MGP Ingredients (NASDAQ:MGPI) Share Price Crosses Below 200-Day Moving Average - What's Next?

Key Points

• MGP Ingredients shares fell below their 200-day moving average, reaching $14.77 before last trading at $15.13, compared with the 200-day average of $17.00.
• Analyst sentiment is mixed, with an overall “Hold” rating and an average price target of $25.50; recent targets range from $17 to $30.
• Quarterly EPS of $0.72 exceeded expectations, but revenue declined 14.5% year over year to $124.36 million, while the company maintained a quarterly dividend of $0.12 per share.

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 $17.00 and traded as low as $14.77. MGP Ingredients shares last traded at $15.13, with a volume of 229,235 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on MGPI shares. Wells Fargo & Company decreased their price target on MGP Ingredients from $22.00 to $17.00 and set an "overweight" rating on the stock in a research report on Monday, October 5th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of MGP Ingredients in a report on Friday, July 31st. Roth Capital cut their price objective on MGP Ingredients from $32.00 to $30.00 and set a "buy" rating for the company in a research report on Friday. Finally, TD Cowen lifted their price objective on MGP Ingredients from $18.00 to $20.00 and gave the company a "hold" rating in a research report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $25.50.

MGP Ingredients Trading Up 0.7%

The company's 50-day moving average is $15.26 and its 200-day moving average is $17.00. The firm has a market cap of $323.99 million, a price-to-earnings ratio of -1.34 and a beta of 0.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.65 and a current ratio of 6.99.

MGP Ingredients (NASDAQ:MGPI - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.72 EPS for the quarter, topping analysts' consensus estimates of $0.49 by $0.23. MGP Ingredients had a negative net margin of 48.08% and a positive return on equity of 7.41%. The firm had revenue of $124.36 million for the quarter, compared to analyst estimates of $125.16 million. During the same quarter in the prior year, the firm earned $0.97 EPS. The company's revenue was down 14.5% on a year-over-year basis. MGP Ingredients has set its FY 2026 guidance at 1.500-1.800 EPS. On average, research analysts predict that MGP Ingredients, Inc. will post 1.65 earnings per share for the current year.

MGP Ingredients Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Friday, August 14th. MGP Ingredients's dividend payout ratio is -4.26%.

Insider Buying and Selling

In related news, insider Paul Lux sold 33,000 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $17.76, for a total value of $586,080.00. Following the completion of the transaction, the insider owned 550,458 shares in the company, valued at $9,776,134.08. The trade was a 5.66% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Leslie Lux sold 27,731 shares of the business's stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $14.40, for a total transaction of $399,326.40. The disclosure for this sale is available in the SEC filing. Company insiders own 31.70% of the company's stock.

Institutional Investors Weigh In On MGP Ingredients

Institutional investors and hedge funds have recently made changes to their positions in the company. Legal & General Group Plc acquired a new stake in MGP Ingredients in the second quarter worth about $28,000. GAMMA Investing LLC raised its holdings in MGP Ingredients by 334.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,439 shares of the company's stock worth $32,000 after purchasing an additional 1,877 shares during the last quarter. Global Retirement Partners LLC acquired a new position in MGP Ingredients during the 2nd quarter valued at about $55,000. Public Employees Retirement System of Ohio acquired a new position in MGP Ingredients during the 2nd quarter valued at about $111,000. Finally, Versant Capital Management Inc lifted its position in MGP Ingredients by 398.6% during the 3rd quarter. Versant Capital Management Inc now owns 6,901 shares of the company's stock valued at $91,000 after purchasing an additional 5,517 shares during the period. Institutional investors own 77.11% of the company's stock.

About MGP Ingredients

MGP Ingredients, Inc NASDAQ: MGPI is a food and beverage company headquartered in Atchison, Kansas. The company develops and produces distilled spirits, specialty wheat proteins, and specialty starches for consumer brands, food manufacturers, and other commercial customers.

Through its branded spirits business, MGP offers a portfolio of bourbon, rye whiskey, American whiskey, vodka, gin, and other distilled products. Its brands include Lux Row Distillers' Ezra Brooks, Daviess County, and Yellowstone Bourbon, as well as Remus Repeal Reserve.

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