Mission Produce (NASDAQ:AVO) Reaches New 12-Month Low at $8.79

Mission Produce, Inc. (NASDAQ:AVO) reached a new 52-week low on Monday . The stock traded as low as $8.79 and last traded at $8.98, with a volume of 477724 shares. The stock had previously closed at $9.06.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. upped their price objective on shares of Mission Produce from $11.00 to $12.00 in a research report on Friday, June 9th.

Mission Produce Trading Down 0.9 %

The firm has a market cap of $635.69 million, a P/E ratio of -17.33, a price-to-earnings-growth ratio of 0.77 and a beta of 0.54. The company’s fifty day moving average price is $10.95 and its two-hundred day moving average price is $11.36. The company has a current ratio of 2.28, a quick ratio of 1.36 and a debt-to-equity ratio of 0.37.

Mission Produce (NASDAQ:AVO) last announced its earnings results on Thursday, June 8th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. Mission Produce had a positive return on equity of 3.82% and a negative net margin of 3.75%. The company had revenue of $221.10 million for the quarter, compared to analysts’ expectations of $218.11 million. During the same quarter in the prior year, the business earned $0.03 earnings per share. The business’s revenue for the quarter was down 20.5% on a year-over-year basis. As a group, sell-side analysts predict that Mission Produce, Inc. will post 0.44 EPS for the current fiscal year.

Insider Activity

In other Mission Produce news, Director Luis A. Gonzalez sold 20,000 shares of the business’s stock in a transaction dated Thursday, July 6th. The stock was sold at an average price of $12.16, for a total transaction of $243,200.00. Following the completion of the sale, the director now directly owns 345,000 shares of the company’s stock, valued at approximately $4,195,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Luis A. Gonzalez sold 100,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $12.00, for a total value of $1,200,000.00. Following the sale, the director now directly owns 8,305,160 shares in the company, valued at approximately $99,661,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Luis A. Gonzalez sold 20,000 shares of Mission Produce stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $12.16, for a total transaction of $243,200.00. Following the transaction, the director now directly owns 345,000 shares in the company, valued at approximately $4,195,200. The disclosure for this sale can be found here. In the last ninety days, insiders sold 122,000 shares of company stock valued at $1,467,040. Company insiders own 41.79% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lazard Asset Management LLC boosted its holdings in shares of Mission Produce by 49.2% in the first quarter. Lazard Asset Management LLC now owns 2,450 shares of the company’s stock valued at $30,000 after buying an additional 808 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Mission Produce by 38.4% in the third quarter. Public Employees Retirement System of Ohio now owns 2,267 shares of the company’s stock valued at $33,000 after acquiring an additional 629 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Mission Produce by 3,991.7% in the first quarter. PNC Financial Services Group Inc. now owns 3,437 shares of the company’s stock valued at $43,000 after purchasing an additional 3,353 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Mission Produce by 37.7% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,004 shares of the company’s stock worth $49,000 after purchasing an additional 1,096 shares during the last quarter. Finally, Penserra Capital Management LLC raised its position in Mission Produce by 73.9% during the first quarter. Penserra Capital Management LLC now owns 6,530 shares of the company’s stock worth $82,000 after acquiring an additional 2,776 shares in the last quarter. 27.88% of the stock is currently owned by institutional investors.

About Mission Produce

Mission Produce, Inc engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.