MGP Ingredients (NASDAQ:MGPI) Director Sells $2,108,957.44 in Stock

MGP Ingredients, Inc. (NASDAQ:MGPI) Director Karen Seaberg sold 81,616 shares of the stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $25.84, for a total transaction of $2,108,957.44. Following the sale, the director owned 35,285 shares in the company, valued at approximately $911,764.40. The trade was a 69.82% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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 value 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 value of $1,010,467.84.

MGP Ingredients Stock Performance

NASDAQ:MGPI traded up $1.96 during mid-day trading on Wednesday, reaching $26.35. The company’s stock had a trading volume of 869,928 shares, compared to its average volume of 337,307. The company has a current ratio of 2.78, a quick ratio of 0.69 and a debt-to-equity ratio of 0.31. The stock has a market cap of $560.99 million, a P/E ratio of -39.33 and a beta of 0.39. The firm’s fifty day moving average price is $24.22 and its two-hundred day moving average price is $27.46. MGP Ingredients, Inc. has a 12-month low of $21.67 and a 12-month high of $47.07.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly 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. MGP Ingredients had a negative net margin of 2.56% and a positive return on equity of 9.65%. The firm had revenue of $130.91 million during the quarter, compared to analyst estimates of $128.33 million. During the same period in the previous year, the business posted $1.29 earnings per share. The business’s revenue for the quarter was down 18.9% on a year-over-year basis. MGP Ingredients has set its FY 2025 guidance at 2.600-2.750 EPS. On average, equities analysts forecast that MGP Ingredients, Inc. will post 5.56 EPS for the current fiscal year.

MGP Ingredients Announces Dividend

The company also recently declared 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. This represents a $0.48 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, November 14th. MGP Ingredients’s dividend payout ratio is presently -71.64%.

Wall Street Analysts Forecast Growth

MGPI has been the subject of several research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of MGP Ingredients in a report on Wednesday, October 8th. TD Cowen lowered their target price on MGP Ingredients from $30.00 to $27.00 and set a “hold” rating on the stock in a 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 research note 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 stock. According to MarketBeat, MGP Ingredients presently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

Institutional Trading of MGP Ingredients

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Brooklyn Investment Group boosted its stake 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 period. Osaic Holdings Inc. raised its position in shares of MGP Ingredients by 130.3% during the second quarter. Osaic Holdings Inc. now owns 935 shares of the company’s stock valued at $28,000 after buying an additional 529 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of MGP Ingredients by 278.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,883 shares of the company’s stock worth $56,000 after buying an additional 1,386 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of MGP Ingredients by 89.0% during the second quarter. GAMMA Investing LLC now owns 2,829 shares of the company’s stock worth $85,000 after acquiring an additional 1,332 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its position in shares of MGP Ingredients by 56.8% during the first quarter. PNC Financial Services Group Inc. now owns 3,000 shares of the company’s stock worth $88,000 after acquiring an additional 1,087 shares during the last quarter. Hedge funds and other institutional investors own 77.11% of the company’s stock.

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.