Quantbot Technologies LP Purchases New Position in Mission Produce, Inc. (NASDAQ:AVO)

Quantbot Technologies LP acquired a new position in shares of Mission Produce, Inc. (NASDAQ:AVO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 5,893 shares of the company’s stock, valued at approximately $76,000.

Several other institutional investors have also modified their holdings of AVO. The Manufacturers Life Insurance Company raised its stake in Mission Produce by 8.0% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 66,303 shares of the company’s stock worth $850,000 after acquiring an additional 4,894 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of Mission Produce by 10.9% during the third quarter. Dynamic Technology Lab Private Ltd now owns 81,814 shares of the company’s stock worth $1,049,000 after purchasing an additional 8,058 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Mission Produce during the third quarter worth about $153,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Mission Produce in the 3rd quarter valued at about $1,295,000. Finally, Atria Investments Inc acquired a new stake in shares of Mission Produce in the 3rd quarter valued at about $424,000. Hedge funds and other institutional investors own 63.57% of the company’s stock.

Wall Street Analyst Weigh In

AVO has been the topic of several research analyst reports. Lake Street Capital reaffirmed a “buy” rating and set a $15.00 price target on shares of Mission Produce in a research report on Tuesday, September 10th. Roth Mkm upped their price target on shares of Mission Produce from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, September 11th.

Insider Buying and Selling at Mission Produce

In related news, Director Luis A. Gonzalez sold 51,615 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $13.28, for a total value of $685,447.20. Following the sale, the director now owns 7,219,614 shares of the company’s stock, valued at approximately $95,876,473.92. This represents a 0.71 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Taylor Family Investments, Llc sold 100,100 shares of the firm’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $13.25, for a total value of $1,326,325.00. Following the transaction, the director now directly owns 8,630,002 shares of the company’s stock, valued at $114,347,526.50. The trade was a 1.15 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 296,059 shares of company stock valued at $3,920,360. Insiders own 41.60% of the company’s stock.

Mission Produce Stock Up 0.5 %

AVO stock opened at $12.67 on Friday. The stock has a market capitalization of $898.44 million, a PE ratio of 38.45 and a beta of 0.54. The company has a fifty day moving average of $12.70 and a 200-day moving average of $11.60. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.40 and a current ratio of 2.02. Mission Produce, Inc. has a one year low of $8.76 and a one year high of $14.17.

Mission Produce (NASDAQ:AVO) last released its quarterly earnings data on Monday, September 9th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.23. Mission Produce had a return on equity of 6.69% and a net margin of 2.06%. The firm had revenue of $324.00 million during the quarter, compared to analysts’ expectations of $229.90 million. As a group, analysts expect that Mission Produce, Inc. will post 0.39 EPS for the current year.

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.