OceanIQ Capital LLC Acquires New Position in Cresud S.A.C.I.F. y A. $CRESY

OceanIQ Capital LLC acquired a new stake in Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 61,448 shares of the company’s stock, valued at approximately $650,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in shares of Cresud S.A.C.I.F. y A. in the second quarter valued at approximately $25,000. Van ECK Associates Corp raised its position in Cresud S.A.C.I.F. y A. by 103.9% during the 4th quarter. Van ECK Associates Corp now owns 5,802 shares of the company’s stock valued at $73,000 after purchasing an additional 2,957 shares in the last quarter. Bank of America Corp DE raised its position in Cresud S.A.C.I.F. y A. by 464.8% during the 4th quarter. Bank of America Corp DE now owns 8,116 shares of the company’s stock valued at $103,000 after purchasing an additional 6,679 shares in the last quarter. Acuitas Investments LLC purchased a new stake in shares of Cresud S.A.C.I.F. y A. in the 1st quarter worth $127,000. Finally, PharVision Advisers LLC purchased a new stake in shares of Cresud S.A.C.I.F. y A. in the 3rd quarter worth $135,000. 12.90% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cresud S.A.C.I.F. y A. news, Director Fernando Elsztain sold 70,000 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $1.26, for a total transaction of $88,200.00. Following the sale, the director owned 685,121 shares of the company’s stock, valued at approximately $863,252.46. This trade represents a 9.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 139,385 shares of company stock worth $165,517 in the last ninety days. 36.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on CRESY shares. Wall Street Zen lowered Cresud S.A.C.I.F. y A. from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Cresud S.A.C.I.F. y A. in a research note on Wednesday, June 24th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

Cresud S.A.C.I.F. y A. Stock Up 1.9%

Shares of CRESY stock opened at $12.07 on Friday. The stock has a market capitalization of $762.63 million, a price-to-earnings ratio of 5.44 and a beta of 0.75. The company’s 50 day simple moving average is $11.08. The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 0.46. Cresud S.A.C.I.F. y A. has a 52-week low of $8.39 and a 52-week high of $14.21.

About Cresud S.A.C.I.F. y A.

Cresud SAC.I.F. y A. (NASDAQ:CRESY) is an Argentina-based company primarily engaged in agribusiness and real estate activities. Headquartered in Buenos Aires, Cresud operates through a network of subsidiaries focused on crop production, livestock breeding and sustainability initiatives. The company’s agricultural arm cultivates major row crops such as soybeans, corn and wheat, and maintains a sizeable cattle herd across its extensive landholdings.

In its farming operations, Cresud emphasizes soil management, water resource optimization and technological integration.