GAMMA Investing LLC Increases Position in MGP Ingredients, Inc. $MGPI

GAMMA Investing LLC boosted its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 89.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,829 shares of the company’s stock after buying an additional 1,332 shares during the quarter. GAMMA Investing LLC’s holdings in MGP Ingredients were worth $85,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its stake in MGP Ingredients by 10.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 158,879 shares of the company’s stock valued at $4,668,000 after buying an additional 14,501 shares in the last quarter. Rhumbline Advisers grew its stake in shares of MGP Ingredients by 24.9% during the first quarter. Rhumbline Advisers now owns 51,780 shares of the company’s stock valued at $1,521,000 after acquiring an additional 10,316 shares in the last quarter. Caxton Associates LLP acquired a new position in shares of MGP Ingredients in the 1st quarter valued at approximately $1,449,000. Millennium Management LLC raised its holdings in MGP Ingredients by 116.6% in the first quarter. Millennium Management LLC now owns 359,813 shares of the company’s stock valued at $10,571,000 after acquiring an additional 193,660 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of MGP Ingredients by 4.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,446 shares of the company’s stock worth $248,000 after purchasing an additional 390 shares during the last quarter. 77.11% of the stock is currently owned by institutional investors and hedge funds.

MGP Ingredients Stock Up 0.6%

MGPI stock opened at $24.69 on Friday. The firm has a market cap of $525.65 million, a PE ratio of -79.65 and a beta of 0.37. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.91 and a quick ratio of 0.79. The firm has a 50 day simple moving average of $28.07 and a 200 day simple moving average of $29.36. MGP Ingredients, Inc. has a 12 month low of $23.80 and a 12 month high of $83.46.

MGP Ingredients (NASDAQ:MGPI) last announced its earnings results on Thursday, July 31st. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.33. The company had revenue of $145.49 million for the quarter, compared to analyst estimates of $138.70 million. MGP Ingredients had a positive return on equity of 10.66% and a negative net margin of 1.08%.MGP Ingredients’s revenue for the quarter was down 23.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.71 earnings per share. MGP Ingredients has set its FY 2025 guidance at 2.450-2.750 EPS. Equities research analysts forecast that MGP Ingredients, Inc. will post 5.56 earnings per share for the current fiscal year.

MGP Ingredients Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, August 15th. MGP Ingredients’s dividend payout ratio is currently -154.84%.

Analyst Ratings Changes

Separately, Wells Fargo & Company cut their target price on shares of MGP Ingredients from $38.00 to $33.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, MGP Ingredients presently has an average rating of “Moderate Buy” and a consensus price target of $49.67.

MGP Ingredients 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.