Mission Produce (NASDAQ:AVO) Trading Up 5.9% After Insider Buying Activity

Shares of Mission Produce, Inc. (NASDAQ:AVO) were up 5.9% during trading on Wednesday after an insider bought additional shares in the company. The stock traded as high as $12.85 and last traded at $12.8750. Approximately 838,099 shares traded hands during trading, an increase of 3% from the average daily volume of 815,448 shares. The stock had previously closed at $12.16.

Specifically, major shareholder Holdings Venture Globalharvest bought 3,695 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was bought at an average price of $11.94 per share, for a total transaction of $44,118.30. Following the completion of the transaction, the insider directly owned 9,991,577 shares in the company, valued at $119,299,429.38. The trade was a 0.04% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website.

Analyst Ratings Changes

Several research firms recently issued reports on AVO. Weiss Ratings reiterated a “hold (c)” rating on shares of Mission Produce in a report on Wednesday, January 21st. Lake Street Capital reiterated a “buy” rating on shares of Mission Produce in a research report on Thursday, January 15th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Mission Produce currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Mission Produce Stock Up 0.4%

The business has a fifty day moving average of $13.48 and a 200 day moving average of $12.57. The company has a quick ratio of 1.19, a current ratio of 1.86 and a debt-to-equity ratio of 0.19. The firm has a market cap of $888.46 million, a P/E ratio of 27.26 and a beta of 0.60.

Mission Produce (NASDAQ:AVO) last issued its earnings results on Thursday, March 12th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $278.60 million for the quarter, compared to analysts’ expectations of $277.33 million. Mission Produce had a return on equity of 8.24% and a net margin of 2.48%.The company’s revenue was down 26.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 earnings per share. On average, equities research analysts predict that Mission Produce, Inc. will post 0.34 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in Mission Produce by 673.8% in the third quarter. GAMMA Investing LLC now owns 2,453 shares of the company’s stock valued at $29,000 after purchasing an additional 2,136 shares in the last quarter. Quarry LP acquired a new position in shares of Mission Produce in the 3rd quarter valued at $29,000. Leonteq Securities AG bought a new stake in shares of Mission Produce in the 4th quarter valued at $31,000. State of Alaska Department of Revenue acquired a new stake in Mission Produce during the 3rd quarter worth $33,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Mission Produce by 211.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,649 shares of the company’s stock worth $54,000 after acquiring an additional 3,158 shares in the last quarter. Institutional investors own 63.57% of the company’s stock.

About Mission Produce

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.