Adecoagro S.A. (NYSE:AGRO – Get Free Report) shares dropped 7% during trading on Monday following insider selling activity. The company traded as low as $13.10 and last traded at $13.1270. Approximately 603,821 shares traded hands during trading, a decline of 42% from the average daily volume of 1,040,548 shares. The stock had previously closed at $14.11.
Specifically, CEO Mariano Bosch sold 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $14.50, for a total transaction of $1,450,000.00. Following the completion of the sale, the chief executive officer owned 897,249 shares of the company’s stock, valued at $13,010,110.50. This trade represents a 10.03% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.
Analyst Upgrades and Downgrades
AGRO has been the topic of a number of research reports. Truist Financial set a $9.00 target price on shares of Adecoagro in a research report on Friday, January 9th. Bank of America raised shares of Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 price target for the company in a research note on Friday, January 9th. JPMorgan Chase & Co. initiated coverage on shares of Adecoagro in a report on Monday, December 1st. They set an “underweight” rating and a $7.00 price objective on the stock. UBS Group cut their price objective on shares of Adecoagro from $8.50 to $8.00 and set a “neutral” rating on the stock in a research report on Tuesday, December 2nd. Finally, Wall Street Zen downgraded Adecoagro from a “hold” rating to a “sell” rating in a research note on Sunday, November 23rd. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $9.20.
Adecoagro Price Performance
The stock has a market capitalization of $1.35 billion, a P/E ratio of -167.87, a price-to-earnings-growth ratio of 0.29 and a beta of 0.44. The business’s 50 day simple moving average is $9.44 and its two-hundred day simple moving average is $8.45. The company has a quick ratio of 0.82, a current ratio of 1.38 and a debt-to-equity ratio of 0.77.
Adecoagro (NYSE:AGRO – Get Free Report) last posted its earnings results on Monday, March 16th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.09) by ($0.07). Adecoagro had a negative return on equity of 1.17% and a negative net margin of 0.55%.The business had revenue of $415.94 million for the quarter, compared to the consensus estimate of $371.95 million. As a group, sell-side analysts forecast that Adecoagro S.A. will post 1.24 earnings per share for the current fiscal year.
Institutional Trading of Adecoagro
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC purchased a new stake in shares of Adecoagro in the fourth quarter worth approximately $147,000. Tudor Investment Corp ET AL lifted its holdings in shares of Adecoagro by 134.0% in the fourth quarter. Tudor Investment Corp ET AL now owns 88,132 shares of the company’s stock valued at $699,000 after purchasing an additional 50,464 shares in the last quarter. Polymer Capital Management US LLC purchased a new position in shares of Adecoagro during the fourth quarter valued at approximately $939,000. Quadrature Capital Ltd bought a new stake in Adecoagro during the fourth quarter worth $123,000. Finally, Millennium Management LLC raised its position in Adecoagro by 240.9% in the 4th quarter. Millennium Management LLC now owns 276,376 shares of the company’s stock valued at $2,192,000 after buying an additional 195,308 shares during the last quarter. 45.25% of the stock is owned by institutional investors.
Adecoagro Company Profile
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.
See Also
Receive News & Ratings for Adecoagro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Adecoagro and related companies with MarketBeat.com's FREE daily email newsletter.
