Parallax Volatility Advisers L.P. Decreases Stock Position in Adecoagro S.A. (NYSE:AGRO)

Parallax Volatility Advisers L.P. trimmed its holdings in Adecoagro S.A. (NYSE:AGRO – Get Rating) by 15.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,618 shares of the company’s stock after selling 2,283 shares during the period. Parallax Volatility Advisers L.P.’s holdings in Adecoagro were worth $105,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in AGRO. PGGM Investments acquired a new position in shares of Adecoagro in the 3rd quarter valued at approximately $37,305,000. Goldman Sachs Group Inc. acquired a new position in shares of Adecoagro in the 2nd quarter valued at approximately $13,015,000. Jennison Associates LLC raised its position in shares of Adecoagro by 42.7% in the 3rd quarter. Jennison Associates LLC now owns 4,769,722 shares of the company’s stock valued at $39,541,000 after purchasing an additional 1,426,974 shares in the last quarter. Verition Fund Management LLC acquired a new stake in shares of Adecoagro during the 1st quarter valued at approximately $6,060,000. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of Adecoagro by 6.9% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 5,704,472 shares of the company’s stock valued at $47,290,000 after acquiring an additional 368,004 shares in the last quarter. 42.88% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

AGRO has been the topic of several research reports. Morgan Stanley lowered Adecoagro from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $10.00 to $9.00 in a research report on Tuesday, February 7th. JPMorgan Chase & Co. lowered Adecoagro from an “overweight” rating to a “neutral” rating and set a $9.00 price target on the stock. in a research report on Wednesday, February 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $9.50.

Adecoagro Price Performance

Shares of AGRO opened at $7.69 on Tuesday. The company has a market cap of $856.51 million, a P/E ratio of 7.85 and a beta of 1.02. The stock has a fifty day moving average price of $8.13 and a 200 day moving average price of $8.25. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.67 and a quick ratio of 0.84. Adecoagro S.A. has a 12 month low of $6.95 and a 12 month high of $13.55.

About Adecoagro

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Adecoagro SA is a holding company, which engages in the provision of agricultural and agro-industrial products and services. It operates through the following segments: Farming; Sugar, Ethanol, and Energy, Land Transformation, and Corporate. The Farming segment comprises planting, harvesting, processing, and marketing of rice; production and sale of raw milk; and other dairy products.