MGP Ingredients (NASDAQ:MGPI) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

MGP Ingredients, Inc. (NASDAQ:MGPI)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $29.04 and traded as low as $23.46. MGP Ingredients shares last traded at $23.72, with a volume of 194,764 shares.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company decreased their price target 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. Weiss Ratings reiterated a “sell (d)” rating on shares of MGP Ingredients in a report on Wednesday, October 8th. 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. Based on data from MarketBeat.com, MGP Ingredients presently has an average rating of “Moderate Buy” and an average target price of $49.67.

MGP Ingredients Trading Down 0.9%

The firm has a market cap of $505.00 million, a price-to-earnings ratio of -76.52 and a beta of 0.37. The business’s 50 day moving average price is $27.20 and its 200-day moving average price is $29.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.79 and a current ratio of 2.91.

MGP Ingredients (NASDAQ:MGPI) last issued its earnings results on Thursday, July 31st. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.33. The business had revenue of $145.49 million for the quarter, compared to analyst estimates of $138.70 million. MGP Ingredients had a negative net margin of 1.08% and a positive return on equity of 10.66%. The company’s revenue for the quarter was down 23.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.71 EPS. MGP Ingredients has set its FY 2025 guidance at 2.450-2.750 EPS. Equities analysts expect that MGP Ingredients, Inc. will post 5.56 EPS for the current year.

MGP Ingredients Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Friday, August 15th. MGP Ingredients’s dividend payout ratio is -154.84%.

Institutional Investors Weigh In On MGP Ingredients

Institutional investors and hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group raised its stake in MGP Ingredients by 2,365.7% during the first quarter. Brooklyn Investment Group now owns 863 shares of the company’s stock worth $25,000 after acquiring an additional 828 shares during the period. Penserra Capital Management LLC raised its stake in MGP Ingredients by 333.3% during the first quarter. Penserra Capital Management LLC now owns 897 shares of the company’s stock worth $26,000 after acquiring an additional 690 shares during the period. Osaic Holdings Inc. raised its stake in MGP Ingredients by 130.3% during the second quarter. Osaic Holdings Inc. now owns 935 shares of the company’s stock worth $28,000 after acquiring an additional 529 shares during the period. GAMMA Investing LLC raised its stake in MGP Ingredients by 114.8% during the first quarter. GAMMA Investing LLC now owns 1,497 shares of the company’s stock worth $44,000 after acquiring an additional 800 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in MGP Ingredients by 278.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,883 shares of the company’s stock worth $56,000 after purchasing an additional 1,386 shares during the last quarter. Institutional investors and hedge funds 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.