Mission Produce (NASDAQ:AVO) Director Purchases 286,410 Shares of Stock

Mission Produce, Inc. (NASDAQ:AVO) Director Bruce Taylor bought 286,410 shares of the business’s stock in a transaction on Wednesday, June 17th. The stock was purchased at an average price of $11.27 per share, for a total transaction of $3,227,840.70. Following the completion of the acquisition, the director owned 755,842 shares of the company’s stock, valued at approximately $8,518,339.34. This trade represents a 61.01% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Mission Produce Stock Performance

AVO stock opened at $11.49 on Monday. Mission Produce, Inc. has a 1-year low of $10.07 and a 1-year high of $15.53. The company has a current ratio of 1.91, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.01 billion, a PE ratio of 35.91 and a beta of 0.51. The business’s 50-day moving average price is $12.46 and its two-hundred day moving average price is $12.89.

Mission Produce declared that its Board of Directors has authorized a share buyback plan on Monday, June 8th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 13.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts have weighed in on AVO shares. Freedom Capital upgraded Mission Produce to a “strong-buy” rating in a research note on Thursday, March 19th. Wall Street Zen cut shares of Mission Produce from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. UBS Group set a $16.00 target price on shares of Mission Produce in a research report on Wednesday, June 10th. 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 research 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 stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $16.67.

Institutional Trading of Mission Produce

Several institutional investors have recently modified their holdings of the business. Quarry LP acquired a new stake in Mission Produce during the 3rd quarter valued at approximately $29,000. Leonteq Securities AG acquired a new stake in Mission Produce in the 4th quarter valued at $31,000. GAMMA Investing LLC grew its holdings in shares of Mission Produce by 87.1% during the fourth quarter. GAMMA Investing LLC now owns 4,589 shares of the company’s stock valued at $53,000 after buying an additional 2,136 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in Mission Produce by 211.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,649 shares of the company’s stock worth $54,000 after purchasing an additional 3,158 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in Mission Produce by 466.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 7,035 shares of the company’s stock valued at $82,000 after buying an additional 5,792 shares during 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.