Mission Produce, Inc. (NASDAQ:AVO - Get Free Report) major shareholder Holdings Venture Globalharvest bought 592,957 shares of the company's stock in a transaction that occurred on Thursday, July 9th. The shares were bought at an average price of $13.28 per share, with a total value of $7,874,468.96. Following the transaction, the insider owned 12,963,396 shares of the company's stock, valued at $172,153,898.88. The trade was a 4.79% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company's shares are required to disclose their transactions with the SEC.
Holdings Venture Globalharvest also recently made the following trade(s):
- On Wednesday, July 8th, Holdings Venture Globalharvest bought 687,222 shares of Mission Produce stock. The shares were bought at an average cost of $13.42 per share, with a total value of $9,222,519.24.
- On Tuesday, July 7th, Holdings Venture Globalharvest purchased 491,865 shares of Mission Produce stock. The stock was bought at an average price of $13.40 per share, for a total transaction of $6,590,991.00.
- On Monday, July 6th, Holdings Venture Globalharvest purchased 650,415 shares of Mission Produce stock. The stock was bought at an average price of $12.73 per share, for a total transaction of $8,279,782.95.
Mission Produce Price Performance
Shares of AVO traded down $0.02 during midday trading on Friday, hitting $13.33. 1,064,582 shares of the company traded hands, compared to its average volume of 1,576,044. The firm has a 50 day moving average of $12.01 and a 200-day moving average of $12.88. Mission Produce, Inc. has a 52 week low of $10.07 and a 52 week high of $15.53. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 41.66 and a beta of 0.49. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 1.91.
Mission Produce announced that its Board of Directors has initiated a stock buyback program on Monday, June 8th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 13.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.
Analyst Upgrades and Downgrades
A number of equities analysts recently commented on AVO shares. Wall Street Zen lowered Mission Produce from a "hold" rating to a "sell" rating in a research note on Saturday, June 13th. UBS Group set a $16.00 price objective on Mission Produce in a research note on Wednesday, June 10th. Freedom Capital raised Mission Produce to a "strong-buy" rating in a report on Thursday, March 19th. Finally, Weiss Ratings downgraded Mission Produce from a "hold (c)" rating to a "hold (c-)" rating in a research report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $16.67.
Read Our Latest Analysis on AVO
Institutional Trading of Mission Produce
Several hedge funds have recently made changes to their positions in AVO. Inspire Investing LLC lifted its holdings in shares of Mission Produce by 312.3% in the 1st quarter. Inspire Investing LLC now owns 167,220 shares of the company's stock valued at $2,301,000 after acquiring an additional 126,658 shares during the last quarter. Platform Wealth Management LLC bought a new stake in Mission Produce during the fourth quarter worth approximately $12,130,000. OP Asset Management Ltd bought a new stake in Mission Produce during the first quarter worth approximately $1,404,000. Fourth Sail Capital LP purchased a new stake in Mission Produce during the fourth quarter valued at approximately $725,000. Finally, Counterpoint Mutual Funds LLC purchased a new stake in Mission Produce during the first quarter valued at approximately $294,000. 63.57% of the stock is currently owned by hedge funds and other institutional investors.
More Mission Produce News
Here are the key news stories impacting Mission Produce this week:
About Mission Produce
(
Get Free Report)
Mission Produce, Inc is a leading global supplier, packer and distributor of fresh avocados, serving retail, foodservice and industrial customers. The company manages a vertically integrated supply chain that spans sourcing, post-harvest handling, packing and ripening. Through proprietary ripening technologies and cold-chain logistics, Mission Produce delivers consistent quality and extended shelf life for its avocado offerings.
Founded in 1983 and headquartered in Oxnard, California, Mission Produce grew from a regional packing operation into a publicly traded company listed on the Nasdaq under the ticker AVO.
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