Signaturefd LLC Decreases Stake in MGP Ingredients, Inc. $MGPI

Signaturefd LLC cut its holdings in MGP Ingredients, Inc. (NASDAQ:MGPI) by 20.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,755 shares of the company’s stock after selling 463 shares during the quarter. Signaturefd LLC’s holdings in MGP Ingredients were worth $53,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Counterpoint Mutual Funds LLC purchased a new stake in shares of MGP Ingredients in the second quarter valued at approximately $405,000. GAMMA Investing LLC boosted its stake in shares of MGP Ingredients by 89.0% in the second quarter. GAMMA Investing LLC now owns 2,829 shares of the company’s stock valued at $85,000 after buying an additional 1,332 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of MGP Ingredients by 10.0% in the first 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 boosted its stake in shares of MGP Ingredients by 24.9% in the first quarter. Rhumbline Advisers now owns 51,780 shares of the company’s stock valued at $1,521,000 after buying an additional 10,316 shares in the last quarter. Finally, Caxton Associates LLP purchased a new stake in shares of MGP Ingredients in the first quarter valued at approximately $1,449,000. 77.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have commented on MGPI. Weiss Ratings reiterated a “sell (d)” rating on shares of MGP Ingredients in a research report on Saturday, September 27th. Wells Fargo & Company decreased their target price on MGP Ingredients from $38.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, MGP Ingredients has an average rating of “Moderate Buy” and an average price target of $49.67.

MGP Ingredients Stock Performance

NASDAQ MGPI opened at $23.80 on Tuesday. MGP Ingredients, Inc. has a fifty-two week low of $23.78 and a fifty-two week high of $81.67. The stock has a market cap of $506.77 million, a price-to-earnings ratio of -76.77 and a beta of 0.37. The business has a fifty day moving average of $27.78 and a 200-day moving average of $29.25. The company has a quick ratio of 0.79, a current ratio of 2.91 and a debt-to-equity ratio of 0.35.

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

MGP Ingredients Announces Dividend

The firm also recently announced 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 2.0%. The ex-dividend date was Friday, August 15th. MGP Ingredients’s dividend payout ratio is presently -154.84%.

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.