PEAK6 LLC Invests $483,000 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 shares of MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) during the 1st quarter, according to its most recent disclosure with the 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 filing with the SEC.

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

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered 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 given a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $50.33.

MGP Ingredients Stock Down 1.9%

MGP Ingredients stock traded down $0.55 during mid-day trading on Thursday, hitting $28.64. The company had a trading volume of 66,927 shares, compared to its average volume of 333,536. 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 stock's 50 day moving average price is $29.97 and its two-hundred day moving average price is $30.18. MGP Ingredients, Inc. has a 12 month low of $25.12 and a 12 month high of $90.05. The company has a market capitalization of $609.75 million, a PE ratio of -92.40 and a beta 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, topping 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 business had revenue of $145.49 million for the quarter, compared to the consensus estimate of $138.70 million. During the same period in the previous year, the company posted $1.71 earnings per share. The company's revenue for the quarter 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, sell-side analysts anticipate that MGP Ingredients, Inc. will post 5.56 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

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

MGP Ingredients Company 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.