AGI (NYSE:AGBK) Shares Climb 6.6% – Time to Buy?

AGI Inc (NYSE:AGBK) was up 6.6% on Tuesday. The stock traded as high as $5.20 and last traded at $5.0410. 127,804 shares were traded during mid-day trading, a decline of 72% from the average session volume of 448,533 shares. The stock had previously closed at $4.73.

Analysts Set New Price Targets

AGBK has been the topic of several recent analyst reports. Oppenheimer cut their price objective on shares of AGI from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of AGI in a research note on Friday, August 7th. The Goldman Sachs Group set a $13.00 target price on shares of AGI in a research report on Thursday, August 6th. Finally, Zacks Research lowered shares of AGI from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, AGI has a consensus rating of “Hold” and an average price target of $14.14.

AGI Price Performance

The company has a quick ratio of 1.51, a current ratio of 1.51 and a debt-to-equity ratio of 0.31. The stock’s 50-day simple moving average is $6.46 and its two-hundred day simple moving average is $7.43. The company has a market capitalization of $786.86 million and a price-to-earnings ratio of 8.34.

Insider Buying and Selling at AGI

In related news, CTO Vinicius Birkeland Aloe sold 256,386 shares of the company’s stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $11.99, for a total transaction of $3,074,068.14. Following the completion of the transaction, the chief technology officer owned 176,423 shares in the company, valued at $2,115,311.77. This represents a 59.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

About AGI

Our mission is to revolutionize financial services for the largest and fastest growing segment of Brazil’s population: individuals who have been underserved by incumbent banks and have not been effectively reached by digital-only banks. We seek to make credit and banking solutions more accessible and affordable for the Brazilian consumers who we believe need it the most, including social security beneficiaries and private and public sector workers. We have designed a unique value proposition for this population, who may be older, have a lower income, be less tech-savvy or have less access to education.