Bunge Global SA (NYSE:BG) Short Interest Up 45.2% in August

Key Points

• Bunge Global SA experienced a 45.2% increase in short interest in August, with total short interest reaching approximately 5.65 million shares.
• Analyst ratings for Bunge Global indicate a consensus rating of "Moderate Buy", with a price target average of $85.33.
• Director Christopher Mahoney purchased 5,000 shares at an average price of $81.73, significantly increasing his ownership stake by over 231%.

Bunge Global SA (NYSE:BG - Get Free Report) was the recipient of a significant growth in short interest in August. As of August 15th, there was short interest totaling 5,650,000 shares, agrowthof45.2% from the July 31st total of 3,890,000 shares. Based on an average daily volume of 1,980,000 shares, the days-to-cover ratio is presently 2.9 days. Based on an average daily volume of 1,980,000 shares, the days-to-cover ratio is presently 2.9 days.

Analyst Ratings Changes

BG has been the subject of several analyst reports. Morgan Stanley upped their price target on Bunge Global from $74.00 to $83.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 12th. JPMorgan Chase & Co. assumed coverage on Bunge Global in a report on Wednesday, August 20th. They issued an "overweight" rating and a $95.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.33.

Insiders Place Their Bets

In other news, Director Christopher Mahoney acquired 5,000 shares of Bunge Global stock in a transaction on Monday, August 18th. The stock was bought at an average price of $81.73 per share, for a total transaction of $408,650.00. Following the completion of the purchase, the director owned 7,164 shares in the company, valued at $585,513.72. This represents a 231.05% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.80% of the company's stock.

Hedge Funds Weigh In On Bunge Global

Several large investors have recently added to or reduced their stakes in the business. Osaic Holdings Inc. lifted its position in Bunge Global by 5.0% during the second quarter. Osaic Holdings Inc. now owns 12,723 shares of the basic materials company's stock worth $1,018,000 after buying an additional 603 shares during the period. Orion Porfolio Solutions LLC lifted its position in Bunge Global by 37.8% during the second quarter. Orion Porfolio Solutions LLC now owns 10,619 shares of the basic materials company's stock worth $853,000 after buying an additional 2,915 shares during the period. Marex Group plc purchased a new position in Bunge Global during the second quarter worth about $427,000. CYBER HORNET ETFs LLC purchased a new position in Bunge Global during the second quarter worth about $31,000. Finally, Evergreen Capital Management LLC lifted its position in Bunge Global by 2.1% during the second quarter. Evergreen Capital Management LLC now owns 55,142 shares of the basic materials company's stock worth $4,427,000 after buying an additional 1,139 shares during the period. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Price Performance

Shares of BG traded up $3.19 during trading hours on Friday, reaching $84.32. 1,981,853 shares of the company traded hands, compared to its average volume of 1,903,514. The company has a quick ratio of 1.29, a current ratio of 2.07 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $16.87 billion, a PE ratio of 8.42, a price-to-earnings-growth ratio of 6.29 and a beta of 0.67. Bunge Global has a fifty-two week low of $67.40 and a fifty-two week high of $100.48. The stock has a fifty day simple moving average of $79.92 and a 200 day simple moving average of $78.16.

Bunge Global (NYSE:BG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $1.31 EPS for the quarter, beating analysts' consensus estimates of $1.19 by $0.12. The business had revenue of $12.77 billion for the quarter, compared to analyst estimates of $12.57 billion. Bunge Global had a return on equity of 9.16% and a net margin of 2.71%.The business's revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.73 earnings per share. Bunge Global has set its FY 2025 guidance at 7.750-7.750 EPS. As a group, research analysts predict that Bunge Global will post 7.94 EPS for the current fiscal year.

Bunge Global Company Profile

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.

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