MGP Ingredients, Inc. (MGPI) – What Are Brokerages Thinking About This Stock?

Shares of MGP Ingredients, Inc. (NASDAQ:MGPI) have earned a consensus recommendation of “Hold” from the six research firms that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $26.25.

Several equities research analysts have commented on MGPI shares. Wells Fargo & Company upped their price objective on MGP Ingredients from $17.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, October 29th. Roth Capital cut 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. Weiss Ratings cut shares of MGP Ingredients from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, October 29th. Finally, TD Cowen increased their price target on shares of MGP Ingredients from $18.00 to $20.00 and gave the stock a “hold” rating in a report on Thursday, July 30th.

Insider Transactions at MGP Ingredients

In other MGP Ingredients news, insider Paul S. Lux sold 33,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $17.76, for a total value of $586,080.00. Following the sale, the insider directly owned 550,458 shares of the company’s stock, valued at approximately $9,776,134.08. This trade represents a 5.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Leslie Lux sold 27,731 shares of the business’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 value of $399,326.40. Additional details regarding this sale are available in the official SEC disclosure. 31.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On MGP Ingredients

Institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its position in shares of MGP Ingredients by 1,897.1% in the third quarter. Parallel Advisors LLC now owns 2,097 shares of the company’s stock valued at $28,000 after purchasing an additional 1,992 shares during the period. Villanova Investment Management Co lifted its stake in MGP Ingredients by 51.4% in the 3rd quarter. Villanova Investment Management Co now owns 94,356 shares of the company’s stock valued at $1,250,000 after buying an additional 32,030 shares in the last quarter. GAMMA Investing LLC boosted its holdings in MGP Ingredients by 334.0% in the 3rd quarter. GAMMA Investing LLC now owns 2,439 shares of the company’s stock worth $32,000 after buying an additional 1,877 shares during the last quarter. Versant Capital Management Inc increased its stake in 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 buying an additional 5,517 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of MGP Ingredients during the second quarter worth approximately $111,000. Institutional investors and hedge funds own 77.11% of the company’s stock.

MGP Ingredients Stock Performance

Shares of MGPI stock opened at $16.79 on Friday. The stock has a market cap of $359.50 million, a PE ratio of -1.44 and a beta of 0.49. The business has a 50-day simple moving average of $14.96 and a 200-day simple moving average of $18.25. The company has a quick ratio of 1.65, a current ratio of 6.91 and a debt-to-equity ratio of 0.56. MGP Ingredients has a 52-week low of $12.42 and a 52-week high of $26.62.

MGP Ingredients (NASDAQ:MGPI) last posted its earnings results on Wednesday, October 28th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.32 by $0.07. The firm had revenue of $117.91 million for the quarter, compared to analyst estimates of $119.70 million. MGP Ingredients had a positive return on equity of 6.58% and a negative net margin of 51.12%. MGP Ingredients’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same period last year, the company earned $0.85 earnings per share. On average, equities analysts expect that MGP Ingredients will post 1.70 EPS for the current year.

MGP Ingredients Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $0.48 dividend on an annualized basis and a yield of 2.9%. MGP Ingredients’s payout ratio is presently -4.12%.

MGP Ingredients Company Profile

MGP Ingredients, Inc (NASDAQ: MGPI) is a producer and marketer of distilled spirits and specialty food and beverage ingredients. The company operates distilleries and processing facilities that manufacture bourbon, rye whiskey, vodka, gin, tequila and other distilled products, as well as grain-based alcohol and related ingredients.

The company serves customers through both its Distilling Solutions and Branded Spirits businesses. Its branded portfolio includes products such as Ezra Brooks, Yellowstone, Daviess County, El Mayor and Everclear, while its distilling operations supply spirits and alcohol to beverage companies and other commercial customers.