MGP Ingredients, Inc. (NASDAQ:MGPI) Sees Significant Growth in Short Interest

Key Points

• MGP Ingredients, Inc. saw a significant increase in short interest, with totals reaching 1,720,000 shares as of August 31, representing a 22.9% growth from the previous period.
• The company's institutional ownership is notable, with hedge funds owning approximately 77.11% of the stock, following substantial position increases by several firms during the first quarter.
• MGP Ingredients reported $0.97 earnings per share in its last quarterly earnings, surpassing analyst expectations, though its revenue declined by 23.7% year-over-year.

MGP Ingredients, Inc. (NASDAQ:MGPI - Get Free Report) saw a large growth in short interest during the month of August. As of August 31st, there was short interest totaling 1,720,000 shares, a growth of 22.9% from the August 15th total of 1,400,000 shares. Based on an average trading volume of 225,800 shares, the short-interest ratio is presently 7.6 days. Approximately 12.2% of the shares of the stock are sold short. Approximately 12.2% of the shares of the stock are sold short. Based on an average trading volume of 225,800 shares, the short-interest ratio is presently 7.6 days.

MGP Ingredients Price Performance

Shares of NASDAQ:MGPI traded down $0.32 on Monday, reaching $26.74. 249,817 shares of the company traded hands, compared to its average volume of 190,727. MGP Ingredients has a fifty-two week low of $25.12 and a fifty-two week high of $84.76. The company's 50 day moving average is $29.07 and its 200-day moving average is $29.75. The stock has a market capitalization of $569.29 million, a PE ratio of 6.46 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 quarterly earnings data on Thursday, July 31st. The company reported $0.97 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.33. The company had revenue of $145.49 million during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.71 EPS. MGP Ingredients has set its FY 2025 guidance at 2.450-2.750 EPS. As a group, analysts anticipate that MGP Ingredients will post 5.56 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders 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 1.8%. MGP Ingredients's dividend payout ratio is presently -154.84%.

Institutional Trading of MGP Ingredients

Hedge funds have recently modified their holdings of the business. Brooklyn Investment Group increased its stake in shares of MGP Ingredients by 2,365.7% in 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 last quarter. Penserra Capital Management LLC increased its stake in shares of MGP Ingredients by 333.3% in the first quarter. Penserra Capital Management LLC now owns 897 shares of the company's stock worth $26,000 after acquiring an additional 690 shares during the last quarter. Osaic Holdings Inc. increased its stake in shares of MGP Ingredients by 130.3% in the second quarter. Osaic Holdings Inc. now owns 935 shares of the company's stock worth $28,000 after acquiring an additional 529 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of MGP Ingredients by 114.8% in the first quarter. GAMMA Investing LLC now owns 1,497 shares of the company's stock worth $44,000 after acquiring an additional 800 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of MGP Ingredients by 278.9% in the second quarter. Tower Research Capital LLC TRC now owns 1,883 shares of the company's stock worth $56,000 after acquiring an additional 1,386 shares during the last quarter. Hedge funds and other institutional investors own 77.11% of the company's stock.

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.