Mission Produce (NASDAQ:AVO) Stock Price Down 5.3% – Here’s What Happened

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

Analysts Set New Price Targets

A number of research firms recently weighed in on AVO. Roth Mkm increased their price objective on shares of Mission Produce from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Lake Street Capital reaffirmed a “buy” rating and issued a $15.00 price target on shares of Mission Produce in a research report on Tuesday, September 10th.

Mission Produce Price Performance

The company has a current ratio of 2.02, a quick ratio of 1.40 and a debt-to-equity ratio of 0.28. The stock’s fifty day moving average price is $13.34 and its two-hundred day moving average price is $11.99. The firm has a market capitalization of $885.02 million, a price-to-earnings ratio of 37.82 and a beta of 0.50.

Insider Buying and Selling at Mission Produce

In other news, CEO Stephen J. Barnard sold 7,032 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $14.51, for a total transaction of $102,034.32. Following the completion of the sale, the chief executive officer now owns 1,787,450 shares in the company, valued at approximately $25,935,899.50. The trade was a 0.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Luis A. Gonzalez sold 20,000 shares of the company’s stock in a transaction on Friday, December 27th. The shares were sold at an average price of $14.18, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 223,322 shares of company stock worth $3,245,105 over the last ninety days. Corporate insiders own 41.60% of the company’s stock.

Hedge Funds Weigh In On Mission Produce

Several hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in Mission Produce by 25.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,327,266 shares of the company’s stock valued at $13,113,000 after purchasing an additional 266,489 shares during the last quarter. Walleye Capital LLC purchased a new stake in shares of Mission Produce in the third quarter valued at about $1,939,000. Marshall Wace LLP boosted its stake in shares of Mission Produce by 202.1% during the second quarter. Marshall Wace LLP now owns 215,047 shares of the company’s stock worth $2,125,000 after buying an additional 143,858 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Mission Produce during the third quarter worth about $1,295,000. Finally, Jane Street Group LLC increased its position in Mission Produce by 171.9% in the 3rd quarter. Jane Street Group LLC now owns 158,257 shares of the company’s stock valued at $2,029,000 after acquiring an additional 100,055 shares during the period. Hedge funds and other institutional investors own 63.57% of the company’s stock.

Mission Produce Company Profile

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.