MGP Ingredients (NASDAQ:MGPI) Stock Price Down 6.4% – Time to Sell?

by · The Cerbat Gem

MGP Ingredients, Inc. (NASDAQ:MGPI – Get Free Report) traded down 6.4% on Monday . The company traded as low as $24.21 and last traded at $24.03. 250,310 shares were traded during trading, a decline of 19% from the average session volume of 310,588 shares. The stock had previously closed at $25.68.

Wall Street Analysts Forecast Growth

MGPI has been the subject of a number of analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of MGP Ingredients in a report on Wednesday, October 8th. TD Cowen decreased their price objective on MGP Ingredients from $30.00 to $27.00 and set a “hold” rating for the company in a research note on Thursday, October 30th. Finally, Wells Fargo & Company dropped their price objective on MGP Ingredients from $38.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $40.00.

View Our Latest Analysis on MGPI

MGP Ingredients Trading Up 8.0%

The company has a debt-to-equity ratio of 0.31, a current ratio of 2.78 and a quick ratio of 0.69. The stock has a market cap of $560.99 million, a price-to-earnings ratio of -39.33 and a beta of 0.39. The company’s fifty day moving average price is $24.22 and its 200-day moving average price is $27.46.

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

MGP Ingredients Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.8%. MGP Ingredients’s payout ratio is -71.64%.

Insiders Place Their Bets

In related news, major shareholder Caroline Lux Kaplan sold 30,000 shares of the firm’s stock in a transaction on 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 transaction, the insider owned 560,958 shares in the company, valued at $13,378,848.30. This trade represents a 5.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Karen Seaberg sold 181,095 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $24.24, for a total value of $4,389,742.80. Following the sale, the director owned 37,417 shares in the company, valued at approximately $906,988.08. The trade was a 82.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 334,535 shares of company stock valued at $8,224,668 in the last 90 days. 34.40% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On MGP Ingredients

Institutional investors have recently bought and sold shares of the business. PNC Financial Services Group Inc. boosted its holdings in shares of MGP Ingredients by 56.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,000 shares of the company’s stock valued at $88,000 after acquiring an additional 1,087 shares during the last quarter. Blair William & Co. IL acquired a new position in shares of MGP Ingredients in the 1st quarter valued at about $332,000. Vanguard Group Inc. grew its holdings in MGP Ingredients by 1.7% during the first quarter. Vanguard Group Inc. now owns 1,145,485 shares of the company’s stock worth $33,654,000 after acquiring an additional 19,316 shares during the period. Charles Schwab Investment Management Inc. raised its position in MGP Ingredients by 28.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 168,534 shares of the company’s stock valued at $4,952,000 after acquiring an additional 36,951 shares in the last quarter. Finally, Deutsche Bank AG lifted its holdings in MGP Ingredients by 1,564.2% in the first quarter. Deutsche Bank AG now owns 214,060 shares of the company’s stock valued at $6,289,000 after acquiring an additional 201,197 shares during the period. 77.11% of the stock is owned by hedge funds and other institutional investors.

About MGP Ingredients

(Get Free Report)

MGP Ingredients, Inc, together with its subsidiaries, engages in the production and supply of distilled spirits, branded spirits, and food ingredients in the United States and internationally. The company operates through three segments: Distillery Solutions; Branded Spirits; and Ingredient Solutions.

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