Insiders Seeing Green With MGPI At New 52-Week High

In trading on Thursday, shares of MGP Ingredients Inc (MGPI) touched a new 52-week high of $58.99/share. That's a 84.75% rise, or $27.06 per share from the 52-week low of $31.93 set back on 10/21/2016. That means at today's intraday high, any investor who purchased MGPI stock any time over the past 52 weeks has an unrealized gain, including company insiders.

Over the past six months, insiders have been scooping up shares, and those bets are now paying off handsomely. As summarized by the table below, MGPI has seen 2 different instances of insiders buying over the trailing six month period.

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Ten Bargains You Can Buy Cheaper Than The Insiders Did »

Purchased Insider Title Shares Price/Share Value
03/13/2017 Stephen J. Glaser Vice President 281 $49.61 $13,940.41
06/14/2017 Stephen J. Glaser Vice President 300 $50.11 $15,033.00
05/30/2017 Michael Rodger Buttshaw Vice President 484 $53.78 $26,029.52

The chart below shows where MGPI has traded over the past year, with the 50-day and 200-day moving averages included.

MGP Ingredients Inc  Moving Averages Chart

In afternoon trading on Thursday, MGPI shares are changing hands at $57.59/share, slightly below the new 52-week high.

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