Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) Stock Price Down 3.9% - Here's Why

Key Points

• Cresud S.A.C.I.F. y A. shares experienced a 3.9% decline on Thursday, closing at $8.79 after trading as low as $8.82.
• Wall Street analysts have downgraded Cresud from a "buy" to a "hold" rating, indicating a shift in market sentiment regarding the stock.
• Institutional investors have made notable changes in their positions, with some firms like Bank of America increasing their stake by 464.8% in the last year.

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY - Get Free Report)'s stock price was down 3.9% on Thursday . The stock traded as low as $8.82 and last traded at $8.79. Approximately 228,973 shares traded hands during mid-day trading, an increase of 1% from the average daily volume of 227,689 shares. The stock had previously closed at $9.14.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Cresud S.A.C.I.F. y A. from a "buy" rating to a "hold" rating in a report on Monday, September 15th.

Cresud S.A.C.I.F. y A. Stock Performance

The firm has a 50-day moving average price of $10.41 and a 200 day moving average price of $10.88. The firm has a market capitalization of $585.85 million, a PE ratio of 7.70 and a beta of 1.10. The company has a quick ratio of 0.93, a current ratio of 1.24 and a debt-to-equity ratio of 0.36.

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY - Get Free Report) last released its quarterly earnings results on Thursday, September 4th. The company reported $1.00 EPS for the quarter. Cresud S.A.C.I.F. y A. had a return on equity of 4.65% and a net margin of 10.57%.The business had revenue of $198.10 million during the quarter.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in Cresud S.A.C.I.F. y A. by 942.7% in the first quarter. GAMMA Investing LLC now owns 67,272 shares of the company's stock valued at $743,000 after purchasing an additional 60,820 shares during the period. Systrade AG boosted its holdings in Cresud S.A.C.I.F. y A. by 19.6% in the first quarter. Systrade AG now owns 174,912 shares of the company's stock valued at $1,933,000 after purchasing an additional 28,631 shares during the period. GMT Capital Corp purchased a new position in Cresud S.A.C.I.F. y A. in the first quarter valued at $11,342,000. Crocodile Capital Partners GmbH boosted its holdings in Cresud S.A.C.I.F. y A. by 78.2% in the second quarter. Crocodile Capital Partners GmbH now owns 142,563 shares of the company's stock valued at $1,534,000 after purchasing an additional 62,563 shares during the period. Finally, Cubist Systematic Strategies LLC purchased a new stake in Cresud S.A.C.I.F. y A. during the 1st quarter worth about $333,000. 12.90% of the stock is currently owned by hedge funds and other institutional investors.

Cresud S.A.C.I.F. y A. Company Profile

Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria, an agricultural company, engages in the production of agricultural commodities in Brazil and other Latin American countries. The company operates through Agricultural Business, and Business Urban Properties and Investments segments.