AGI (NYSE:AGBK) Sets New 52-Week Low – Here’s Why

AGI Inc (NYSE:AGBK) shares hit a new 52-week low on Wednesday. The company traded as low as $5.88 and last traded at $5.89, with a volume of 206956 shares changing hands. The stock had previously closed at $6.04.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AGBK. Weiss Ratings restated a “sell (d)” rating on shares of AGI in a research note on Friday, August 7th. The Goldman Sachs Group set a $13.00 price target on AGI in a research note on Thursday, August 6th. Oppenheimer reduced their price objective on AGI from $10.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, August 7th. Finally, Zacks Research downgraded AGI from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. Six analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, AGI currently has an average rating of “Hold” and an average target price of $14.14.

AGI Price Performance

The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.31. The stock’s 50 day moving average price is $6.48 and its two-hundred day moving average price is $7.11. The stock has a market cap of $929.99 million and a price-to-earnings ratio of 9.86.

Insiders Place Their Bets

In other AGI news, CTO Vinicius Birkeland Aloe sold 256,386 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $11.99, for a total transaction of $3,074,068.14. Following the sale, the chief technology officer directly owned 176,423 shares of the company’s stock, valued at approximately $2,115,311.77. This trade represents a 59.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

About AGI

Our mission is to revolutionize financial services for the largest and fastest growing segment of Brazil’s population: individuals who have been underserved by incumbent banks and have not been effectively reached by digital-only banks. We seek to make credit and banking solutions more accessible and affordable for the Brazilian consumers who we believe need it the most, including social security beneficiaries and private and public sector workers. We have designed a unique value proposition for this population, who may be older, have a lower income, be less tech-savvy or have less access to education.