Insider Selling: MGP Ingredients (NASDAQ:MGPI) Director Sells 41,824 Shares of Stock

MGP Ingredients, Inc. (NASDAQ:MGPI) Director Karen Seaberg sold 41,824 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $24.16, for a total value of $1,010,467.84. Following the sale, the director directly owned 39,868 shares in the company, valued at $963,210.88. This trade represents a 51.20% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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 value of $2,108,957.44.
• 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.

MGP Ingredients Price Performance

Shares of MGP Ingredients stock traded up $1.96 on Wednesday, reaching $26.35. The stock had a trading volume of 869,928 shares, compared to its average volume of 337,307. The business’s 50 day moving average is $24.22 and its two-hundred day moving average is $27.46. 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, Inc. has a 1 year low of $21.67 and a 1 year high of $47.07. The company has a market cap of $560.99 million, a P/E ratio of -39.33 and a beta of 0.39.

MGP Ingredients (NASDAQ:MGPI) last issued its quarterly earnings data on Wednesday, October 29th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.62 by $0.23. The company had revenue of $130.91 million during the quarter, compared to analysts’ expectations of $128.33 million. MGP Ingredients had a negative net margin of 2.56% and a positive return on equity of 9.65%. MGP Ingredients’s revenue for the quarter was down 18.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.29 earnings per share. MGP Ingredients has set its FY 2025 guidance at 2.600-2.750 EPS. As a group, research analysts anticipate 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, November 28th. Stockholders 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 dividend yield of 1.8%. MGP Ingredients’s dividend payout ratio is presently -71.64%.

Hedge Funds Weigh In On MGP Ingredients

A number of large investors have recently modified their holdings of MGPI. PNC Financial Services Group Inc. boosted its stake 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 valued at $88,000 after purchasing an additional 1,087 shares during the period. Blair William & Co. IL bought a new stake in MGP Ingredients during the 1st quarter valued at $332,000. Vanguard Group Inc. boosted its position in MGP Ingredients by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 1,145,485 shares of the company’s stock valued at $33,654,000 after buying an additional 19,316 shares during the period. Charles Schwab Investment Management Inc. boosted its position in MGP Ingredients by 28.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 168,534 shares of the company’s stock valued at $4,952,000 after buying an additional 36,951 shares during the period. Finally, Deutsche Bank AG grew its holdings in MGP Ingredients by 1,564.2% in the 1st quarter. Deutsche Bank AG now owns 214,060 shares of the company’s stock worth $6,289,000 after acquiring an additional 201,197 shares during the last quarter. 77.11% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. TD Cowen lowered their price objective on MGP Ingredients from $30.00 to $27.00 and set a “hold” rating on the stock in a research report on Thursday, October 30th. Weiss Ratings restated a “sell (d)” rating on shares of MGP Ingredients in a research note on Wednesday, October 8th. Finally, Wells Fargo & Company lowered their price target on MGP Ingredients from $38.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.00.

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.