AGI (NYSE:AGBK) Stock Price Down 6.4% – Time to Sell?

AGI Inc (NYSE:AGBK) was down 6.4% during trading on Tuesday. The company traded as low as $4.79 and last traded at $4.8690. 424,256 shares traded hands during mid-day trading, a decline of 6% from the average daily volume of 452,339 shares. The stock had previously closed at $5.20.

Analysts Set New Price Targets

Several research firms have recently commented on AGBK. Zacks Research lowered shares of AGI from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. The Goldman Sachs Group set a $13.00 target price on AGI in a research report on Thursday, August 6th. Oppenheimer decreased their price target on AGI from $10.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, August 7th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of AGI in a research report on Friday, August 7th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $14.14.

AGI Price Performance

The company has a market capitalization of $780.46 million and a PE ratio of 8.27. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31. The company’s 50 day moving average price is $6.33 and its 200-day moving average price is $7.35.

AGI declared that its board has approved a stock buyback plan on Tuesday, October 27th that allows the company to buy back 3,000,000 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other news, CTO Vinicius Birkeland Aloe sold 256,386 shares of the firm’s stock in a transaction on Monday, August 31st. The shares were sold at an average price of $11.99, for a total value of $3,074,068.14. Following the transaction, the chief technology officer owned 176,423 shares of the company’s stock, valued at approximately $2,115,311.77. This trade represents a 59.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

AGI Company Profile

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.