Key Points
- Director Karen Seaberg sold 304,535 shares of MGP Ingredients across Dec 8–10 for roughly $7.51 million total, including a 41,824-share sale on Dec 8 that reduced her holding by 51.2% in that filing.
- MGP beat quarterly EPS ($0.85 vs. $0.62) but revenue was down 18.9% YoY; the company issued FY2025 guidance of 2.60–2.75 EPS, the stock was up about 8%, and analysts’ average target is $40 (Moderate Buy).
MGP Ingredients, Inc. (NASDAQ:MGPI - Get Free Report) Director Karen Seaberg sold 41,824 shares of the company's stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $24.16, for a total transaction of $1,010,467.84. Following the sale, the director directly owned 39,868 shares in the company, valued at approximately $963,210.88. The trade was a 51.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Karen Seaberg also recently made the following trade(s):
- On Wednesday, December 10th, Karen Seaberg sold 81,616 shares of MGP Ingredients stock. The stock was sold at an average price of $25.84, for a total transaction of $2,108,957.44.
- On Tuesday, December 9th, Karen Seaberg sold 181,095 shares of MGP Ingredients stock. The stock was sold at an average price of $24.24, for a total value of $4,389,742.80.
MGP Ingredients Stock Up 8.0%
Shares of NASDAQ MGPI opened at $26.35 on Thursday. The stock has a market cap of $560.99 million, a P/E ratio of -39.33 and a beta of 0.39. The business's fifty day simple moving average is $24.22 and its 200-day simple moving average is $27.46. MGP Ingredients, Inc. has a 12-month low of $21.67 and a 12-month high of $47.07. The company has a current ratio of 2.78, a quick ratio of 0.69 and a debt-to-equity ratio of 0.31.
MGP Ingredients (NASDAQ:MGPI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.23. The company had revenue of $130.91 million for the quarter, compared to the consensus estimate of $128.33 million. MGP Ingredients had a positive return on equity of 9.65% and a negative net margin of 2.56%.MGP Ingredients's revenue was down 18.9% on a year-over-year basis. During the same quarter 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, equities analysts predict that MGP Ingredients, Inc. will post 5.56 EPS for the current fiscal year.
MGP Ingredients Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $0.48 annualized dividend and a yield of 1.8%. MGP Ingredients's dividend payout ratio (DPR) is -71.64%.
Analyst Upgrades and Downgrades
MGPI has been the subject of several analyst reports. TD Cowen lowered their price target on shares of MGP Ingredients from $30.00 to $27.00 and set a "hold" rating for the company in a report on Thursday, October 30th. Wells Fargo & Company decreased their price objective 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. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of MGP Ingredients in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $40.00.
View Our Latest Research Report on MGP Ingredients
Hedge Funds Weigh In On MGP Ingredients
Several large investors have recently bought and sold shares of the stock. Magnetar Financial LLC acquired a new stake in shares of MGP Ingredients during the second quarter worth about $584,000. Deutsche Bank AG grew its stake in MGP Ingredients by 1,564.2% during the 1st quarter. Deutsche Bank AG now owns 214,060 shares of the company's stock worth $6,289,000 after buying an additional 201,197 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in MGP Ingredients by 28.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 168,534 shares of the company's stock worth $4,952,000 after buying an additional 36,951 shares during the period. Rhumbline Advisers increased its position in MGP Ingredients by 24.9% during the first 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 period. Finally, XTX Topco Ltd purchased a new stake in MGP Ingredients in the second quarter valued at approximately $1,280,000. Institutional investors and hedge funds own 77.11% of the company's stock.
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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