Mission Produce (NASDAQ:AVO) Trading Down 5.3% – What’s Next?

Shares of Mission Produce, Inc. (NASDAQ:AVO) fell 5.3% on Monday . The company traded as low as $13.35 and last traded at $13.35. 174,338 shares were traded during trading, a decline of 58% from the average session volume of 416,175 shares. The stock had previously closed at $14.10.

Wall Street Analyst Weigh In

AVO has been the subject of a number of research analyst reports. Roth Mkm raised their target price on Mission Produce from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Lake Street Capital reaffirmed a “buy” rating and issued a $15.00 target price on shares of Mission Produce in a research report on Tuesday, September 10th.

Mission Produce Stock Down 6.4 %

The firm has a market cap of $936.08 million, a PE ratio of 40.00 and a beta of 0.50. The stock has a 50 day simple moving average of $13.29 and a 200-day simple moving average of $11.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.02 and a quick ratio of 1.40.

Insider Transactions at Mission Produce

In other Mission Produce news, Director Luis A. Gonzalez sold 20,000 shares of the business’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $14.18, for a total value of $283,600.00. Following the completion of the transaction, the director now owns 275,000 shares of the company’s stock, valued at approximately $3,899,500. The trade was a 6.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Bryan E. Giles sold 15,000 shares of the firm’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $14.40, for a total transaction of $216,000.00. Following the sale, the chief financial officer now directly owns 122,137 shares in the company, valued at approximately $1,758,772.80. The trade was a 10.94 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 223,322 shares of company stock worth $3,245,105. Corporate insiders own 41.60% of the company’s stock.

Hedge Funds Weigh In On Mission Produce

A number of institutional investors and hedge funds have recently modified their holdings of the company. Creative Planning lifted its holdings in Mission Produce by 8.3% in the third quarter. Creative Planning now owns 11,226 shares of the company’s stock valued at $144,000 after acquiring an additional 858 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Mission Produce by 22.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,498 shares of the company’s stock valued at $123,000 after buying an additional 2,332 shares during the last quarter. XTX Topco Ltd increased its holdings in Mission Produce by 18.7% during the second quarter. XTX Topco Ltd now owns 19,179 shares of the company’s stock valued at $189,000 after buying an additional 3,025 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. raised its position in Mission Produce by 46.8% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 10,845 shares of the company’s stock worth $139,000 after acquiring an additional 3,455 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Mission Produce by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 161,591 shares of the company’s stock worth $1,597,000 after acquiring an additional 4,160 shares during the last quarter. 63.57% of the stock is currently owned by hedge funds and other 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.