Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY)’s share price passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $0.00 and traded as high as $11.90. Cresud S.A.C.I.F. y A. shares last traded at $11.58, with a volume of 164,197 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Cresud S.A.C.I.F. y A. from a “hold (c)” rating to a “hold (c-)” rating in a report on Friday, October 2nd. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat, the stock currently has an average rating of “Hold”.

Cresud S.A.C.I.F. y A. Trading Down 1.4%

The firm has a market cap of $721.52 million, a PE ratio of 6.38 and a beta of 0.68. The company has a quick ratio of 1.05, a current ratio of 1.43 and a debt-to-equity ratio of 0.46. The stock has a 50-day moving average price of $11.60.

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) last issued its earnings results on Saturday, August 15th. The company reported $1.14 earnings per share for the quarter. The company had revenue of $298.16 million for the quarter. Cresud S.A.C.I.F. y A. had a return on equity of 6.18% and a net margin of 12.93%.

Insider Buying and Selling

In other Cresud S.A.C.I.F. y A. news, Director Fernando Elsztain sold 65,000 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $1.25, for a total value of $81,250.00. Following the transaction, the director owned 515,736 shares in the company, valued at approximately $644,670. This represents a 11.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 165,000 shares of company stock worth $195,350 over the last quarter. Insiders own 36.20% of the company’s stock.

Hedge Funds Weigh In On Cresud S.A.C.I.F. y A.

Several institutional investors and hedge funds have recently modified their holdings of CRESY. Kopernik Global Investors LLC increased its stake in shares of Cresud S.A.C.I.F. y A. by 4.0% in the first quarter. Kopernik Global Investors LLC now owns 4,415,543 shares of the company’s stock worth $56,166,000 after acquiring an additional 168,662 shares during the last quarter. OceanIQ Capital LLC acquired a new stake in Cresud S.A.C.I.F. y A. during the second quarter valued at $650,000. R Squared Ltd grew its stake in Cresud S.A.C.I.F. y A. by 14.7% in the first quarter. R Squared Ltd now owns 17,534 shares of the company’s stock valued at $223,000 after purchasing an additional 2,253 shares in the last quarter. Finally, Acuitas Investments LLC purchased a new position in Cresud S.A.C.I.F. y A. in the first quarter valued at about $127,000. 12.90% of the stock is currently owned by hedge funds and other institutional investors.

Cresud S.A.C.I.F. y A. Company Profile

Cresud SAC.I.F. y A. is an Argentine agricultural company engaged in the acquisition, development, operation and sale of farmland. Its activities include the production of grains and oilseeds, cattle ranching and the management of agricultural properties. The company also develops irrigation, infrastructure and other improvements intended to increase the productivity and value of its land portfolio.

Cresud’s farming operations have included crops such as soybeans, corn, wheat and sunflower, along with livestock production.