Janney Montgomery Scott LLC Has $923,000 Stake in MGP Ingredients, Inc. $MGPI

Janney Montgomery Scott LLC increased its stake in shares of MGP Ingredients, Inc. (NASDAQ:MGPI) by 16.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,803 shares of the company’s stock after acquiring an additional 4,290 shares during the period. Janney Montgomery Scott LLC owned about 0.14% of MGP Ingredients worth $923,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MGPI. Penserra Capital Management LLC increased its stake in shares of MGP Ingredients by 333.3% during the 1st quarter. Penserra Capital Management LLC now owns 897 shares of the company’s stock worth $26,000 after purchasing an additional 690 shares during the last quarter. Deutsche Bank AG increased its stake in shares of MGP Ingredients by 1,564.2% during the 1st quarter. Deutsche Bank AG now owns 214,060 shares of the company’s stock worth $6,289,000 after purchasing an additional 201,197 shares during the last quarter. Rhumbline Advisers increased its stake in shares of MGP Ingredients by 24.9% during the 1st quarter. Rhumbline Advisers now owns 51,780 shares of the company’s stock worth $1,521,000 after purchasing an additional 10,316 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of MGP Ingredients by 114.8% during the 1st quarter. GAMMA Investing LLC now owns 1,497 shares of the company’s stock worth $44,000 after purchasing an additional 800 shares during the last quarter. Finally, Illumine Investment Management LLC increased its stake in shares of MGP Ingredients by 168.6% during the 1st quarter. Illumine Investment Management LLC now owns 17,942 shares of the company’s stock worth $527,000 after purchasing an additional 11,263 shares during the last quarter. 77.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Wells Fargo & Company reduced their target price on shares of MGP Ingredients from $38.00 to $33.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Weiss Ratings reissued a “sell (d)” rating on shares of MGP Ingredients in a research note on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $49.67.

MGP Ingredients Trading Down 0.9%

NASDAQ:MGPI opened at $23.72 on Wednesday. The firm has a market cap of $505.00 million, a P/E ratio of -76.52 and a beta of 0.37. MGP Ingredients, Inc. has a 52 week low of $23.45 and a 52 week high of $81.67. The firm’s fifty day moving average is $27.20 and its 200-day moving average is $29.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.79 and a current ratio of 2.91.

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

MGP Ingredients Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were paid a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, August 15th. MGP Ingredients’s dividend payout ratio (DPR) is -154.84%.

About MGP Ingredients

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.