MGP Ingredients director Paul Lux sells $586k in common stock

MGP Ingredients, Inc. (NASDAQ: MGPI) reported on August 20, 2026, that its Director and 10% owner, Paul S. Lux, had sold 33,000 shares of the company's common stock. Lux sold these shares at varying prices, ranging from $17.465 to $17.940 per share, amounting to a total transaction value of $586,221. The current stock price of $18.33 indicates a modest gain from the sale.

InvestingPro data suggests that MGPI shares have declined by 29% over the past six months. However, analysts view the company as undervalued based on their Fair Value analysis. InvestingPro provides 7 additional exclusive tips and comprehensive Pro Research Reports for further insights into MGPI's outlook. Notably, the trust that holds Lux's shares, the Ann S. Lux 2005 Irrevocable Trust FBO Paul S. Lux, was the beneficiary of this sale.

Following the transaction, the trust owned 550,458 shares, accounting for the bulk of Lux's indirect ownership in the company. Lux is believed to retain sole voting and dispositive power over these shares.

Recently, MGP Ingredients disclosed its financial results for the second quarter of 2026. The company reported an adjusted earnings per share (EPS) of $0.72, exceeding analysts' expectations of $0.47. However, revenue fell slightly short of Wall Street's target, amounting to $124.4 million versus the anticipated $125.22 million.

This represented a 15% decline year-over-year. Furthermore, MGP Ingredients amended its credit agreement with Wells Fargo Bank and other lenders. This adjustment permits the company to add back up to $20 million in losses related to certain accounts receivable through December 31, 2027. The intention behind this amendment is to ensure the company's compliance with financial covenants under the credit agreement.

Additionally, MGP Ingredients has opted for an Elevated Ratio Period to manage the earnout obligations stemming from its acquisition of Penelope Bourbon LLC. These recent developments highlight MGP Ingredients' ongoing initiatives to enhance its financial position and operational flexibility. This report was produced with AI assistance and reviewed by an editor for accuracy, as detailed in our Terms of Use.