Insider Buying: Mission Produce (NASDAQ:AVO) Major Shareholder Acquires $990,150.00 in Stock

Mission Produce, Inc. (NASDAQ:AVO) major shareholder Holdings Venture Globalharvest acquired 71,750 shares of Mission Produce stock in a transaction dated Thursday, January 22nd. The shares were acquired at an average price of $13.80 per share, with a total value of $990,150.00. Following the completion of the transaction, the insider owned 9,770,608 shares of the company’s stock, valued at approximately $134,834,390.40. This trade represents a 0.74% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Holdings Venture Globalharvest also recently made the following trade(s):

• On Wednesday, January 21st, Holdings Venture Globalharvest bought 237,270 shares of Mission Produce stock. The shares were acquired at an average cost of $12.92 per share, for a total transaction of $3,065,528.40.
• On Tuesday, January 20th, Holdings Venture Globalharvest purchased 300,000 shares of Mission Produce stock. The shares were acquired at an average price of $12.50 per share, with a total value of $3,750,000.00.
• On Friday, January 16th, Holdings Venture Globalharvest purchased 324,295 shares of Mission Produce stock. The stock was acquired at an average cost of $12.37 per share, with a total value of $4,011,529.15.
• On Thursday, January 15th, Holdings Venture Globalharvest purchased 985,704 shares of Mission Produce stock. The shares were acquired at an average cost of $11.76 per share, for a total transaction of $11,591,879.04.
• On Thursday, January 8th, Holdings Venture Globalharvest acquired 13,683 shares of Mission Produce stock. The stock was bought at an average cost of $11.96 per share, with a total value of $163,648.68.
• On Wednesday, January 7th, Holdings Venture Globalharvest bought 7,472 shares of Mission Produce stock. The stock was bought at an average price of $11.61 per share, with a total value of $86,749.92.
• On Monday, December 29th, Holdings Venture Globalharvest bought 59,761 shares of Mission Produce stock. The shares were bought at an average cost of $11.60 per share, for a total transaction of $693,227.60.
• On Friday, December 26th, Holdings Venture Globalharvest purchased 13,679 shares of Mission Produce stock. The stock was bought at an average cost of $11.64 per share, with a total value of $159,223.56.
• On Wednesday, December 24th, Holdings Venture Globalharvest acquired 15,365 shares of Mission Produce stock. The stock was bought at an average price of $11.60 per share, with a total value of $178,234.00.
• On Tuesday, December 23rd, Holdings Venture Globalharvest acquired 112,505 shares of Mission Produce stock. The shares were bought at an average price of $11.61 per share, for a total transaction of $1,306,183.05.

Mission Produce Price Performance

Shares of NASDAQ:AVO opened at $13.31 on Thursday. The stock has a market cap of $939.29 million, a price-to-earnings ratio of 25.60 and a beta of 0.56. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.95 and a quick ratio of 1.35. Mission Produce, Inc. has a 12 month low of $9.56 and a 12 month high of $14.23. The stock’s 50 day moving average price is $12.27 and its 200 day moving average price is $12.22.

Mission Produce (NASDAQ:AVO) last issued its quarterly earnings results on Thursday, December 18th. The company reported $0.22 earnings per share (EPS) 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 analyst estimates of $301.60 million. Mission Produce had a net margin of 2.71% and a return on equity of 8.18%. The firm’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 earnings per share. Equities research analysts anticipate that Mission Produce, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

AVO has been the topic of several recent research reports. Lake Street Capital reaffirmed a “buy” rating on shares of Mission Produce in a research note on Thursday, January 15th. Weiss Ratings restated a “hold (c)” rating on shares of Mission Produce in a research report on Wednesday, January 21st. Finally, Zacks Research downgraded Mission Produce from a “strong-buy” rating to a “hold” rating in a research report on Monday, November 10th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.00.

Institutional Investors Weigh In On Mission Produce

A number of large investors have recently made changes to their positions in AVO. Quarry LP purchased a new stake in shares of Mission Produce in the 3rd quarter valued at approximately $29,000. GAMMA Investing LLC lifted its holdings 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 valued at $29,000 after purchasing an additional 2,136 shares in the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Mission Produce during the third quarter valued at $33,000. Tower Research Capital LLC TRC raised its position in Mission Produce by 211.8% during the second 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 during the period. Finally, AlphaQuest LLC lifted its stake in Mission Produce by 33.7% in the 3rd quarter. AlphaQuest LLC now owns 4,662 shares of the company’s stock worth $56,000 after acquiring an additional 1,174 shares in the last quarter. Institutional investors and hedge funds own 63.57% of the company’s stock.

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.