Adecoagro (NYSE:AGRO) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Adecoagro S.A. (NYSE:AGRO) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.16 and traded as high as $13.60. Adecoagro shares last traded at $13.3410, with a volume of 711,936 shares traded.

Analyst Ratings Changes

Several research firms recently commented on AGRO. Citigroup downgraded Adecoagro from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $13.00 to $15.00 in a report on Tuesday, April 14th. Zacks Research downgraded Adecoagro from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Weiss Ratings downgraded Adecoagro from a “hold (c)” rating to a “sell (d+)” rating in a research note on Wednesday. Morgan Stanley upgraded Adecoagro from an “underweight” rating to an “equal weight” rating and boosted their price target for the company from $9.50 to $13.00 in a research note on Tuesday, March 17th. Finally, UBS Group upgraded Adecoagro from a “neutral” rating to a “buy” rating and boosted their price target for the company from $8.00 to $16.20 in a research note on Monday, March 30th. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Adecoagro currently has a consensus rating of “Reduce” and an average price target of $11.53.

Adecoagro Trading Down 5.9%

The stock has a 50 day simple moving average of $13.62 and a 200-day simple moving average of $10.22. The firm has a market capitalization of $1.83 billion, a P/E ratio of 640.87 and a beta of -0.04. The company has a current ratio of 1.74, a quick ratio of 0.86 and a debt-to-equity ratio of 0.80.

Adecoagro (NYSE:AGRO) last announced its quarterly earnings data on Monday, May 11th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.49). The company had revenue of $419.45 million for the quarter, compared to the consensus estimate of $408.94 million. Adecoagro had a net margin of 0.95% and a negative return on equity of 2.38%. On average, equities research analysts forecast that Adecoagro S.A. will post 1.45 EPS for the current fiscal year.

Adecoagro Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, May 19th. Investors of record on Monday, May 4th were paid a dividend of $0.1213 per share. The ex-dividend date was Monday, May 4th. This represents a dividend yield of 160.0%. Adecoagro’s payout ratio is 1,200.00%.

Insider Activity

In related news, CEO Mariano Bosch sold 100,000 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $14.50, for a total transaction of $1,450,000.00. Following the completion of the transaction, the chief executive officer directly owned 897,249 shares in the company, valued at approximately $13,010,110.50. The trade was a 10.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last ninety days, insiders sold 106,815 shares of company stock worth $1,540,799. Insiders own 6.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AGRO. Ghisallo Capital Management LLC bought a new position in shares of Adecoagro during the 4th quarter valued at approximately $2,987,000. Decker Retirement Planning Inc. purchased a new position in Adecoagro in the 1st quarter worth approximately $4,629,000. PenderFund Capital Management Ltd. purchased a new position in Adecoagro in the 3rd quarter worth approximately $1,960,000. Invesco Ltd. lifted its holdings in Adecoagro by 86.5% in the 2nd quarter. Invesco Ltd. now owns 458,693 shares of the company’s stock worth $4,192,000 after purchasing an additional 212,685 shares in the last quarter. Finally, Burkehill Global Management LP purchased a new position in Adecoagro in the 4th quarter worth approximately $1,586,000. 45.25% of the stock is currently owned by institutional investors.

About Adecoagro

Adecoagro (NYSE: AGRO) is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.

The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.