Hatteras Funds buys $1,586,604 stake in MGP Ingredients Inc (MGPI)

MGP Ingredients Inc (MGPI) : Hatteras Funds scooped up 15,890 additional shares in MGP Ingredients Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 46,610 shares of MGP Ingredients Inc which is valued at $1,586,604.MGP Ingredients Inc makes up approximately 4.12% of Hatteras Funds’s portfolio.

Other Hedge Funds, Including , Pdt Partners sold out all of its stake in MGPI during the most recent quarter. The investment firm sold 9,700 shares of MGPI which is valued $330,188. Blackrock Group Ltd added MGPI to its portfolio by purchasing 3,594 company shares during the most recent quarter which is valued at $122,340. Chartwell Investment Partners added MGPI to its portfolio by purchasing 31,345 company shares during the most recent quarter which is valued at $1,074,820. MGP Ingredients Inc makes up approx 0.02% of Chartwell Investment Partners’s portfolio.Pembroke Management Ltd reduced its stake in MGPI by selling 25,200 shares or 4.27% in the most recent quarter. The Hedge Fund company now holds 565,465 shares of MGPI which is valued at $23,613,818. MGP Ingredients Inc makes up approx 2.21% of Pembroke Management Ltd’s portfolio.

MGP Ingredients Inc opened for trading at $39.92 and hit $40.5 on the upside on Thursday, eventually ending the session at $40.23, with a gain of 0.73% or 0.29 points. The heightened volatility saw the trading volume jump to 1,35,176 shares. Company has a market cap of $672 M.

Many Wall Street Analysts have commented on MGP Ingredients Inc. Craig Hallum Initiated MGP Ingredients Inc on May 25, 2016 to “Buy”, Price Target of the shares are set at $42.

MGP Ingredients Inc. is a holding company with no operations of its own. The Company’s principal directly-owned operating subsidiaries are MGPI Processing Inc. and MGPI of Indiana LLC (MGPI-I). The Company through its subsidiaries produces distillery and ingredient products which are derived from corn rye and barley and wheat flour primarily to serve the packaged goods industry. The Company had two segments: distillery products and ingredient solutions. The distillery products segment consists of food grade alcohol along with fuel grade alcohol distillers feed and corn oil which are co-products of its distillery operations. Ingredient solutions segment consist of specialty starches and proteins commodity starch and vital wheat gluten (commodity protein).

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