Cheap, Crowded, and Possibly Mispriced: A Swing Trade Idea on MGP Ingredients
MGP Ingredients (MGPI) trades near its 52-week low with a market cap of $347.7M, positive free cash flow of $54.0M, and an EV/EBITDA of 6.5. The company looks inexpensive on headline multiples, but demand weakness in branded spirits, inventory accounting hits and class-action investigations have compressed earnings and sentiment. This is a contrari…