Adecoagro S.A. (NYSE:AGRO) Sees Large Decline in Short Interest

Adecoagro S.A. (NYSE:AGRO) saw a large drop in short interest in October. As of October 15th, there was short interest totalling 1,340,000 shares, a drop of 10.1% from the September 30th total of 1,490,000 shares. Based on an average trading volume of 1,060,000 shares, the short-interest ratio is presently 1.3 days. Currently, 1.5% of the company’s stock are sold short.

Institutional Trading of Adecoagro

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AGRO. Commonwealth Equity Services LLC acquired a new stake in Adecoagro during the 1st quarter valued at approximately $843,000. Jennison Associates LLC increased its position in Adecoagro by 10.5% during the 1st quarter. Jennison Associates LLC now owns 5,932,720 shares of the company’s stock valued at $65,379,000 after purchasing an additional 561,352 shares during the period. GSA Capital Partners LLP increased its position in Adecoagro by 83.1% during the 1st quarter. GSA Capital Partners LLP now owns 205,013 shares of the company’s stock valued at $2,259,000 after purchasing an additional 93,035 shares during the period. Susquehanna Fundamental Investments LLC acquired a new stake in Adecoagro during the 1st quarter valued at approximately $128,000. Finally, Sei Investments Co. increased its position in Adecoagro by 13.6% during the 1st quarter. Sei Investments Co. now owns 71,537 shares of the company’s stock valued at $788,000 after purchasing an additional 8,559 shares during the period. Institutional investors and hedge funds own 45.25% of the company’s stock.

Adecoagro Trading Down 0.8 %

AGRO stock opened at $11.57 on Wednesday. The company’s 50-day simple moving average is $11.25 and its 200 day simple moving average is $10.48. Adecoagro has a 52 week low of $8.72 and a 52 week high of $12.51. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 2.42. The company has a market capitalization of $1.20 billion, a PE ratio of 4.90, a price-to-earnings-growth ratio of 1.06 and a beta of 1.08.

Adecoagro (NYSE:AGRO) last issued its quarterly earnings data on Monday, August 12th. The company reported $1.03 earnings per share (EPS) for the quarter. The business had revenue of $411.42 million during the quarter. Adecoagro had a net margin of 16.28% and a return on equity of 14.91%. As a group, sell-side analysts anticipate that Adecoagro will post 1.68 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group assumed coverage on Adecoagro in a report on Monday, October 14th. They issued a “neutral” rating and a $12.00 price objective for the company. StockNews.com cut Adecoagro from a “buy” rating to a “hold” rating in a report on Tuesday, August 13th. Bank of America reduced their price target on Adecoagro from $15.50 to $14.50 and set a “buy” rating for the company in a report on Monday, September 9th. Finally, Morgan Stanley cut Adecoagro from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $14.50 to $12.50 in a report on Tuesday, September 17th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $12.63.

About Adecoagro

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.