Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. MGP Ingredients, Inc. shares valued at $1,475,264 were sold by Seaberg Karen on May 23 ’24. At $76.44 per share, Seaberg Karen sold 19,300 shares. The insider’s holdings dropped to 54,762 shares worth approximately $3.97 million following the completion of this transaction.
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Also, Mingus Lori L.S. sold 2,430 shares, netting a total of over 191,678 in proceeds. Following the sale of shares at $78.88 each, the insider now holds 47,287 shares.
Before that, Lux Donn S. had sold 15,000 shares from its account. In a trade valued at $1,213,706, the Director traded MGP Ingredients, Inc. shares for $80.91 each. Upon closing the transaction, the insider’s holdings decreased to 15,000 shares, worth approximately $191.04 million.
As published in their initiating research note from Wedbush on October 11, 2022, MGP Ingredients, Inc. [MGPI] has been an Outperform and the price target has been revised to $125. Analysts at Wells Fargo started covering the stock with ‘”an Overweight”‘ outlook in a report released in mid August. As of June 30, 2022, ROTH Capital has initiated its “Buy” rating for MGPI. Earlier on February 22, 2022, Lake Street initiated its rating. Their recommendation was “a Buy” for MGPI stock.
Analyzing MGPI Stock Performance
During the last five days, there has been a drop of approximately -0.73%. Over the course of the year, MGP Ingredients, Inc. shares have dropped approximately -26.50%. Shares of the company reached a 52-week high of $101.69 on 01/02/24 and a 52-week low of $70.82 on 06/10/24. A 50-day SMA is recorded $76.98, while a 200-day SMA reached $87.56. Nevertheless, trading volume fell to 74852.0 shares from 0.12 million shares the previous day.
Support And Resistance Levels for MGP Ingredients, Inc. (MGPI)
According to the 24-hour chart, there is a support level at 71.81, which, if violated, would cause prices to drop to 71.20. In the upper region, resistance lies at 73.51. The next price resistance is at 74.60. RSI (Relative Strength Index) is 39.73 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.75, which suggests the price will decrease in the coming days. Percent R is at 76.99%, indicating bearish price movement. Stochastics%K at holding indicates that the stock is to be held.
