MGP Ingredients (NASDAQ:MGPI) Shares Down 4.9% – Here’s Why

by · The Cerbat Gem

MGP Ingredients, Inc. (NASDAQ:MGPI – Get Free Report) fell 4.9% during mid-day trading on Friday . The stock traded as low as $23.64 and last traded at $23.4720. 174,841 shares were traded during trading, a decline of 45% from the average session volume of 318,691 shares. The stock had previously closed at $24.67.

Analyst Ratings Changes

Several analysts have recently commented on MGPI shares. Wells Fargo & Company reduced their price target on MGP Ingredients from $38.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. TD Cowen cut their price objective on MGP Ingredients from $30.00 to $27.00 and set a “hold” rating for the company in a research report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of MGP Ingredients in a report on Wednesday, October 8th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.00.

Get Our Latest Stock Analysis on MGPI

MGP Ingredients Stock Performance

The company has a current ratio of 2.78, a quick ratio of 0.69 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $507.45 million, a PE ratio of -35.61 and a beta of 0.39. The stock’s 50 day moving average price is $24.38 and its two-hundred day moving average price is $27.29.

MGP Ingredients (NASDAQ:MGPI – Get Free Report) last announced its earnings results on Wednesday, October 29th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.23. The firm had revenue of $130.91 million for the quarter, compared to analysts’ expectations of $128.33 million. MGP Ingredients had a positive return on equity of 9.65% and a negative net margin of 2.56%.MGP Ingredients’s quarterly revenue was down 18.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.29 EPS. MGP Ingredients has set its FY 2025 guidance at 2.600-2.750 EPS. On average, equities analysts expect that MGP Ingredients, Inc. will post 5.56 earnings per share for the current year.

MGP Ingredients Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Friday, November 14th. MGP Ingredients’s dividend payout ratio (DPR) is currently -71.64%.

Insider Activity at MGP Ingredients

In related news, Director Karen Seaberg sold 181,095 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $24.24, for a total transaction of $4,389,742.80. Following the transaction, the director directly owned 37,417 shares in the company, valued at approximately $906,988.08. This represents a 82.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Caroline Lux Kaplan sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $23.85, for a total value of $715,500.00. Following the completion of the sale, the insider directly owned 560,958 shares in the company, valued at approximately $13,378,848.30. The trade was a 5.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 334,535 shares of company stock worth $8,224,668 in the last three months. Insiders own 34.40% of the company’s stock.

Hedge Funds Weigh In On MGP Ingredients

Large investors have recently bought and sold shares of the stock. Brooklyn Investment Group boosted its holdings in MGP Ingredients by 2,365.7% in the first quarter. Brooklyn Investment Group now owns 863 shares of the company’s stock valued at $25,000 after acquiring an additional 828 shares during the last quarter. Osaic Holdings Inc. raised its holdings in shares of MGP Ingredients by 130.3% in the 2nd quarter. Osaic Holdings Inc. now owns 935 shares of the company’s stock worth $28,000 after purchasing an additional 529 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of MGP Ingredients by 278.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,883 shares of the company’s stock valued at $56,000 after purchasing an additional 1,386 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of MGP Ingredients by 89.0% during the 2nd quarter. GAMMA Investing LLC now owns 2,829 shares of the company’s stock worth $85,000 after purchasing an additional 1,332 shares during the period. Finally, PNC Financial Services Group Inc. increased its position in MGP Ingredients by 56.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,000 shares of the company’s stock worth $88,000 after purchasing an additional 1,087 shares in the last quarter. Hedge funds and other institutional investors own 77.11% of the company’s stock.

MGP Ingredients Company Profile

(Get Free Report)

MGP Ingredients, Inc (NASDAQ: MGPI) is a leading producer of distilled spirits and specialty ingredient solutions for the food, beverage and consumer products industries. Headquartered in Atchison, Kansas, the company operates two main facilities—its historic Atchison plant, founded in 1941 as Midwest Grain Products, and a modern distillery in Lawrenceburg, Indiana. MGP Ingredients supplies an array of distillation products under its beverage and ingredient segments, serving brand owners, private-label producers and co-packers worldwide.

The beverage segment features a broad portfolio of premium spirits, including bourbon and rye whiskies, vodka, gin and neutral spirits.

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