MGP Ingredients (NASDAQ:MGPI) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

by · The Markets Daily

MGP Ingredients, Inc. (NASDAQ:MGPI – Get Free Report)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $27.29 and traded as low as $24.41. MGP Ingredients shares last traded at $24.67, with a volume of 480,779 shares.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MGPI shares. Weiss Ratings reissued a “sell (d)” rating on shares of MGP Ingredients in a research report on Wednesday, October 8th. TD Cowen decreased their price objective on shares of 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, Wells Fargo & Company cut 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. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

Read Our Latest Stock Analysis on MGP Ingredients

MGP Ingredients Price Performance

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 $510.75 million, a price-to-earnings ratio of -35.81 and a beta of 0.39. The business’s 50-day simple moving average is $24.38 and its two-hundred day simple moving average is $27.25.

MGP Ingredients (NASDAQ:MGPI – Get Free Report) last issued its earnings results 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. MGP Ingredients had a positive return on equity of 9.65% and a negative net margin of 2.56%.The business had revenue of $130.91 million during the quarter, compared to analysts’ expectations of $128.33 million. During the same quarter in the prior year, the firm earned $1.29 EPS. The business’s revenue for the quarter was down 18.9% compared to the same quarter last year. MGP Ingredients has set its FY 2025 guidance at 2.600-2.750 EPS. Research analysts expect that MGP Ingredients, Inc. will post 5.56 earnings per share for the current year.

MGP Ingredients Dividend Announcement

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

Insider Activity

In related news, major shareholder Caroline Lux Kaplan sold 30,000 shares of MGP Ingredients stock in a transaction that occurred 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 transaction, the insider directly owned 560,958 shares of the company’s stock, valued at $13,378,848.30. The trade was a 5.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 owned 35,285 shares in the company, valued at $911,764.40. This trade represents a 69.82% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 334,535 shares of company stock valued at $8,224,668. Insiders own 34.40% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in MGP Ingredients by 8.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,222,672 shares of the company’s stock valued at $29,576,000 after buying an additional 99,995 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of MGP Ingredients by 32.8% in the third quarter. Federated Hermes Inc. now owns 987,123 shares of the company’s stock valued at $23,879,000 after purchasing an additional 243,909 shares during the last quarter. Ariel Investments LLC lifted its position in shares of MGP Ingredients by 14.9% during the second quarter. Ariel Investments LLC now owns 719,144 shares of the company’s stock valued at $21,553,000 after purchasing an additional 93,086 shares in the last quarter. Ameriprise Financial Inc. boosted its holdings in MGP Ingredients by 13.3% during the second quarter. Ameriprise Financial Inc. now owns 400,896 shares of the company’s stock worth $12,015,000 after purchasing an additional 46,978 shares during the last quarter. Finally, Millennium Management LLC grew its position in MGP Ingredients by 116.6% in the 1st quarter. Millennium Management LLC now owns 359,813 shares of the company’s stock worth $10,571,000 after purchasing an additional 193,660 shares in the last quarter. Institutional investors and hedge funds 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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