Graham Capital Management L.P. Has $767,000 Stock Position in MGP Ingredients, Inc. $MGPI

Key Points

• Graham Capital Management L.P. increased its stake in MGP Ingredients, Inc. by 69.3% in Q1, owning approximately 0.12% of the company, valued at $767,000.
• MGP Ingredients received a downgrade from "hold" to "sell" by Wall Street Zen, while analysts maintain a consensus rating of "Moderate Buy" with an average target price of $50.33.
• The company reported a 23.7% decline in revenue year-over-year, with Q2 earnings of $0.97 EPS exceeding estimates, despite a negative net margin of 1.08%.

Graham Capital Management L.P. increased its holdings in shares of MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 69.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,122 shares of the company's stock after buying an additional 10,694 shares during the quarter. Graham Capital Management L.P. owned 0.12% of MGP Ingredients worth $767,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Voloridge Investment Management LLC bought a new position in shares of MGP Ingredients during the 4th quarter valued at about $12,932,000. Federated Hermes Inc. increased its stake in MGP Ingredients by 576.4% during the 1st quarter. Federated Hermes Inc. now owns 262,329 shares of the company's stock worth $7,707,000 after purchasing an additional 223,548 shares in the last quarter. Deutsche Bank AG increased its stake in MGP Ingredients by 1,564.2% during the 1st quarter. Deutsche Bank AG now owns 214,060 shares of the company's stock worth $6,289,000 after purchasing an additional 201,197 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in MGP Ingredients during the 4th quarter worth approximately $7,164,000. Finally, Millennium Management LLC lifted its stake in MGP Ingredients by 383.8% in the fourth quarter. Millennium Management LLC now owns 166,153 shares of the company's stock valued at $6,541,000 after buying an additional 131,811 shares in the last quarter. 77.11% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of MGP Ingredients from a "hold" rating to a "sell" rating in a report on Saturday, May 10th. Four equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, MGP Ingredients currently has a consensus rating of "Moderate Buy" and a consensus target price of $50.33.

MGP Ingredients Stock Up 1.7%

Shares of NASDAQ:MGPI traded up $0.50 during mid-day trading on Friday, reaching $29.19. 195,764 shares of the stock were exchanged, compared to its average volume of 176,099. The stock's 50 day simple moving average is $29.93 and its 200-day simple moving average is $30.11. MGP Ingredients, Inc. has a one year low of $25.12 and a one year high of $90.05. The company has a market cap of $621.46 million, a P/E ratio of -94.16 and a beta of 0.35. The company has a quick ratio of 0.79, a current ratio of 2.91 and a debt-to-equity ratio of 0.35.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.64 by $0.33. MGP Ingredients had a positive return on equity of 10.66% and a negative net margin of 1.08%.The firm had revenue of $145.49 million for the quarter, compared to analysts' expectations of $138.70 million. During the same quarter in the previous year, the business posted $1.71 EPS. The business's quarterly 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. As a group, equities research analysts predict that MGP Ingredients, Inc. will post 5.56 EPS for the current year.

MGP Ingredients Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, August 15th. This represents a $0.48 annualized dividend and a yield of 1.6%. MGP Ingredients's dividend payout ratio 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.