Villanova Investment Management Co LLC Decreases Holdings in MGP Ingredients, Inc. $MGPI

Key Points

• Villanova Investment Management Co LLC reduced its stake in MGP Ingredients by 60.4% in Q1, now holding 18,884 shares worth $555,000, making it the 28th largest position in its portfolio.
• Other hedge funds saw significant increases in their holdings, with Brooklyn Investment Group boosting its position by 2,365.7% during the same period.
• MGP Ingredients reported earnings of $0.97 per share for Q2, surpassing estimates by $0.33, although its revenue fell 23.7% year-over-year.

Villanova Investment Management Co LLC trimmed its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 60.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,884 shares of the company's stock after selling 28,812 shares during the period. MGP Ingredients comprises 1.6% of Villanova Investment Management Co LLC's holdings, making the stock its 28th biggest holding. Villanova Investment Management Co LLC owned approximately 0.09% of MGP Ingredients worth $555,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in MGP Ingredients by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 1,145,485 shares of the company's stock worth $33,654,000 after acquiring an additional 19,316 shares in the last quarter. Ariel Investments LLC grew its stake in MGP Ingredients by 4.5% in the 1st quarter. Ariel Investments LLC now owns 626,058 shares of the company's stock worth $18,394,000 after acquiring an additional 27,155 shares in the last quarter. Millennium Management LLC grew its stake in MGP Ingredients by 116.6% in the 1st quarter. Millennium Management LLC now owns 359,813 shares of the company's stock worth $10,571,000 after acquiring an additional 193,660 shares in the last quarter. Voloridge Investment Management LLC bought a new position in MGP Ingredients in the 4th quarter worth about $12,932,000. Finally, Federated Hermes Inc. grew its stake in MGP Ingredients by 576.4% in the 1st quarter. Federated Hermes Inc. now owns 262,329 shares of the company's stock worth $7,707,000 after acquiring an additional 223,548 shares in the last quarter. 77.11% of the stock is currently owned by institutional investors.

MGP Ingredients Trading Down 1.3%

MGPI stock traded down $0.37 during mid-day trading on Friday, reaching $27.97. The company had a trading volume of 139,271 shares, compared to its average volume of 175,191. 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 company has a market capitalization of $595.57 million, a PE ratio of -90.23 and a beta of 0.35. The firm has a 50 day moving average of $29.46 and a 200 day moving average of $29.96. MGP Ingredients, Inc. has a 12 month low of $25.12 and a 12 month high of $86.60.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.64 by $0.33. MGP Ingredients had a negative net margin of 1.08% and a positive return on equity of 10.66%. 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 prior year, the firm earned $1.71 EPS. 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. On average, equities analysts predict that MGP Ingredients, Inc. will post 5.56 earnings per share for the current fiscal year.

MGP Ingredients Dividend Announcement

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