MGP Ingredients (NASDAQ:MGPI) Shares Cross Below Two Hundred Day Moving Average - Here's What Happened

Key Points

• MGP Ingredients shares fell below their 200-day moving average during trading, reaching a low of $23.46 and closing at $23.72.
• Analysts have mixed reviews on the stock, with Wells Fargo reducing its price target from $38.00 to $33.00 while maintaining an "overweight" rating, whereas Weiss Ratings reaffirmed a "sell (d)" rating.
• The company reported a quarterly EPS of $0.97, exceeding estimates, though revenue declined by 23.7% year-over-year, totaling $145.49 million.

MGP Ingredients, Inc. (NASDAQ:MGPI - Get Free Report) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $29.04 and traded as low as $23.46. MGP Ingredients shares last traded at $23.72, with a volume of 194,764 shares changing hands.

Analyst Ratings Changes

MGPI has been the topic of a number of analyst reports. Wells Fargo & Company lowered their price objective on MGP Ingredients from $38.00 to $33.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of MGP Ingredients in a report on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $49.67.

MGP Ingredients Stock Performance

The stock's 50-day moving average price is $27.20 and its 200-day moving average price is $29.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.79 and a current ratio of 2.91. The company has a market capitalization of $505.00 million, a price-to-earnings ratio of -76.52 and a beta of 0.37.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.97 earnings per share (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 firm had revenue of $145.49 million during the quarter, compared to the consensus estimate of $138.70 million. During the same period in the previous year, the firm posted $1.71 EPS. The company's quarterly revenue 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, equities research analysts expect that MGP Ingredients, Inc. will post 5.56 earnings per share for the current year.

MGP Ingredients Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, August 15th. MGP Ingredients's payout ratio is currently -154.84%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MGPI. Rhumbline Advisers grew its stake in shares of MGP Ingredients by 24.9% during the 1st quarter. Rhumbline Advisers now owns 51,780 shares of the company's stock valued at $1,521,000 after buying an additional 10,316 shares during the period. GAMMA Investing LLC grew its stake 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 valued at $44,000 after buying an additional 800 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of MGP Ingredients during the 1st quarter valued at $248,000. Janney Montgomery Scott LLC purchased a new stake in shares of MGP Ingredients during the 1st quarter valued at $779,000. Finally, Illumine Investment Management LLC grew its stake in shares of MGP Ingredients by 168.6% during the 1st quarter. Illumine Investment Management LLC now owns 17,942 shares of the company's stock valued at $527,000 after buying an additional 11,263 shares during the period. 77.11% of the stock is currently owned by institutional investors and hedge funds.

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.

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