Stock Worth Watching: What’s Next for MGP Ingredients Inc After Making All Time High?

Stock Worth Watching: What's Next for MGP Ingredients Inc After Making All Time High?

The stock of MGP Ingredients Inc (NASDAQ:MGPI) reached all time high today, Nov, 16 and still has $62.23 target or 37.00% above today’s $45.42 share price. This indicates more upside for the $756.67 million company. This technical setup was reported by Barchart.com. If the $62.23 PT is reached, the company will be worth $279.97M 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 71,787 shares traded hands. MGP Ingredients Inc (NASDAQ:MGPI) has risen 71.66% since April 14, 2016 and is uptrending. It has outperformed by 66.97% 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 increased to 1.89 in Q2 2016. Its up 0.94, from 0.95 in 2016Q1. The ratio improved, 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.
Credit Suisse Ag has 18,823 shares for 0% of their US portfolio. Alliancebernstein Lp reported 15,300 shares or 0% of all its holdings. Advisors Asset Mngmt last reported 0.01% of its portfolio in the stock. Tompkins Corp holds 0% of its portfolio in MGP Ingredients Inc (NASDAQ:MGPI) for 50 shares. Springbok Ltd Liability last reported 0.01% of its portfolio in the stock. Columbia Prtn L L C Management has 47,465 shares for 0.13% of their US portfolio. Amer Group accumulated 7,221 shares or 0% of the stock. Panagora Asset Mngmt has 604 shares for 0% of their US portfolio. Citigroup last reported 2,162 shares in the company. Teacher Retirement Systems Of Texas last reported 1,637 shares in the company. The Missouri-based Century Companies has invested 0% in MGP Ingredients Inc (NASDAQ:MGPI). Northern holds 0% or 144,084 shares in its portfolio. Raymond James Financial Services Advsr has invested 0.44% of its portfolio in MGP Ingredients Inc (NASDAQ:MGPI). Guggenheim Ltd Liability Corp holds 0% of its portfolio in MGP Ingredients Inc (NASDAQ:MGPI) for 5,672 shares. Raymond James Tru Na accumulated 42,841 shares or 0.14% of the stock.

Insider Transactions: Since June 28, 2016, the stock had 1 buying transaction, and 9 selling transactions for $2.21 million net activity. Seaberg Karen sold $444,855 worth of stock. RINDOM DAVID E sold 5,000 shares worth $201,250. DYKSTRA DAVID E sold 6,000 shares worth $240,360. Glaser Stephen J sold 5,187 shares worth $207,895. Griffin Augustus C. had bought 3,000 shares worth $115,260 on Friday, September 9.

More notable recent MGP Ingredients Inc (NASDAQ:MGPI) news were published by: Prnewswire.com which released: “SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Announces Investigation …” on October 28, 2016, also Quotes.Wsj.com with their article: “News MGP Ingredients Inc.MGPI” published on February 11, 2011, 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: Bizjournals.com and their article: “Chemical spill at MGP Ingredients shuts down Atchison” published on October 21, 2016 as well as Nasdaq.com‘s news article titled: “MGP Ingredients, Inc. (MGPI) Ex-Dividend Date Scheduled for November 09, 2016” with publication date: November 08, 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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