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MGP Ingredients, Inc. (MGPI) may enjoy gains as insiders got busy in the recent days

MGP Ingredients, Inc.’s filing revealed that its Vice President & CHRO Lapish Erika acquired Company’s shares for reported $38930.0 on Feb 26 ’24. In the deal valued at $77.86 per share,500 shares were bought. As a result of this transaction, Lapish Erika now holds 550 shares worth roughly $43142.0.

Then, Seaberg Karen sold 3,329 shares, generating $299,976 in total proceeds. Upon selling the shares at $90.11, the Director now owns 144,657 shares.

Before that, Mingus Lori L.S. sold 113 shares. MGP Ingredients, Inc. shares valued at $10,170 were divested by the Director at a price of $90.00 per share. As a result of the transaction, Mingus Lori L.S. now holds 49,717 shares, worth roughly $3.9 million.

Wedbush initiated its MGP Ingredients, Inc. [MGPI] rating to an Outperform in a research note published on October 11, 2022; the price target was $125. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who began to cover the stock in mid August with a ‘”an Overweight”‘ rating. ROTH Capital began covering MGPI with “Buy” recommendation on June 30, 2022. Lake Street started covering the stock on February 22, 2022. It rated MGPI as “a Buy”.

Price Performance Review of MGPI

On Tuesday, MGP Ingredients, Inc. [NASDAQ:MGPI] saw its stock fall -3.80% to $78.44. Over the last five days, the stock has lost -1.41%. MGP Ingredients, Inc. shares have fallen nearly -20.38% since the year began. Nevertheless, the stocks have fallen -20.51% over the past one year. While a 52-week high of $124.96 was reached on 01/02/24, a 52-week low of $75.78 was recorded on 02/22/24. SMA at 50 days reached $82.12, while 200 days put it at $96.35. A total of 0.32 million shares were traded, compared to the trading of 0.28 million shares in the previous session.

Levels Of Support And Resistance For MGPI Stock

The 24-hour chart illustrates a support level at 77.04, which if violated will result in even more drops to 75.64. On the upside, there is a resistance level at 80.60. A further resistance level may holdings at 82.75. The Relative Strength Index (RSI) on the 14-day chart is 43.58, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.09, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 67.85%. Stochastics %K at 65.96% indicates the stock is a holding.

The most recent change occurred on January 21, 2022 when Cowen began covering the stock and recommended ‘”an Outperform”‘ rating along with a $99 price target.

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