Villanova Investment Management Co LLC Decreases Stake 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 decreased its position in shares of MGP Ingredients, Inc. (NASDAQ:MGPI - Free Report) by 60.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,884 shares of the company's stock after selling 28,812 shares during the period. MGP Ingredients accounts for approximately 1.6% of Villanova Investment Management Co LLC's portfolio, making the stock its 28th biggest holding. Villanova Investment Management Co LLC owned about 0.09% of MGP Ingredients worth $555,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in MGPI. Voloridge Investment Management LLC acquired a new position in MGP Ingredients during the fourth quarter worth approximately $12,932,000. Federated Hermes Inc. increased its position in MGP Ingredients by 576.4% during 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 during the period. Deutsche Bank AG increased its position in MGP Ingredients by 1,564.2% during the first quarter. Deutsche Bank AG now owns 214,060 shares of the company's stock worth $6,289,000 after buying an additional 201,197 shares during the period. Millennium Management LLC increased its position in MGP Ingredients by 116.6% during the first quarter. Millennium Management LLC now owns 359,813 shares of the company's stock worth $10,571,000 after buying an additional 193,660 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of MGP Ingredients by 3,700.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 64,600 shares of the company's stock valued at $1,898,000 after purchasing an additional 62,900 shares during the last quarter. Institutional investors and hedge funds own 77.11% of the company's stock.

MGP Ingredients Stock Performance

Shares of MGPI stock traded down $0.14 during midday trading on Tuesday, hitting $27.63. The company had a trading volume of 55,878 shares, compared to its average volume of 326,469. The company's 50 day simple moving average is $29.39 and its 200 day simple moving average is $29.91. MGP Ingredients, Inc. has a 52-week low of $25.12 and a 52-week high of $86.35. The stock has a market cap of $588.41 million, a price-to-earnings ratio of -89.08 and a beta of 0.35. 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 announced its earnings results on Thursday, July 31st. The company reported $0.97 earnings per share for the quarter, beating 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 company had revenue of $145.49 million for the quarter, compared to the consensus estimate of $138.70 million. During the same period last year, the business posted $1.71 EPS. The company's revenue was down 23.7% on a year-over-year basis. MGP Ingredients has set its FY 2025 guidance at 2.450-2.750 EPS. Research analysts anticipate that MGP Ingredients, Inc. will post 5.56 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Shareholders 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 (DPR) is -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.