Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) shares moved above their 200-day moving average on Thursday, trading as high as $11.06 before last changing hands at $10.89.
• Analyst sentiment remains cautious, with Weiss Ratings reiterating a hold and Wall Street Zen downgrading the stock from buy to hold; the consensus rating is also Hold.
• Insiders have been buying shares recently, including directors Eduardo S. Elsztain and Alejandro Gustavo Elsztain, while institutional ownership stands at 12.90%.

Shares of Cresud S.A.C.I.F. y A. (NASDAQ:CRESY - Get Free Report) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $0.00 and traded as high as $11.06. Cresud S.A.C.I.F. y A. shares last traded at $10.89, with a volume of 227,958 shares.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Weiss Ratings reissued a "hold (c)" rating on shares of Cresud S.A.C.I.F. y A. in a report on Wednesday, June 24th. Wall Street Zen downgraded Cresud S.A.C.I.F. y A. from a "buy" rating to a "hold" rating in a research note on Saturday, May 23rd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of "Hold".

Cresud S.A.C.I.F. y A. Trading Down 1.4%

The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $688.03 million, a price-to-earnings ratio of 4.91 and a beta of 0.73.

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.45 earnings per share (EPS) for the quarter. Cresud S.A.C.I.F. y A. had a return on equity of 7.21% and a net margin of 17.44%.The firm had revenue of $182.78 million for the quarter.

Insider Buying and Selling at Cresud S.A.C.I.F. y A.

In other Cresud S.A.C.I.F. y A. news, Director Eduardo S. Elsztain acquired 58,595 shares of the firm's stock in a transaction that occurred on Wednesday, May 13th. The stock was purchased at an average cost of $10.57 per share, for a total transaction of $619,349.15. Following the completion of the acquisition, the director owned 9,845,278 shares of the company's stock, valued at approximately $104,064,588.46. This trade represents a 0.60% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Alejandro Gustavo Elsztain bought 18,200 shares of the firm's stock in a transaction on Friday, June 5th. The shares were bought at an average cost of $10.95 per share, with a total value of $199,290.00. Following the transaction, the director directly owned 1,225,764 shares of the company's stock, valued at approximately $13,422,115.80. This trade represents a 1.51% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last 90 days, insiders have bought 103,451 shares of company stock worth $1,112,911. 36.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of CRESY. Bank of America Corp DE raised its stake in Cresud S.A.C.I.F. y A. by 464.8% during the 4th quarter. Bank of America Corp DE now owns 8,116 shares of the company's stock valued at $103,000 after purchasing an additional 6,679 shares during the last quarter. Sei Investments Co. raised its holdings in Cresud S.A.C.I.F. y A. by 66.2% in the second quarter. Sei Investments Co. now owns 99,116 shares of the company's stock worth $1,066,000 after purchasing an additional 39,488 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Cresud S.A.C.I.F. y A. during the second quarter worth about $25,000. Virtu Financial LLC acquired a new stake in shares of Cresud S.A.C.I.F. y A. during the third quarter worth $144,000. Finally, Centiva Capital LP bought a new stake in Cresud S.A.C.I.F. y A. in the 3rd quarter valued at approximately $163,000. 12.90% of the stock is currently owned by institutional investors and hedge funds.

About Cresud S.A.C.I.F. y A.

Cresud SAC.I.F. y A. NASDAQ: CRESY is an Argentina-based company primarily engaged in agribusiness and real estate activities. Headquartered in Buenos Aires, Cresud operates through a network of subsidiaries focused on crop production, livestock breeding and sustainability initiatives. The company’s agricultural arm cultivates major row crops such as soybeans, corn and wheat, and maintains a sizeable cattle herd across its extensive landholdings.

In its farming operations, Cresud emphasizes soil management, water resource optimization and technological integration.

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