Mission Produce (NASDAQ:AVO) Trading Down 2.3% Following Insider Selling

Mission Produce, Inc. (NASDAQ:AVO) dropped 2.3% during trading on Friday following insider selling activity. The stock traded as low as $12.91 and last traded at $12.94. Approximately 284,366 shares changed hands during trading, an increase of 37% from the average daily volume of 207,311 shares. The stock had previously closed at $13.25.

Specifically, Director Luis A. Gonzalez sold 51,615 shares of Mission Produce stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $13.28, for a total transaction of $685,447.20. Following the transaction, the director now directly owns 7,219,614 shares of the company’s stock, valued at $95,876,473.92. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Luis A. Gonzalez sold 49,331 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $13.03, for a total value of $642,782.93. Following the sale, the director now owns 7,398,902 shares of the company’s stock, valued at approximately $96,407,693.06. The disclosure for this sale can be found here.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Lake Street Capital reissued a “buy” rating and issued a $15.00 price target on shares of Mission Produce in a research report on Tuesday. Roth Mkm lifted their target price on Mission Produce from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday.

Mission Produce Trading Down 0.5 %

The company’s 50 day simple moving average is $10.75 and its two-hundred day simple moving average is $11.13. The company has a quick ratio of 1.49, a current ratio of 2.02 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $934.59 million, a price-to-earnings ratio of 52.72 and a beta of 0.47.

Institutional Trading of Mission Produce

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Quadrant Capital Group LLC raised its position in shares of Mission Produce by 68.5% in the 4th quarter. Quadrant Capital Group LLC now owns 3,877 shares of the company’s stock valued at $39,000 after purchasing an additional 1,576 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Mission Produce by 245.2% in the first quarter. Lazard Asset Management LLC now owns 4,381 shares of the company’s stock worth $52,000 after buying an additional 3,112 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Mission Produce during the second quarter worth $53,000. Point72 DIFC Ltd purchased a new stake in shares of Mission Produce during the second quarter valued at $53,000. Finally, nVerses Capital LLC acquired a new position in shares of Mission Produce in the 2nd quarter valued at $67,000. Hedge funds and other institutional investors own 63.57% of the company’s stock.

About Mission Produce

Mission Produce, Inc engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.