Cubist Systematic Strategies LLC Lowers Holdings in MGP Ingredients, Inc. $MGPI

Key Points

• Cubist Systematic Strategies LLC reduced its stake in MGP Ingredients by 32.0%, owning approximately 0.58% of the company worth $3.63 million after selling 58,291 shares.
• Other institutional investors significantly increased their holdings, with Brooklyn Investment Group raising its stake by an astonishing 2,365.7% during the same period.
• Wall Street analysts downgraded MGP Ingredients from a "hold" to a "sell" rating, despite an average target price of $50.33 based on current ratings.

Cubist Systematic Strategies LLC lessened its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 32.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 123,671 shares of the company's stock after selling 58,291 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.58% of MGP Ingredients worth $3,633,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Aigen Investment Management LP boosted its holdings in shares of MGP Ingredients by 6.8% in the first quarter. Aigen Investment Management LP now owns 6,900 shares of the company's stock valued at $203,000 after acquiring an additional 440 shares during the period. Penserra Capital Management LLC increased its holdings in shares of MGP Ingredients by 333.3% in the 1st quarter. Penserra Capital Management LLC now owns 897 shares of the company's stock valued at $26,000 after acquiring an additional 690 shares during the period. Point72 Asia Singapore Pte. Ltd. raised its position in MGP Ingredients by 58.3% in the 4th quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,996 shares of the company's stock valued at $79,000 after purchasing an additional 735 shares during the last quarter. GAMMA Investing LLC raised its position in MGP Ingredients by 114.8% in the 1st quarter. GAMMA Investing LLC now owns 1,497 shares of the company's stock valued at $44,000 after purchasing an additional 800 shares during the last quarter. Finally, Brooklyn Investment Group boosted its stake in MGP Ingredients by 2,365.7% during the 1st quarter. Brooklyn Investment Group now owns 863 shares of the company's stock worth $25,000 after purchasing an additional 828 shares during the period. Institutional investors and hedge funds own 77.11% of the company's stock.

MGP Ingredients Stock Performance

MGP Ingredients stock traded down $0.78 during midday trading on Wednesday, hitting $27.61. 183,492 shares of the company's stock were exchanged, compared to its average volume of 172,291. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.79 and a current ratio of 2.91. The stock has a market cap of $587.82 million, a price-to-earnings ratio of -89.06 and a beta of 0.35. MGP Ingredients, Inc. has a 12-month low of $25.12 and a 12-month high of $86.60. The firm's 50 day simple moving average is $29.73 and its 200 day simple moving average is $30.04.

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

MGP Ingredients Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 15th. MGP Ingredients's dividend payout ratio (DPR) is presently -154.84%.

MGP Ingredients 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.