Revenue Update on MGP Ingredients Inc(NASDAQ:MGPI)

MGP Ingredients Inc(NASDAQ:MGPI) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 3, 2016. Earnings per share were $0.37.

In a different note, Craig-Hallum said it Initiates Coverage on MGP Ingredients Inc, according to a research note issued on May 25, 2016. The shares have been rated ‘Buy’ by the firm.

MGP Ingredients Inc (MGPI) made into the market gainers list on Fridays trading session with the shares advancing 0.12% or 0.04 points. Due to strong positive momentum, the stock ended at $34.04, which is also near the day’s high of $34.58. The stock began the session at $34.19 and the volume stood at 1,75,716 shares. The 52-week high of the shares is $44.25 and the 52 week low is $13.51. The company has a current market capitalization of $568 M and it has 1,66,97,823 shares in outstanding.

Several Insider Transactions has been reported to the SEC. On Mar 16, 2016, John P Bridendall (director) purchased 5,000 shares at $21.95 per share price.Also, On Dec 21, 2015, Augustus C. Griffin (CEO) purchased 3,000 shares at $24.14 per share price.On Dec 9, 2015, Stephen J Glaser (Vice President) sold 44 shares at $22.48 per share price, according to the Form-4 filing with the securities and exchange commission.

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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