Parvin Asset Management LLC Invests $564,000 in Mission Produce, Inc. $AVO

Parvin Asset Management LLC bought a new position in shares of Mission Produce, Inc. (NASDAQ:AVO) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 47,839 shares of the company’s stock, valued at approximately $564,000. Parvin Asset Management LLC owned 0.05% of Mission Produce as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. AQR Capital Management LLC raised its holdings in Mission Produce by 228.4% in the 1st quarter. AQR Capital Management LLC now owns 95,816 shares of the company’s stock valued at $1,004,000 after acquiring an additional 66,640 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Mission Produce by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,825 shares of the company’s stock worth $271,000 after acquiring an additional 1,092 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Mission Produce by 10.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,304 shares of the company’s stock worth $1,711,000 after acquiring an additional 15,076 shares during the period. Jane Street Group LLC boosted its holdings in shares of Mission Produce by 179.7% during the first quarter. Jane Street Group LLC now owns 65,813 shares of the company’s stock worth $690,000 after acquiring an additional 42,284 shares during the period. Finally, Acadian Asset Management LLC acquired a new position in shares of Mission Produce in the first quarter valued at approximately $581,000. Institutional investors and hedge funds own 63.57% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on AVO. Wall Street Zen lowered Mission Produce from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. UBS Group set a $16.00 price target on Mission Produce in a research note on Wednesday, June 10th. Finally, Weiss Ratings lowered Mission Produce from a “hold (c)” rating to a “hold (c-)” rating in a report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $16.67.

Mission Produce Stock Performance

AVO opened at $12.95 on Thursday. The firm has a market cap of $1.14 billion, a P/E ratio of 40.47 and a beta of 0.49. Mission Produce, Inc. has a 52-week low of $10.07 and a 52-week high of $15.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 1.91. The business’s fifty day moving average is $12.75 and its 200-day moving average is $12.99.

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

Insider Activity

In other Mission Produce news, CFO Bryan E. Giles sold 5,000 shares of the firm’s stock in a transaction dated Monday, June 29th. The shares were sold at an average price of $12.13, for a total value of $60,650.00. Following the transaction, the chief financial officer directly owned 146,931 shares of the company’s stock, valued at $1,782,273.03. This trade represents a 3.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Holdings Venture Globalharvest bought 592,957 shares of the company’s stock in a transaction dated Thursday, July 9th. The stock was purchased at an average price of $13.28 per share, with a total value of $7,874,468.96. Following the completion of the transaction, the insider directly owned 12,963,396 shares in the company, valued at approximately $172,153,898.88. This represents a 4.79% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders acquired 3,352,161 shares of company stock worth $42,458,664. 30.85% of the stock is owned by company insiders.

Mission Produce Company Profile

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.