PEAK6 LLC Purchases New Position in MGP Ingredients, Inc. $MGPI

Key Points

• PEAK6 LLC acquired a new stake in MGP Ingredients, purchasing 16,426 shares for approximately $483,000, bringing its total ownership to 0.08%.
• MGP Ingredients reported an EPS of $0.97 for the latest quarter, surpassing estimates, but experienced a 23.7% year-over-year decline in revenue.
• The company announced a quarterly dividend of $0.12 per share, representing a 1.6% yield, while indicating a payout ratio of -154.84%.

PEAK6 LLC acquired a new stake in MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 16,426 shares of the company's stock, valued at approximately $483,000. PEAK6 LLC owned approximately 0.08% of MGP Ingredients as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of MGP Ingredients by 1.7% in the first quarter. Vanguard Group Inc. now owns 1,145,485 shares of the company's stock worth $33,654,000 after buying an additional 19,316 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of MGP Ingredients by 6.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 914,854 shares of the company's stock worth $36,017,000 after buying an additional 57,714 shares in the last quarter. Ariel Investments LLC lifted its position in shares of MGP Ingredients by 17.6% in the fourth quarter. Ariel Investments LLC now owns 598,903 shares of the company's stock worth $23,579,000 after buying an additional 89,461 shares in the last quarter. Voloridge Investment Management LLC purchased a new stake in shares of MGP Ingredients in the fourth quarter worth about $12,932,000. Finally, Federated Hermes Inc. lifted its position in shares of MGP Ingredients by 576.4% in the first quarter. Federated Hermes Inc. now owns 262,329 shares of the company's stock worth $7,707,000 after buying an additional 223,548 shares in the last quarter. 77.11% of the stock is currently owned by hedge funds and other institutional investors.

MGP Ingredients Trading Up 1.3%

Shares of MGPI traded up $0.38 during mid-day trading on Friday, reaching $29.07. 70,077 shares of the company's stock traded hands, compared to its average volume of 332,498. The stock has a market cap of $618.90 million, a P/E ratio of -93.90 and a beta of 0.35. The stock's 50-day moving average is $29.95 and its two-hundred day moving average is $30.15. MGP Ingredients, Inc. has a 12 month low of $25.12 and a 12 month high of $90.05. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.91 and a quick ratio of 0.79.

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 analysts' consensus estimates of $0.64 by $0.33. The firm had revenue of $145.49 million for the quarter, compared to analysts' expectations 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 quarter in the prior year, the firm posted $1.71 earnings per share. MGP Ingredients has set its FY 2025 guidance at 2.450-2.750 EPS. Research analysts forecast that MGP Ingredients, Inc. will post 5.56 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a $0.12 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.7%. MGP Ingredients's payout ratio is presently -154.84%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded MGP Ingredients from a "hold" rating to a "sell" rating in a research report on Saturday, May 10th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus 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.