AGI Inc’s (NYSE:AGBK) Lock-Up Period Will Expire on August 10th

AGI’s (NYSE:AGBK) lock-up period will expire on Monday, August 10th. AGI had issued 20,000,000 shares in its initial public offering on February 11th. The total size of the offering was $240,000,000 based on an initial share price of $12.00. After the expiration of the company’s lock-up period, restrictions preventing company insiders and major shareholders from selling shares in the company will be lifted.

Wall Street Analysts Forecast Growth

AGBK has been the subject of a number of recent research reports. Susquehanna set a $14.00 price objective on shares of AGI in a research note on Friday, May 8th. Itau BBA Securities cut shares of AGI from an “outperform” rating to a “market perform” rating and set a $9.00 target price on the stock. in a research note on Wednesday, May 6th. Zacks Research lowered shares of AGI from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 16th. Finally, Weiss Ratings started coverage on shares of AGI in a research note on Tuesday, May 12th. They set a “sell (d)” rating for the company. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $15.86.

AGI Stock Down 2.4%

AGI stock opened at $7.00 on Wednesday. AGI has a 52-week low of $6.32 and a 52-week high of $12.21. The business’s fifty day moving average is $7.00. The firm has a market capitalization of $1.12 billion and a price-to-earnings ratio of 22.56.

AGI (NYSE:AGBK) last posted its earnings results on Tuesday, May 5th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.01. The firm had revenue of $260.00 million during the quarter, compared to the consensus estimate of $445.13 million.

About AGI

Our mission is to revolutionize financial services for the largest and fastest growing segment of Brazil’s population: individuals who have been underserved by incumbent banks and have not been effectively reached by digital-only banks. We seek to make credit and banking solutions more accessible and affordable for the Brazilian consumers who we believe need it the most, including social security beneficiaries and private and public sector workers. We have designed a unique value proposition for this population, who may be older, have a lower income, be less tech-savvy or have less access to education.