AGI (NYSE:AGBK) Sets New 52-Week Low – Here’s Why

Shares of AGI Inc (NYSE:AGBK) hit a new 52-week low on Tuesday. The stock traded as low as $5.70 and last traded at $5.7740, with a volume of 131391 shares trading hands. The stock had previously closed at $5.89.

Analysts Set New Price Targets

AGBK has been the topic of several analyst reports. Oppenheimer dropped their price target on shares of AGI from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, August 7th. Zacks Research cut shares of AGI from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 16th. The Goldman Sachs Group set a $13.00 target price on AGI in a research note on Thursday, August 6th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of AGI in a research note on Friday, August 7th. 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $14.14.

AGI Stock Performance

The company has a 50-day moving average of $6.40 and a 200-day moving average of $7.00. The firm has a market capitalization of $920.40 million and a price-to-earnings ratio of 9.75. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31.

Insider Buying and Selling at AGI

In other AGI news, CTO Vinicius Birkeland Aloe sold 256,386 shares of the stock in a transaction on Monday, August 31st. The shares were sold at an average price of $11.99, for a total transaction of $3,074,068.14. Following the sale, the chief technology officer directly owned 176,423 shares of the company’s stock, valued at approximately $2,115,311.77. This represents a 59.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

AGI Company Profile

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.