MGP Ingredients' (MGPI) Sell (D) Rating Reiterated at Weiss Ratings

Key Points

• Weiss Ratings has reiterated a "sell (d)" rating for MGP Ingredients (MGPI), indicating continued concerns for the stock's performance.
• Wells Fargo & Company has adjusted its price target for MGPI shares from $38.00 to $33.00, maintaining an "overweight" rating.
• Despite a recent earnings report showing a positive earnings per share of $0.97, MGP Ingredients experienced a 23.7% year-over-year decline in revenue for the same quarter.

MGP Ingredients (NASDAQ:MGPI - Get Free Report)'s stock had its "sell (d)" rating reaffirmed by Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

Separately, Wells Fargo & Company cut their price objective on shares of MGP Ingredients from $38.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $49.67.

MGP Ingredients Stock Up 1.3%

NASDAQ MGPI opened at $24.24 on Wednesday. MGP Ingredients has a 52 week low of $23.57 and a 52 week high of $81.67. The company has a quick ratio of 0.79, a current ratio of 2.91 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $516.07 million, a P/E ratio of -78.19 and a beta of 0.37. The stock's 50-day moving average price is $27.55 and its 200-day moving average price is $29.18.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.97 earnings per share 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 firm had revenue of $145.49 million during the quarter, compared to analyst estimates of $138.70 million. During the same quarter in the prior year, the business earned $1.71 earnings per share. MGP Ingredients's revenue for the quarter was down 23.7% on a year-over-year basis. MGP Ingredients has set its FY 2025 guidance at 2.450-2.750 EPS. On average, equities research analysts predict that MGP Ingredients will post 5.56 earnings per share for the current year.

Institutional Trading of MGP Ingredients

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Brooklyn Investment Group grew 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 in the last quarter. Penserra Capital Management LLC lifted its position in shares of MGP Ingredients by 333.3% during the 1st quarter. Penserra Capital Management LLC now owns 897 shares of the company's stock worth $26,000 after purchasing an additional 690 shares during the last quarter. Osaic Holdings Inc. boosted its position in shares of MGP Ingredients by 130.3% during the 2nd quarter. Osaic Holdings Inc. now owns 935 shares of the company's stock worth $28,000 after acquiring an additional 529 shares in the last quarter. GAMMA Investing LLC raised its position in shares of MGP Ingredients by 114.8% during the 1st quarter. GAMMA Investing LLC now owns 1,497 shares of the company's stock worth $44,000 after acquiring an additional 800 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in MGP Ingredients by 278.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,883 shares of the company's stock worth $56,000 after buying an additional 1,386 shares during the last quarter. 77.11% of the stock is currently owned by hedge funds and other institutional investors.

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.

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