Mission Produce (NASDAQ:AVO) Trading 5.9% Higher on Insider Buying Activity

Mission Produce, Inc. (NASDAQ:AVO)’s share price traded up 5.9% on Wednesday following insider buying activity. The company traded as high as $12.85 and last traded at $12.8750. 838,099 shares changed hands 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.

Specifically, major shareholder Holdings Venture Globalharvest acquired 3,695 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were acquired at an average price of $11.94 per share, with a total value of $44,118.30. Following the completion of the purchase, the insider directly owned 9,991,577 shares of the company’s stock, valued at approximately $119,299,429.38. The trade was a 0.04% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Analyst Ratings Changes

AVO has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mission Produce in a research note on Wednesday, January 21st. Lake Street Capital restated a “buy” rating on shares of Mission Produce in a research note on Thursday, January 15th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.00.

Mission Produce Stock Up 0.4%

The company’s 50-day moving average is $13.48 and its 200 day moving average is $12.57. The company has a market capitalization of $888.46 million, a PE ratio of 27.26 and a beta of 0.60. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.19 and a current ratio of 1.86.

Mission Produce (NASDAQ:AVO) last released its quarterly earnings data 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 business had revenue of $278.60 million during the quarter, compared to analyst estimates of $277.33 million. Mission Produce had a net margin of 2.48% and a return on equity of 8.24%. Mission Produce’s revenue was down 26.1% compared to the same quarter last year. During the same period last year, the business earned $0.10 EPS. As a group, analysts anticipate that Mission Produce, Inc. will post 0.34 EPS for the current year.

Institutional Investors Weigh In On Mission Produce

Several institutional investors and hedge funds have recently made changes to their positions in AVO. Quarry LP purchased a new position in Mission Produce in the 3rd quarter worth approximately $29,000. GAMMA Investing LLC boosted its stake in Mission Produce by 673.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,453 shares of the company’s stock valued at $29,000 after purchasing an additional 2,136 shares during the last quarter. Leonteq Securities AG bought a new stake in shares of Mission Produce in the 4th quarter worth $31,000. State of Alaska Department of Revenue bought a new stake in shares of Mission Produce in the 3rd quarter worth $33,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Mission Produce by 211.8% in the second quarter. Tower Research Capital LLC TRC now owns 4,649 shares of the company’s stock worth $54,000 after purchasing an additional 3,158 shares during the last quarter. Institutional investors own 63.57% of the company’s stock.

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.