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

MGP Ingredients, Inc. (NASDAQ:MGPI) shares crossed 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 changing hands.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of MGP Ingredients in a report on Friday, July 31st. Wells Fargo & Company cut 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. Roth Capital reduced their target price on shares of MGP Ingredients from $32.00 to $30.00 and set a “buy” rating for the company in a report on Friday, October 16th. Finally, TD Cowen boosted their target price on MGP Ingredients from $18.00 to $20.00 and gave the company a “hold” rating in a report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, MGP Ingredients presently has an average rating of “Hold” and an average price target of $25.50.

MGP Ingredients Stock Up 9.2%

The firm’s 50 day moving average is $15.16 and its 200-day moving average is $16.95. The company has a quick ratio of 1.65, a current ratio of 6.99 and a debt-to-equity ratio of 0.61. The firm has a market cap of $347.91 million, a PE ratio of -1.44 and a beta of 0.49.

MGP Ingredients (NASDAQ:MGPI) last issued its earnings results on Wednesday, July 29th. The company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.23. MGP Ingredients had a positive return on equity of 7.41% and a negative net margin of 48.08%. The business had revenue of $124.36 million for the quarter, compared to analyst estimates of $125.16 million. During the same period last year, the company posted $0.97 EPS. The business’s quarterly 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. As a group, equities research analysts expect that MGP Ingredients, Inc. will post 1.65 earnings per share for the current fiscal year.

MGP Ingredients Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 28th. Shareholders of record on Friday, August 14th were issued a $0.12 dividend. The ex-dividend date of this dividend was Friday, August 14th. This represents a $0.48 dividend on an annualized basis and a yield of 3.0%. MGP Ingredients’s dividend payout ratio (DPR) is currently -4.26%.

Insider Buying and Selling at MGP Ingredients

In other MGP Ingredients news, insider Paul Lux sold 33,000 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $17.76, for a total transaction of $586,080.00. Following the completion of the transaction, the insider directly owned 550,458 shares of the company’s stock, 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 this hyperlink. Also, insider Leslie Lux sold 27,731 shares of the firm’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $14.40, for a total transaction of $399,326.40. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 31.70% of the company’s stock.

Hedge Funds Weigh In On MGP Ingredients

Institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in shares of MGP Ingredients by 334.0% in the third quarter. GAMMA Investing LLC now owns 2,439 shares of the company’s stock valued at $32,000 after purchasing an additional 1,877 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of MGP Ingredients by 398.6% during the 3rd quarter. Versant Capital Management Inc now owns 6,901 shares of the company’s stock worth $91,000 after acquiring an additional 5,517 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of MGP Ingredients in the 2nd quarter worth approximately $111,000. Corient Private Wealth LP acquired a new stake in shares of MGP Ingredients in the 2nd quarter valued at $270,000. Finally, Bank of America Corp DE acquired a new stake in shares of MGP Ingredients during the second quarter worth approximately $1,857,000. Hedge funds and other institutional investors own 77.11% of the company’s stock.

MGP Ingredients Company Profile

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.