Global X Management Co. LLC raised its stake in shares of Adecoagro S.A. (NYSE:AGRO) by 19.7% during the second quarter, Holdings Channel reports. The firm owned 452,264 shares of the company’s stock after buying an additional 74,332 shares during the period. Global X Management Co. LLC’s holdings in Adecoagro were worth $4,518,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of AGRO. Driehaus Capital Management LLC boosted its stake in Adecoagro by 2,138.7% in the first quarter. Driehaus Capital Management LLC now owns 1,878,678 shares of the company’s stock valued at $21,530,000 after buying an additional 1,794,760 shares during the period. Morgan Stanley boosted its stake in Adecoagro by 30.7% in the first quarter. Morgan Stanley now owns 2,902,547 shares of the company’s stock valued at $33,263,000 after buying an additional 682,603 shares during the period. Barings LLC acquired a new stake in Adecoagro during the first quarter valued at approximately $7,253,000. Norges Bank acquired a new stake in Adecoagro during the fourth quarter valued at approximately $5,503,000. Finally, Renaissance Technologies LLC boosted its stake in Adecoagro by 169.7% in the first quarter. Renaissance Technologies LLC now owns 589,300 shares of the company’s stock valued at $6,753,000 after buying an additional 370,800 shares during the period. Institutional investors own 57.45% of the company’s stock.

Shares of Adecoagro S.A. (AGRO) opened at 9.93 on Friday. Adecoagro S.A. has a one year low of $9.38 and a one year high of $13.29. The stock has a market cap of $1.20 billion, a PE ratio of 206.88 and a beta of 1.09. The stock’s 50 day moving average price is $10.01 and its 200-day moving average price is $11.10.

Adecoagro (NYSE:AGRO) last issued its earnings results on Monday, May 15th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.21 by $0.17. Adecoagro had a return on equity of 0.83% and a net margin of 0.61%. The firm had revenue of $166.09 million during the quarter. On average, equities analysts predict that Adecoagro S.A. will post $0.73 earnings per share for the current fiscal year.

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Several analysts have commented on AGRO shares. Zacks Investment Research upgraded Adecoagro from a “hold” rating to a “buy” rating and set a $13.00 price target for the company in a report on Friday, April 14th. ValuEngine cut Adecoagro from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, BidaskClub cut Adecoagro from a “hold” rating to a “sell” rating in a report on Saturday, June 17th.

Adecoagro Company Profile

Adecoagro SA is a holding company. The Company is involved in a range of businesses, including farming crops and other agricultural products, dairy operations, sugar, ethanol and energy production and land transformation. The Company is organized into three main lines of business: farming; land transformation, and sugar, ethanol and energy.

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Institutional Ownership by Quarter for Adecoagro (NYSE:AGRO)

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