Ping Capital Management Inc. Sells 6,500 Shares of Adecoagro S.A. $AGRO

Ping Capital Management Inc. lessened its holdings in shares of Adecoagro S.A. (NYSE:AGRO) by 6.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,000 shares of the company’s stock after selling 6,500 shares during the quarter. Ping Capital Management Inc. owned 0.10% of Adecoagro worth $887,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Insigneo Advisory Services LLC bought a new stake in shares of Adecoagro in the 1st quarter worth $1,056,000. Helikon Investments Ltd grew its stake in shares of Adecoagro by 72.5% in the 1st quarter. Helikon Investments Ltd now owns 12,037,204 shares of the company’s stock worth $134,456,000 after acquiring an additional 5,060,347 shares in the last quarter. Tabor Asset Management LP bought a new stake in shares of Adecoagro in the 1st quarter worth $328,000. Amundi grew its stake in shares of Adecoagro by 5.1% in the 1st quarter. Amundi now owns 730,766 shares of the company’s stock worth $8,177,000 after acquiring an additional 35,530 shares in the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in shares of Adecoagro in the 1st quarter worth $1,907,000. Institutional investors own 45.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on AGRO shares. Wall Street Zen lowered shares of Adecoagro from a “hold” rating to a “sell” rating in a research note on Sunday, September 7th. Morgan Stanley reduced their target price on shares of Adecoagro from $10.00 to $9.50 and set an “underweight” rating for the company in a research note on Wednesday, July 16th. Finally, UBS Group reduced their target price on shares of Adecoagro from $9.90 to $8.50 and set a “neutral” rating for the company in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Sell” and an average target price of $9.60.

Adecoagro Price Performance

AGRO opened at $7.76 on Friday. The firm has a market cap of $775.42 million, a P/E ratio of 22.16 and a beta of 0.60. The firm has a 50-day moving average of $8.53 and a 200 day moving average of $9.39. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.95 and a current ratio of 1.90. Adecoagro S.A. has a fifty-two week low of $7.64 and a fifty-two week high of $11.86.

Adecoagro (NYSE:AGRO) last posted its quarterly earnings results on Monday, August 18th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.40). The company had revenue of $405.66 million for the quarter, compared to the consensus estimate of $402.00 million. Adecoagro had a net margin of 2.30% and a return on equity of 3.24%. On average, research analysts expect that Adecoagro S.A. will post 1.24 EPS for the current year.

Adecoagro Profile

Adecoagro SA operates as an agro-industrial company in South America. The company mainly operates through three segments: Farming; Sugar, Ethanol and Energy; and Land Transformation. It engages in farming crops, rice and other agricultural products, dairy operations, and land transformation activities, as well as sugar, ethanol, and energy production activities.