Insider Selling: MGP Ingredients (NASDAQ:MGPI) Insider Sells $586,080.00 in Stock

MGP Ingredients, Inc. (NASDAQ:MGPI) insider Paul Lux sold 33,000 shares of the business’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $17.76, for a total transaction of $586,080.00. Following the completion of the sale, the insider directly owned 550,458 shares of the company’s stock, valued at $9,776,134.08. This represents a 5.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

MGP Ingredients Stock Down 2.6%

MGPI opened at $17.44 on Thursday. MGP Ingredients, Inc. has a 12 month low of $15.72 and a 12 month high of $29.92. The company has a current ratio of 6.99, a quick ratio of 1.65 and a debt-to-equity ratio of 0.61. The business’s 50-day moving average price is $17.46 and its 200-day moving average price is $18.71. The company has a market cap of $373.46 million, a P/E ratio of -1.55 and a beta of 0.47.

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

MGP Ingredients Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 28th. Stockholders of record on Friday, August 14th will be given a $0.12 dividend. The ex-dividend date of this dividend is Friday, August 14th. This represents a $0.48 annualized dividend and a dividend yield of 2.8%. MGP Ingredients’s dividend payout ratio is currently -4.26%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. TD Cowen upped their price objective on shares of MGP Ingredients from $18.00 to $20.00 and gave the stock a “hold” rating in a report on Thursday, July 30th. Weiss Ratings reissued a “sell (d-)” rating on shares of MGP Ingredients in a research report on Friday, July 31st. Finally, Wells Fargo & Company upped their price target on MGP Ingredients from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $27.25.

Institutional Investors Weigh In On MGP Ingredients

Several institutional investors and hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC bought a new position in MGP Ingredients in the 1st quarter valued at approximately $735,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in MGP Ingredients by 4.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,446 shares of the company’s stock valued at $248,000 after purchasing an additional 390 shares during the last quarter. Millennium Management LLC increased its holdings in shares of MGP Ingredients by 116.6% in the 1st quarter. Millennium Management LLC now owns 359,813 shares of the company’s stock worth $10,571,000 after purchasing an additional 193,660 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of MGP Ingredients by 10.0% in the first quarter. Goldman Sachs Group Inc. now owns 158,879 shares of the company’s stock worth $4,668,000 after purchasing an additional 14,501 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of MGP Ingredients by 9.4% in the second quarter. JPMorgan Chase & Co. now owns 157,579 shares of the company’s stock worth $4,723,000 after purchasing an additional 13,556 shares during the last quarter. Institutional investors own 77.11% of the company’s stock.

About MGP Ingredients

MGP Ingredients, Inc (NASDAQ: MGPI) is a leading producer of distilled spirits and specialty ingredient solutions for the food, beverage and consumer products industries. Headquartered in Atchison, Kansas, the company operates two main facilities—its historic Atchison plant, founded in 1941 as Midwest Grain Products, and a modern distillery in Lawrenceburg, Indiana. MGP Ingredients supplies an array of distillation products under its beverage and ingredient segments, serving brand owners, private-label producers and co-packers worldwide.

The beverage segment features a broad portfolio of premium spirits, including bourbon and rye whiskies, vodka, gin and neutral spirits.