Mission Produce, Inc. (NASDAQ:AVO) Short Interest Down 10.8% in May

Mission Produce, Inc. (NASDAQ:AVO) saw a significant decrease in short interest during the month of May. As of May 31st, there was short interest totalling 1,160,000 shares, a decrease of 10.8% from the May 15th total of 1,300,000 shares. Based on an average daily volume of 218,300 shares, the short-interest ratio is currently 5.3 days. Approximately 2.7% of the company’s stock are sold short.

Analyst Ratings Changes

Separately, Lake Street Capital initiated coverage on shares of Mission Produce in a research note on Friday, May 17th. They set a “buy” rating and a $15.00 price objective for the company.

Mission Produce Trading Up 0.2 %

AVO stock traded up $0.02 during mid-day trading on Monday, reaching $10.28. 87,252 shares of the stock traded hands, compared to its average volume of 193,312. Mission Produce has a 52-week low of $8.19 and a 52-week high of $13.00. The stock’s fifty day moving average is $11.70 and its 200-day moving average is $10.88. The company has a market cap of $728.95 million, a P/E ratio of 41.04 and a beta of 0.51. The company has a current ratio of 2.27, a quick ratio of 1.49 and a debt-to-equity ratio of 0.35.

Mission Produce (NASDAQ:AVO) last announced its earnings results on Thursday, June 6th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.13. The company had revenue of $297.60 million for the quarter, compared to the consensus estimate of $226.70 million. Mission Produce had a net margin of 1.64% and a return on equity of 5.64%. As a group, sell-side analysts expect that Mission Produce will post 0.28 earnings per share for the current year.

Insider Buying and Selling at Mission Produce

In related news, Director Luis A. Gonzalez sold 6,869 shares of Mission Produce stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $12.01, for a total value of $82,496.69. Following the transaction, the director now directly owns 7,767,038 shares in the company, valued at approximately $93,282,126.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Mission Produce news, Director Luis A. Gonzalez sold 31,157 shares of the firm’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $11.22, for a total transaction of $349,581.54. Following the completion of the transaction, the director now owns 7,466,920 shares of the company’s stock, valued at $83,778,842.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Luis A. Gonzalez sold 6,869 shares of the company’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $12.01, for a total value of $82,496.69. Following the completion of the sale, the director now owns 7,767,038 shares in the company, valued at $93,282,126.38. The disclosure for this sale can be found here. Insiders have sold 252,862 shares of company stock worth $2,929,046 over the last three months. Insiders own 41.60% of the company’s stock.

Hedge Funds Weigh In On Mission Produce

Several large investors have recently made changes to their positions in the company. SG Capital Management LLC acquired a new stake in Mission Produce in the 1st quarter valued at $1,331,000. Price T Rowe Associates Inc. MD grew its stake in Mission Produce by 15.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,932 shares of the company’s stock valued at $166,000 after buying an additional 1,870 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Mission Produce by 245.2% during the first quarter. Lazard Asset Management LLC now owns 4,381 shares of the company’s stock worth $52,000 after purchasing an additional 3,112 shares during the period. PEAK6 Investments LLC acquired a new stake in shares of Mission Produce during the first quarter worth $132,000. Finally, Advisors Asset Management Inc. bought a new position in shares of Mission Produce in the first quarter worth $212,000. Institutional investors and hedge funds own 63.57% of the company’s stock.

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.