BidaskClub upgraded shares of Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) from a strong sell rating to a sell rating in a research note released on Saturday morning.

Shares of NASDAQ:CRESY opened at $12.72 on Friday. Cresud S.A.C.I.F. y A. has a 12-month low of $10.74 and a 12-month high of $23.69. The company has a quick ratio of 1.68, a current ratio of 1.80 and a debt-to-equity ratio of 2.49.

Several large investors have recently made changes to their positions in CRESY. Newfoundland Capital Management boosted its position in shares of Cresud S.A.C.I.F. y A. by 14.8% in the 2nd quarter. Newfoundland Capital Management now owns 4,560,616 shares of the company’s stock worth $67,589,000 after purchasing an additional 588,091 shares in the last quarter. Serengeti Asset Management LP boosted its position in shares of Cresud S.A.C.I.F. y A. by 160.0% in the 3rd quarter. Serengeti Asset Management LP now owns 650,000 shares of the company’s stock worth $9,204,000 after purchasing an additional 400,000 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Cresud S.A.C.I.F. y A. in the 2nd quarter worth $1,992,000. City of London Investment Management Co. Ltd. acquired a new stake in shares of Cresud S.A.C.I.F. y A. in the 2nd quarter worth $918,000. Finally, Russell Investments Group Ltd. boosted its position in shares of Cresud S.A.C.I.F. y A. by 9.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 705,285 shares of the company’s stock worth $10,524,000 after purchasing an additional 61,568 shares in the last quarter. Institutional investors and hedge funds own 26.05% of the company’s stock.

About Cresud S.A.C.I.F. y A.

Cresud Sociedad AnĂ³nima Comercial, Inmobiliaria, Financiera y Agropecuaria, an agricultural company, produces basic agricultural commodities in Brazil and other Latin American countries. The Agricultural business is involved in planting, harvesting, and sale of crops, such as wheat, corn, soybean, cotton, and sunflower, as well as sugarcane; breeding, purchasing, and fattening of beef cattle for sale to meat processors and local livestock auction markets; producing raw milk for sale to local milk and milk-related products producers; the leasing of farms to third parties; the disposal and development of farmlands activities; and feedlot farming, as well as meat slaughtering and processing activities.

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