MGP Ingredients, Inc. $MGPI Shares Sold by Jump Financial LLC

Key Points

• Jump Financial LLC significantly reduced its stake in MGP Ingredients, Inc. by 99.8% during the first quarter, dropping to 6,844 shares valued at $201,000 after selling over 4 million shares.
• MGP Ingredients reported a quarterly earnings per share (EPS) of $0.97, exceeding analysts' expectations, despite a 23.7% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.12 per share, resulting in an annualized dividend yield of 1.7%, even though its dividend payout ratio stands at -154.84%.

Jump Financial LLC trimmed its holdings in shares of MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 99.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,844 shares of the company's stock after selling 4,043,412 shares during the quarter. Jump Financial LLC's holdings in MGP Ingredients were worth $201,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group increased its position in shares of 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 last quarter. Penserra Capital Management LLC increased its position in shares of MGP Ingredients by 333.3% during the 1st quarter. Penserra Capital Management LLC now owns 897 shares of the company's stock worth $26,000 after purchasing an additional 690 shares during the last quarter. GAMMA Investing LLC increased its position in shares of MGP Ingredients by 114.8% during the 1st quarter. GAMMA Investing LLC now owns 1,497 shares of the company's stock worth $44,000 after purchasing an additional 800 shares during the last quarter. CWM LLC increased its position in shares of MGP Ingredients by 127.4% during the 1st quarter. CWM LLC now owns 2,051 shares of the company's stock worth $60,000 after purchasing an additional 1,149 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of MGP Ingredients by 1,055.2% during the 1st quarter. Signaturefd LLC now owns 2,218 shares of the company's stock worth $65,000 after purchasing an additional 2,026 shares during the last quarter. 77.11% of the stock is owned by institutional investors and hedge funds.

MGP Ingredients Trading Down 2.7%

Shares of NASDAQ:MGPI traded down $0.78 during midday trading on Wednesday, reaching $27.61. 183,492 shares of the company's stock were exchanged, compared to its average volume of 172,291. The firm's 50 day simple moving average is $29.73 and its two-hundred day simple moving average is $30.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.91 and a quick ratio of 0.79. 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 fifty-two week low of $25.12 and a fifty-two week high of $86.60.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.64 by $0.33. The firm had revenue of $145.49 million during the quarter, compared to the consensus estimate of $138.70 million. MGP Ingredients had a positive return on equity of 10.66% and a negative net margin of 1.08%.The company's quarterly revenue was down 23.7% on a year-over-year basis. During the same period last year, the company earned $1.71 EPS. MGP Ingredients has set its FY 2025 guidance at 2.450-2.750 EPS. As a group, sell-side analysts forecast that MGP Ingredients, Inc. will post 5.56 EPS for the current fiscal year.

MGP Ingredients Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, August 15th. MGP Ingredients's payout ratio is currently -154.84%.

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.