Mission Produce (NASDAQ:AVO) Shares Up 5.9% – What’s Next?

Mission Produce, Inc. (NASDAQ:AVO)’s share price shot up 5.9% on Wednesday . The stock traded as high as $12.85 and last traded at $12.8750. 838,099 shares were traded during mid-day trading, an increase of 3% from the average session volume of 815,448 shares. The stock had previously closed at $12.16.

Wall Street Analysts Forecast Growth

AVO has been the topic of several research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Mission Produce in a report on Wednesday, January 21st. Lake Street Capital reaffirmed a “buy” rating on shares of Mission Produce in a research report on Thursday, January 15th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Mission Produce Trading Up 4.9%

The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.19 and a current ratio of 1.86. The company’s 50-day moving average price is $13.46 and its 200-day moving average price is $12.57. The firm has a market capitalization of $904.07 million, a PE ratio of 27.84 and a beta of 0.60.

Mission Produce (NASDAQ:AVO) last posted its quarterly earnings results on Thursday, March 12th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The company had revenue of $278.60 million for the quarter, compared to analysts’ expectations of $277.33 million. Mission Produce had a return on equity of 8.24% and a net margin of 2.48%.Mission Produce’s quarterly revenue was down 26.1% on a year-over-year basis. During the same period last year, the firm earned $0.10 earnings per share. On average, sell-side analysts expect that Mission Produce, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling at Mission Produce

In related news, major shareholder Holdings Venture Globalharvest bought 985,704 shares of the company’s stock in a transaction dated Thursday, January 15th. The shares were acquired at an average price of $11.76 per share, with a total value of $11,591,879.04. Following the completion of the acquisition, the insider owned 8,837,286 shares in the company, valued at approximately $103,926,483.36. This trade represents a 12.55% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last quarter, insiders purchased 2,141,484 shares of company stock valued at $25,996,353. Company insiders own 30.85% of the company’s stock.

Institutional Trading of Mission Produce

A number of institutional investors have recently modified their holdings of AVO. Wedge Capital Management L L P NC raised its position in Mission Produce by 1.0% in the fourth quarter. Wedge Capital Management L L P NC now owns 100,025 shares of the company’s stock worth $1,160,000 after acquiring an additional 958 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Mission Produce by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,825 shares of the company’s stock worth $271,000 after acquiring an additional 1,092 shares during the last quarter. AlphaQuest LLC boosted its position in shares of Mission Produce by 33.7% in the third quarter. AlphaQuest LLC now owns 4,662 shares of the company’s stock worth $56,000 after acquiring an additional 1,174 shares during the last quarter. Magnetar Financial LLC grew its holdings in Mission Produce by 12.6% in the third quarter. Magnetar Financial LLC now owns 12,106 shares of the company’s stock valued at $146,000 after purchasing an additional 1,351 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its position in Mission Produce by 12.2% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 15,375 shares of the company’s stock worth $185,000 after purchasing an additional 1,667 shares during the last quarter. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

Mission Produce Company Profile

Mission Produce, Inc is a leading global supplier, packer and distributor of fresh avocados, serving retail, foodservice and industrial customers. The company manages a vertically integrated supply chain that spans sourcing, post-harvest handling, packing and ripening. Through proprietary ripening technologies and cold-chain logistics, Mission Produce delivers consistent quality and extended shelf life for its avocado offerings.

Founded in 1983 and headquartered in Oxnard, California, Mission Produce grew from a regional packing operation into a publicly traded company listed on the Nasdaq under the ticker AVO.