MGP Ingredients (NASDAQ:MGPI) Director Sells $4,389,742.80 in Stock

MGP Ingredients, Inc. (NASDAQ:MGPI) Director Karen Seaberg sold 181,095 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $24.24, for a total value of $4,389,742.80. Following the transaction, the director directly owned 37,417 shares in the company, valued at approximately $906,988.08. The trade was a 82.88% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 shares were sold at an average price of $25.84, for a total value of $2,108,957.44.
• On Monday, December 8th, Karen Seaberg sold 41,824 shares of MGP Ingredients stock. The stock was sold at an average price of $24.16, for a total value of $1,010,467.84.

MGP Ingredients Stock Performance

MGPI traded up $1.96 during trading on Wednesday, hitting $26.35. 869,928 shares of the stock were exchanged, compared to its average volume of 337,307. The firm has a market capitalization of $560.99 million, a P/E ratio of -39.33 and a beta of 0.39. MGP Ingredients, Inc. has a 1-year low of $21.67 and a 1-year high of $47.07. The stock has a fifty day moving average price of $24.22 and a two-hundred day moving average price of $27.46. The company has a quick ratio of 0.69, a current ratio of 2.78 and a debt-to-equity ratio of 0.31.

MGP Ingredients (NASDAQ:MGPI) last announced its earnings results on Wednesday, October 29th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.62 by $0.23. MGP Ingredients had a negative net margin of 2.56% and a positive return on equity of 9.65%. The business had revenue of $130.91 million for the quarter, compared to analyst estimates of $128.33 million. During the same period last year, the firm posted $1.29 earnings per share. The company’s revenue for the quarter was down 18.9% compared to the same quarter last year. MGP Ingredients has set its FY 2025 guidance at 2.600-2.750 EPS. As a group, sell-side analysts predict that MGP Ingredients, Inc. will post 5.56 earnings per share for the current year.

MGP Ingredients Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 28th. Stockholders of record on Friday, November 14th were paid a dividend of $0.12 per share. The ex-dividend date 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 -71.64%.

Hedge Funds Weigh In On MGP Ingredients

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in MGP Ingredients by 8.9% in the 3rd quarter. Vanguard Group Inc. now owns 1,222,672 shares of the company’s stock valued at $29,576,000 after purchasing an additional 99,995 shares in the last quarter. Federated Hermes Inc. grew its holdings in MGP Ingredients by 32.8% in the third quarter. Federated Hermes Inc. now owns 987,123 shares of the company’s stock valued at $23,879,000 after purchasing an additional 243,909 shares during the last quarter. Ariel Investments LLC grew its holdings in MGP Ingredients by 14.9% in the second quarter. Ariel Investments LLC now owns 719,144 shares of the company’s stock valued at $21,553,000 after purchasing an additional 93,086 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of MGP Ingredients by 13.3% in the second quarter. Ameriprise Financial Inc. now owns 400,896 shares of the company’s stock valued at $12,015,000 after buying an additional 46,978 shares in the last quarter. Finally, Millennium Management LLC raised its stake in shares of MGP Ingredients by 116.6% during the 1st quarter. Millennium Management LLC now owns 359,813 shares of the company’s stock worth $10,571,000 after buying an additional 193,660 shares during the last quarter. Institutional investors and hedge funds own 77.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on MGPI. TD Cowen reduced their price objective on MGP Ingredients from $30.00 to $27.00 and set a “hold” rating for the company in a research note on Thursday, October 30th. Weiss Ratings reissued a “sell (d)” rating on shares of MGP Ingredients in a report on Wednesday, October 8th. Finally, Wells Fargo & Company decreased their price target on MGP Ingredients from $38.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, MGP Ingredients currently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

About MGP Ingredients

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.