Jump Financial LLC Has $201,000 Stock Holdings in MGP Ingredients, Inc. $MGPI

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 lessened its holdings in shares of MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 99.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,844 shares of the company's stock after selling 4,043,412 shares during the period. Jump Financial LLC's holdings in MGP Ingredients were worth $201,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MGPI. Brooklyn Investment Group raised its holdings in shares of MGP Ingredients by 2,365.7% during the first quarter. Brooklyn Investment Group now owns 863 shares of the company's stock worth $25,000 after acquiring an additional 828 shares during the period. Penserra Capital Management LLC boosted its position in shares of MGP Ingredients by 333.3% during the first quarter. Penserra Capital Management LLC now owns 897 shares of the company's stock worth $26,000 after buying an additional 690 shares during the period. GAMMA Investing LLC boosted its position in shares of MGP Ingredients by 114.8% during the first quarter. GAMMA Investing LLC now owns 1,497 shares of the company's stock worth $44,000 after buying an additional 800 shares during the period. Point72 Asia Singapore Pte. Ltd. grew its holdings in shares of MGP Ingredients by 58.3% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 1,996 shares of the company's stock worth $79,000 after buying an additional 735 shares in the last quarter. Finally, CWM LLC raised its position in MGP Ingredients by 127.4% in the 1st quarter. CWM LLC now owns 2,051 shares of the company's stock valued at $60,000 after buying an additional 1,149 shares during the last quarter. Institutional investors own 77.11% of the company's stock.

MGP Ingredients Stock Up 1.7%

Shares of MGP Ingredients stock traded up $0.50 on Friday, reaching $29.19. 195,764 shares of the company were exchanged, compared to its average volume of 176,099. MGP Ingredients, Inc. has a one year low of $25.12 and a one year high of $90.05. The company has a market capitalization of $621.46 million, a price-to-earnings ratio of -94.16 and a beta of 0.35. The company has a current ratio of 2.91, a quick ratio of 0.79 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $29.93 and a 200 day moving average of $30.11.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last announced 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. MGP Ingredients had a positive return on equity of 10.66% and a negative net margin of 1.08%.The company had revenue of $145.49 million for the quarter, compared to analysts' expectations of $138.70 million. During the same quarter in the prior year, the business posted $1.71 EPS. 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. On average, equities research analysts forecast that MGP Ingredients, Inc. will post 5.56 earnings per share for the current year.

MGP Ingredients Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, August 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.6%. MGP Ingredients's dividend payout ratio is currently -154.84%.

Analyst Upgrades and Downgrades

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

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.