Gruma, S.A.B. de C.V. (OTCMKTS:GPAGF) Sees Large Decline in Short Interest

Gruma, S.A.B. de C.V. (OTCMKTS:GPAGF) saw a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 320,357 shares, a drop of 29.1% from the February 26th total of 451,657 shares. Based on an average trading volume of 0 shares, the days-to-cover ratio is currently ∞ days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Gruma stock. McMillan Office Inc. acquired a new position in shares of Gruma, S.A.B. de C.V. (OTCMKTS:GPAGF) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 25,600 shares of the company’s stock, valued at approximately $476,000. 19.30% of the stock is owned by institutional investors.

Gruma Price Performance

Shares of OTCMKTS:GPAGF remained flat at $18.55 during midday trading on Friday. The company has a 50-day moving average of $18.08 and a two-hundred day moving average of $17.28. Gruma has a 12-month low of $14.16 and a 12-month high of $20.62.

Wall Street Analysts Forecast Growth

Separately, Barclays cut Gruma from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

About Gruma

Gruma, SAB. de C.V. is a Mexico-based multinational food processing company and one of the world’s leading producers of corn flour and tortillas. The company’s core business activities include the manufacture, marketing and sale of corn flour, wheat flour and related products under a portfolio of well-known brands such as Maseca, Mission and Guerrero. Gruma also produces and distributes a variety of flatbreads, snack foods and bakery items tailored to both retail consumers and the foodservice industry.

Founded in 1949 by Roberto González Barrera, Gruma has grown from a single tortilla plant in Monterrey into a global enterprise.