MGP Ingredients (NASDAQ:MGPI) Stock Breaks Below 200-Day Moving Average – Here’s Why

Shares of MGP Ingredients, Inc. (NASDAQ:MGPI) crossed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $17.14 and traded as low as $13.53. MGP Ingredients shares last traded at $14.36, with a volume of 237,202 shares trading hands.

Analyst Ratings Changes

Several equities research analysts have commented on MGPI shares. Wells Fargo & Company dropped their price target on shares of MGP Ingredients from $22.00 to $17.00 and set an “overweight” rating on the stock in a research report on Monday, October 5th. Weiss Ratings restated a “sell (d-)” rating on shares of MGP Ingredients in a research report on Friday, July 31st. Finally, TD Cowen lifted their price objective on shares of MGP Ingredients from $18.00 to $20.00 and gave the stock a “hold” rating in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $26.00.

MGP Ingredients Price Performance

The company has a debt-to-equity ratio of 0.61, a current ratio of 6.99 and a quick ratio of 1.65. The firm has a market cap of $312.59 million, a price-to-earnings ratio of -1.30 and a beta of 0.49. The stock’s fifty day moving average price is $15.52 and its 200-day moving average price is $17.11.

MGP Ingredients (NASDAQ:MGPI) last issued its earnings results on Wednesday, July 29th. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.49 by $0.23. The business had revenue of $124.36 million during the quarter, compared to analysts’ expectations of $125.16 million. MGP Ingredients had a positive return on equity of 7.41% and a negative net margin of 48.08%. MGP Ingredients’s revenue was down 14.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.97 earnings per share. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. Equities research analysts predict that MGP Ingredients, Inc. will post 1.65 EPS for the current fiscal year.

MGP Ingredients Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 3.3%. The ex-dividend date was Friday, August 14th. MGP Ingredients’s dividend payout ratio is currently -4.26%.

Insider Buying and Selling

In other MGP Ingredients news, insider Leslie Lux sold 27,731 shares of MGP Ingredients stock in a transaction on Wednesday, September 16th. The shares were sold at an average price of $14.40, for a total transaction of $399,326.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul Lux sold 33,000 shares of the business’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $17.76, for a total transaction of $586,080.00. Following the transaction, the insider owned 550,458 shares in the company, valued at approximately $9,776,134.08. This represents a 5.66% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 31.70% of the stock is owned by corporate insiders.

Institutional Trading of MGP Ingredients

A number of institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in MGP Ingredients by 334.0% in the third quarter. GAMMA Investing LLC now owns 2,439 shares of the company’s stock valued at $32,000 after purchasing an additional 1,877 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of MGP Ingredients by 398.6% during the 3rd quarter. Versant Capital Management Inc now owns 6,901 shares of the company’s stock worth $91,000 after purchasing an additional 5,517 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of MGP Ingredients during the 2nd quarter worth about $111,000. Corient Private Wealth LP acquired a new stake in shares of MGP Ingredients during the 2nd quarter valued at about $270,000. Finally, Bank of America Corp DE acquired a new stake in shares of MGP Ingredients during the 2nd quarter valued at about $1,857,000. Institutional investors and hedge funds own 77.11% of the company’s stock.

MGP Ingredients Company Profile

MGP Ingredients, Inc (NASDAQ: MGPI) is a food and beverage company headquartered in Atchison, Kansas. The company develops and produces distilled spirits, specialty wheat proteins, and specialty starches for consumer brands, food manufacturers, and other commercial customers.

Through its branded spirits business, MGP offers a portfolio of bourbon, rye whiskey, American whiskey, vodka, gin, and other distilled products. Its brands include Lux Row Distillers’ Ezra Brooks, Daviess County, and Yellowstone Bourbon, as well as Remus Repeal Reserve.