Assenagon Asset Management S.A. Purchases New Position in MGP Ingredients, Inc. $MGPI

Assenagon Asset Management S.A. acquired a new stake in MGP Ingredients, Inc. (NASDAQ:MGPI) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 194,367 shares of the company’s stock, valued at approximately $4,702,000. Assenagon Asset Management S.A. owned 0.91% of MGP Ingredients at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of MGPI. Brooklyn Investment Group boosted its holdings in MGP Ingredients by 2,365.7% in the 1st quarter. Brooklyn Investment Group now owns 863 shares of the company’s stock worth $25,000 after acquiring an additional 828 shares during the period. Osaic Holdings Inc. lifted its position in shares of MGP Ingredients by 130.3% during the second quarter. Osaic Holdings Inc. now owns 935 shares of the company’s stock worth $28,000 after purchasing an additional 529 shares in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of MGP Ingredients by 278.9% during the second quarter. Tower Research Capital LLC TRC now owns 1,883 shares of the company’s stock worth $56,000 after purchasing an additional 1,386 shares in the last quarter. 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 purchasing an additional 1,332 shares during the period. Finally, State of Wyoming acquired a new stake in MGP Ingredients during the 2nd quarter valued at $117,000. Hedge funds and other institutional investors own 77.11% of the company’s stock.

MGP Ingredients Stock Performance

Shares of MGPI stock opened at $23.99 on Monday. The stock has a market capitalization of $510.75 million, a price-to-earnings ratio of -35.81 and a beta of 0.39. MGP Ingredients, Inc. has a one year low of $21.67 and a one year high of $40.95. The company’s 50-day simple moving average is $24.38 and its 200-day simple moving average is $27.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.69 and a current ratio of 2.78.

MGP Ingredients (NASDAQ:MGPI) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.23. MGP Ingredients had a positive return on equity of 9.65% and a negative net margin of 2.56%.The firm had revenue of $130.91 million for the quarter, compared to analysts’ expectations of $128.33 million. During the same quarter in the prior year, the firm posted $1.29 earnings per share. MGP Ingredients’s revenue for the quarter was down 18.9% compared to the same quarter last year. MGP Ingredients has set its FY 2025 guidance at 2.600-2.750 EPS. Equities analysts anticipate that MGP Ingredients, Inc. will post 5.56 earnings per share for the current fiscal year.

MGP Ingredients Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 28th. Investors of record on Friday, November 14th were paid a dividend of $0.12 per share. The ex-dividend date was Friday, November 14th. This represents a $0.48 annualized dividend and a yield of 2.0%. MGP Ingredients’s dividend payout ratio (DPR) is -71.64%.

Insider Buying and Selling at MGP Ingredients

In other MGP Ingredients news, Director Karen Seaberg sold 181,095 shares of MGP Ingredients stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $24.24, for a total value of $4,389,742.80. Following the completion of the transaction, the director owned 37,417 shares of the company’s stock, valued at $906,988.08. The trade was a 82.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Caroline Lux Kaplan sold 30,000 shares of the stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $23.85, for a total transaction of $715,500.00. Following the sale, the insider directly owned 560,958 shares in the company, valued at $13,378,848.30. This trade represents a 5.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 334,535 shares of company stock worth $8,224,668 over the last 90 days. 34.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MGPI shares. Weiss Ratings reiterated a “sell (d)” rating on shares of MGP Ingredients in a report on Wednesday, October 8th. Wells Fargo & Company dropped 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. Finally, TD Cowen cut their price target on MGP Ingredients from $30.00 to $27.00 and set a “hold” rating on the stock in a research note on Thursday, October 30th. 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

MGP Ingredients Profile

MGP Ingredients, Inc (NASDAQ: MGPI) is a leading producer of distilled spirits and specialty ingredient solutions for the food, beverage and consumer products industries. Headquartered in Atchison, Kansas, the company operates two main facilities—its historic Atchison plant, founded in 1941 as Midwest Grain Products, and a modern distillery in Lawrenceburg, Indiana. MGP Ingredients supplies an array of distillation products under its beverage and ingredient segments, serving brand owners, private-label producers and co-packers worldwide.

The beverage segment features a broad portfolio of premium spirits, including bourbon and rye whiskies, vodka, gin and neutral spirits.