Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) Trading 8.2% Higher – Here’s What Happened

Shares of Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) traded up 8.2% during mid-day trading on Thursday . The company traded as high as $12.58 and last traded at $12.5460. 195,993 shares changed hands during mid-day trading, a decline of 25% from the average session volume of 260,711 shares. The stock had previously closed at $11.59.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Cresud S.A.C.I.F. y A. in a report on Friday, March 27th. Wall Street Zen downgraded Cresud S.A.C.I.F. y A. from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Cresud S.A.C.I.F. y A. presently has an average rating of “Hold”.

Cresud S.A.C.I.F. y A. Stock Up 8.7%

The firm has a market cap of $796.06 million, a P/E ratio of 5.65 and a beta of 0.71. The company has a quick ratio of 1.05, a current ratio of 1.43 and a debt-to-equity ratio of 0.46.

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $0.45 EPS for the quarter. The firm had revenue of $182.78 million during the quarter. Cresud S.A.C.I.F. y A. had a return on equity of 7.21% and a net margin of 17.44%.

Insider Buying and Selling

In other news, Director Eduardo S. Elsztain purchased 58,595 shares of the company’s stock in a transaction that occurred on Wednesday, May 13th. The shares were acquired at an average cost of $10.57 per share, with a total value of $619,349.15. Following the transaction, the director owned 9,845,278 shares in the company, valued at approximately $104,064,588.46. The trade was a 0.60% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alejandro Gustavo Elsztain purchased 18,200 shares of the company’s stock in a transaction that occurred on Friday, June 5th. The shares were purchased at an average cost of $10.95 per share, for a total transaction of $199,290.00. Following the completion of the transaction, the director owned 1,225,764 shares in the company, valued at approximately $13,422,115.80. This represents a 1.51% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders have acquired 103,451 shares of company stock worth $1,112,911. 36.20% of the stock is currently owned by company insiders.

Institutional Trading of Cresud S.A.C.I.F. y A.

Several hedge funds have recently made changes to their positions in CRESY. Raymond James Financial Inc. bought a new stake in shares of Cresud S.A.C.I.F. y A. in the 2nd quarter worth approximately $25,000. Van ECK Associates Corp lifted its holdings in shares of Cresud S.A.C.I.F. y A. by 103.9% in the 4th quarter. Van ECK Associates Corp now owns 5,802 shares of the company’s stock worth $73,000 after purchasing an additional 2,957 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Cresud S.A.C.I.F. y A. by 464.8% in the 4th quarter. Bank of America Corp DE now owns 8,116 shares of the company’s stock worth $103,000 after purchasing an additional 6,679 shares during the last quarter. Salzhauer Michael acquired a new stake in Cresud S.A.C.I.F. y A. in the 4th quarter valued at approximately $126,000. Finally, Acuitas Investments LLC bought a new stake in Cresud S.A.C.I.F. y A. during the 1st quarter valued at $127,000. Institutional investors own 12.90% of the company’s stock.

Cresud S.A.C.I.F. y A. Company Profile

Cresud SAC.I.F. y A. (NASDAQ:CRESY) is an Argentina-based company primarily engaged in agribusiness and real estate activities. Headquartered in Buenos Aires, Cresud operates through a network of subsidiaries focused on crop production, livestock breeding and sustainability initiatives. The company’s agricultural arm cultivates major row crops such as soybeans, corn and wheat, and maintains a sizeable cattle herd across its extensive landholdings.

In its farming operations, Cresud emphasizes soil management, water resource optimization and technological integration.