Insider Selling: MGP Ingredients (NASDAQ:MGPI) Director Sells 81,616 Shares of Stock

by · The Cerbat Gem

MGP Ingredients, Inc. (NASDAQ:MGPI – Get Free Report) Director Karen Seaberg sold 81,616 shares of the business’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $25.84, for a total transaction of $2,108,957.44. Following the completion of the transaction, the director directly owned 35,285 shares of the company’s stock, valued at approximately $911,764.40. This represents a 69.82% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Karen Seaberg also recently made the following trade(s):

  • On Tuesday, December 9th, Karen Seaberg sold 181,095 shares of MGP Ingredients stock. The shares were sold at an average price of $24.24, for a total transaction of $4,389,742.80.
  • On Monday, December 8th, Karen Seaberg sold 41,824 shares of MGP Ingredients stock. The stock was sold at an average price of $24.16, for a total transaction of $1,010,467.84.

MGP Ingredients Price Performance

NASDAQ:MGPI traded up $1.96 during midday trading on Wednesday, hitting $26.35. The company had a trading volume of 869,928 shares, compared to its average volume of 337,307. The stock’s fifty day moving average price is $24.22 and its 200-day moving average price is $27.46. MGP Ingredients, Inc. has a 52-week low of $21.67 and a 52-week high of $47.07. The company has a quick ratio of 0.69, a current ratio of 2.78 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $560.99 million, a PE ratio of -39.33 and a beta of 0.39.

MGP Ingredients (NASDAQ:MGPI – Get Free Report) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.23. The firm had revenue of $130.91 million during 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%.The company’s revenue for the quarter was down 18.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 EPS. MGP Ingredients has set its FY 2025 guidance at 2.600-2.750 EPS. As a group, research analysts expect that MGP Ingredients, Inc. will post 5.56 earnings per share for the current year.

MGP Ingredients Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 28th. Shareholders of record on Friday, November 14th were paid a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.48 annualized dividend and a dividend yield of 1.8%. MGP Ingredients’s dividend payout ratio (DPR) is -71.64%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Magnetar Financial LLC purchased a new stake in MGP Ingredients in the second quarter worth about $584,000. Deutsche Bank AG lifted its holdings in shares of MGP Ingredients by 1,564.2% during the first quarter. Deutsche Bank AG now owns 214,060 shares of the company’s stock valued at $6,289,000 after purchasing an additional 201,197 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of MGP Ingredients by 28.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 168,534 shares of the company’s stock worth $4,952,000 after purchasing an additional 36,951 shares in the last quarter. Rhumbline Advisers grew its stake in shares of MGP Ingredients by 24.9% in the 1st quarter. Rhumbline Advisers now owns 51,780 shares of the company’s stock worth $1,521,000 after buying an additional 10,316 shares during the last quarter. Finally, XTX Topco Ltd bought a new position in MGP Ingredients during the 2nd quarter valued at approximately $1,280,000. Hedge funds and other institutional investors own 77.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MGP Ingredients in a research note on Wednesday, October 8th. TD Cowen decreased their target price on shares of MGP Ingredients from $30.00 to $27.00 and set a “hold” rating on the stock in a research report on Thursday, October 30th. Finally, Wells Fargo & Company cut their price target on shares of MGP Ingredients from $38.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Read Our Latest Analysis on MGPI

MGP Ingredients Company Profile

(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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