled spirits, and wheat proteins and starches. The Company’s distilled spirits include bourbon and rye whiskeys, and grain neutral spirits, including vodka and gin. The Firm also produces industrial alcohol for use in both food and non-food applications. The Company’s distillery products are derived from corn and other grains, including rye, barley, wheat, barley malt and milo. The Firm operates through two divisions: distillery products and ingredient solutions. The Company’s distillery products segment consists of food grade alcohol and co-products of its distillery operations, including distillers feed, fuel grade alcohol and corn oil. The Company’s ingredient solutions segment consists of specialty wheat starches, specialty wheat proteins, commodity wheat starch and commodity wheat protein.
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