BidaskClub upgraded shares of Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) from a strong sell rating to a sell rating in a report released on Wednesday morning.
Shares of Cresud S.A.C.I.F. y A. stock traded down $0.15 during midday trading on Wednesday, reaching $12.65. 300 shares of the company’s stock traded hands, compared to its average volume of 136,525. The company has a debt-to-equity ratio of 2.35, a quick ratio of 1.35 and a current ratio of 1.51. Cresud S.A.C.I.F. y A. has a 12 month low of $11.99 and a 12 month high of $23.69.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Newfoundland Capital Management grew its stake in shares of Cresud S.A.C.I.F. y A. by 174.1% in the first quarter. Newfoundland Capital Management now owns 6,660,270 shares of the company’s stock worth $134,204,000 after acquiring an additional 4,230,269 shares during the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Cresud S.A.C.I.F. y A. in the second quarter worth $1,992,000. City of London Investment Management Co. Ltd. purchased a new stake in shares of Cresud S.A.C.I.F. y A. in the second quarter worth $918,000. Russell Investments Group Ltd. grew its stake in shares of Cresud S.A.C.I.F. y A. by 9.6% in the second quarter. Russell Investments Group Ltd. now owns 705,285 shares of the company’s stock worth $10,524,000 after acquiring an additional 61,568 shares during the last quarter. Finally, Bienville Capital Management LLC purchased a new stake in shares of Cresud S.A.C.I.F. y A. in the second quarter worth $667,000. Institutional investors and hedge funds own 26.08% of the company’s stock.
About Cresud S.A.C.I.F. y A.
Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria, an agricultural company, produces basic agricultural commodities in Brazil and other Latin American countries. The Agricultural business is involved in planting, harvesting, and sale of crops, such as wheat, corn, soybean, cotton, and sunflower, as well as sugarcane; breeding, purchasing, and fattening of beef cattle for sale to meat processors and local livestock auction markets; producing raw milk for sale to local milk and milk-related products producers; the leasing of farms to third parties; the disposal and development of farmlands activities; and feedlot farming, as well as meat slaughtering and processing activities.
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