MGP Ingredients (NASDAQ:MGPI) Stock Passes Below Two Hundred Day Moving Average – What’s Next?

Shares of MGP Ingredients, Inc. (NASDAQ:MGPI) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $20.03 and traded as low as $17.73. MGP Ingredients shares last traded at $18.21, with a volume of 144,624 shares traded.

Analyst Ratings Changes

A number of research analysts have weighed in on MGPI shares. Zacks Research upgraded shares of MGP Ingredients from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Wells Fargo & Company lowered their price target on shares of MGP Ingredients from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, July 8th. TD Cowen dropped their price objective on MGP Ingredients from $20.00 to $18.00 and set a “hold” rating on the stock in a research note on Friday, June 26th. Finally, Weiss Ratings downgraded MGP Ingredients from a “sell (d)” rating to a “sell (d-)” rating in a research report on Monday, May 4th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, MGP Ingredients presently has a consensus rating of “Hold” and an average target price of $26.50.

MGP Ingredients Stock Performance

The company has a debt-to-equity ratio of 0.41, a current ratio of 2.74 and a quick ratio of 0.56. The firm has a market capitalization of $386.80 million, a PE ratio of -1.62 and a beta of 0.46. The company’s fifty day simple moving average is $17.16 and its 200 day simple moving average is $19.98.

MGP Ingredients (NASDAQ:MGPI) last posted its earnings results on Wednesday, April 29th. The company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.11. The firm had revenue of $106.43 million during the quarter, compared to the consensus estimate of $105.32 million. MGP Ingredients had a negative net margin of 45.70% and a positive return on equity of 7.48%. The company’s revenue was down 12.5% on a year-over-year basis. During the same quarter last year, the company earned $0.36 earnings per share. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. As a group, equities research analysts expect that MGP Ingredients, Inc. will post 1.6 EPS for the current fiscal year.

MGP Ingredients Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a dividend of $0.12 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.48 dividend on an annualized basis and a yield of 2.7%. MGP Ingredients’s payout ratio is presently -4.31%.

Insider Activity

In other news, major shareholder Caroline Lux Kaplan sold 30,000 shares of the firm’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $17.82, for a total value of $534,600.00. Following the completion of the transaction, the insider directly owned 500,958 shares of the company’s stock, valued at $8,927,071.56. This trade represents a 5.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 31.70% of the stock is currently owned by corporate insiders.

Institutional Trading of MGP Ingredients

A number of institutional investors have recently added to or reduced their stakes in the stock. Tieton Capital Management LLC purchased a new stake in shares of MGP Ingredients in the fourth quarter worth about $5,998,000. Pacer Advisors Inc. purchased a new position in MGP Ingredients during the fourth quarter valued at approximately $2,278,000. Peregrine Capital Management LLC purchased a new position in MGP Ingredients during the fourth quarter valued at approximately $3,606,000. Dana Investment Advisors Inc. bought a new stake in MGP Ingredients during the 4th quarter worth approximately $5,348,000. Finally, Unison Advisors LLC bought a new stake in MGP Ingredients during the 4th quarter worth approximately $719,000. Hedge funds and other institutional investors own 77.11% of the company’s stock.

MGP Ingredients Company Profile

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.