MGP Ingredients (NASDAQ:MGPI) Sets New 1-Year Low – Here’s Why

Shares of MGP Ingredients, Inc. (NASDAQ:MGPI) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $23.78 and last traded at $23.80, with a volume of 290092 shares trading hands. The stock had previously closed at $24.62.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MGPI. Wells Fargo & Company cut their target price on MGP Ingredients from $38.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Weiss Ratings reiterated a “sell (d)” rating on shares of MGP Ingredients in a research note on Saturday, September 27th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.67.

MGP Ingredients Trading Down 3.3%

The business’s 50 day moving average is $27.78 and its two-hundred day moving average is $29.25. The company has a quick ratio of 0.79, a current ratio of 2.91 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $506.77 million, a P/E ratio of -76.77 and a beta of 0.37.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.33. MGP Ingredients had a negative net margin of 1.08% and a positive return on equity of 10.66%. The business had revenue of $145.49 million for the quarter, compared to analysts’ expectations of $138.70 million. During the same period in the previous year, the business earned $1.71 earnings per share. The company’s revenue was down 23.7% on a year-over-year basis. MGP Ingredients has set its FY 2025 guidance at 2.450-2.750 EPS. Analysts expect that MGP Ingredients, Inc. will post 5.56 EPS for the current year.

MGP Ingredients Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were issued a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, August 15th. MGP Ingredients’s payout ratio is currently -154.84%.

Institutional Investors Weigh In On MGP Ingredients

Institutional investors have recently made changes to their positions in the company. Brooklyn Investment Group lifted its holdings in MGP Ingredients by 2,365.7% in the 1st quarter. Brooklyn Investment Group now owns 863 shares of the company’s stock worth $25,000 after purchasing an additional 828 shares during the last quarter. Penserra Capital Management LLC lifted its holdings in MGP Ingredients by 333.3% in the 1st quarter. Penserra Capital Management LLC now owns 897 shares of the company’s stock worth $26,000 after purchasing an additional 690 shares during the last quarter. Osaic Holdings Inc. lifted its holdings in 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 last quarter. GAMMA Investing LLC lifted its holdings in MGP Ingredients by 114.8% in the 1st quarter. GAMMA Investing LLC now owns 1,497 shares of the company’s stock worth $44,000 after purchasing an additional 800 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in MGP Ingredients by 278.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,883 shares of the company’s stock worth $56,000 after purchasing an additional 1,386 shares during the last quarter. 77.11% of the stock is currently owned by institutional investors and hedge funds.

MGP Ingredients Company Profile

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.