Nuance Investments LLC Sells 526,768 Shares of Mission Produce, Inc. $AVO

Nuance Investments LLC lessened its holdings in Mission Produce, Inc. (NASDAQ:AVO) by 54.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 444,288 shares of the company’s stock after selling 526,768 shares during the period. Nuance Investments LLC owned approximately 0.63% of Mission Produce worth $5,340,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of AVO. GAMMA Investing LLC increased its stake in shares of Mission Produce by 673.8% in the third quarter. GAMMA Investing LLC now owns 2,453 shares of the company’s stock worth $29,000 after purchasing an additional 2,136 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Mission Produce in the third quarter worth approximately $33,000. Tower Research Capital LLC TRC raised its position in shares of Mission Produce by 211.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,649 shares of the company’s stock valued at $54,000 after buying an additional 3,158 shares in the last quarter. AlphaQuest LLC raised its position in Mission Produce by 33.7% during the third quarter. AlphaQuest LLC now owns 4,662 shares of the company’s stock valued at $56,000 after purchasing an additional 1,174 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of Mission Produce during the 3rd quarter valued at about $119,000. 63.57% of the stock is owned by institutional investors.

Insider Activity at Mission Produce

In other news, major shareholder Holdings Venture Globalharvest purchased 71,750 shares of the company’s stock in a transaction that occurred on Thursday, January 22nd. The stock was bought at an average cost of $13.80 per share, with a total value of $990,150.00. Following the completion of the purchase, the insider owned 9,770,608 shares in the company, valued at approximately $134,834,390.40. This represents a 0.74% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders bought 2,141,484 shares of company stock valued at $25,996,353 in the last quarter. 35.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Zacks Research downgraded shares of Mission Produce from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Weiss Ratings restated a “hold (c)” rating on shares of Mission Produce in a report on Wednesday, January 21st. Finally, Lake Street Capital restated a “buy” rating on shares of Mission Produce in a research note on Thursday, January 15th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $17.00.

Mission Produce Stock Performance

Shares of NASDAQ AVO opened at $14.03 on Monday. The firm has a 50 day moving average of $12.52 and a 200 day moving average of $12.30. Mission Produce, Inc. has a 12-month low of $9.56 and a 12-month high of $14.23. The company has a current ratio of 1.95, a quick ratio of 1.35 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $990.10 million, a price-to-earnings ratio of 26.98 and a beta of 0.62.

Mission Produce (NASDAQ:AVO) last issued its quarterly earnings results on Thursday, December 18th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). The firm had revenue of $319.00 million for the quarter, compared to analysts’ expectations of $301.60 million. Mission Produce had a net margin of 2.71% and a return on equity of 8.18%. Mission Produce’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.28 EPS. On average, research analysts anticipate that Mission Produce, Inc. will post 0.34 earnings per share for the current year.

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.