MGP Ingredients, Inc. (NASDAQ:MGPI - Get Free Report)'s share price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $20.03 and traded as low as $17.73. MGP Ingredients shares last traded at $18.21, with a volume of 144,624 shares.
Analyst Upgrades and Downgrades
Several analysts have weighed in on MGPI shares. TD Cowen lowered their price target on MGP Ingredients from $20.00 to $18.00 and set a "hold" rating on the stock in a report on Friday, June 26th. Weiss Ratings lowered MGP Ingredients from a "sell (d)" rating to a "sell (d-)" rating in a report on Monday, May 4th. Zacks Research upgraded shares of MGP Ingredients from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 28th. Finally, Wells Fargo & Company lowered their target price on shares of MGP Ingredients from $24.00 to $21.00 and set an "overweight" rating on the stock in a research note on Wednesday, July 8th. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $26.50.
Get Our Latest Stock Report on MGP Ingredients
MGP Ingredients Stock Up 2.0%
The company has a current ratio of 2.74, a quick ratio of 0.56 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $389.15 million, a P/E ratio of -1.63 and a beta of 0.46. The company's fifty day simple moving average is $17.16 and its 200 day simple moving average is $20.03.
MGP Ingredients (NASDAQ:MGPI - Get Free Report) last announced its earnings results on Wednesday, April 29th. The company reported $0.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.11. MGP Ingredients had a negative net margin of 45.70% and a positive return on equity of 7.48%. The firm had revenue of $106.43 million for the quarter, compared to analyst estimates of $105.32 million. During the same quarter in the previous year, the firm posted $0.36 EPS. The company's revenue for the quarter was down 12.5% compared to the same quarter last year. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. Research analysts expect that MGP Ingredients, Inc. will post 1.6 EPS for the current year.
MGP Ingredients Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, May 29th. Shareholders of record on Friday, May 15th were issued a dividend of $0.12 per share. The ex-dividend date was Friday, May 15th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.6%. MGP Ingredients's dividend payout ratio is -4.31%.
Insider Activity
In other news, major shareholder Caroline Lux Kaplan sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $17.82, for a total value of $534,600.00. Following the completion of the transaction, the insider owned 500,958 shares in the company, valued at $8,927,071.56. This trade represents a 5.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 31.70% of the company's stock.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the stock. Tieton Capital Management LLC purchased a new position in MGP Ingredients in the 4th quarter worth about $5,998,000. Pacer Advisors Inc. purchased a new stake in shares of MGP Ingredients during the 4th quarter valued at about $2,278,000. Peregrine Capital Management LLC purchased a new stake in shares of MGP Ingredients during the 4th quarter valued at about $3,606,000. Dana Investment Advisors Inc. bought a new stake in shares of MGP Ingredients in the fourth quarter worth approximately $5,348,000. Finally, Unison Advisors LLC purchased a new position in shares of MGP Ingredients during the fourth quarter valued at approximately $719,000. Hedge funds and other institutional investors own 77.11% of the company's stock.
About MGP Ingredients
(
Get Free Report)
MGP Ingredients, Inc NASDAQ: MGPI is a leading producer of distilled spirits and specialty ingredient solutions for the food, beverage and consumer products industries. Headquartered in Atchison, Kansas, the company operates two main facilities—its historic Atchison plant, founded in 1941 as Midwest Grain Products, and a modern distillery in Lawrenceburg, Indiana. MGP Ingredients supplies an array of distillation products under its beverage and ingredient segments, serving brand owners, private-label producers and co-packers worldwide.
The beverage segment features a broad portfolio of premium spirits, including bourbon and rye whiskies, vodka, gin and neutral spirits.
See Also
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider MGP Ingredients, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and MGP Ingredients wasn't on the list.
While MGP Ingredients currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
