Allianz Asset Management GmbH Reduces Position in Adecoagro S.A. (NYSE:AGRO)

Key Points

• Allianz Asset Management GmbH has significantly reduced its stake in Adecoagro S.A. by selling 193,635 shares, bringing its ownership down to 70,719 shares, which constitutes approximately 0.07% of the company.
• Despite Allianz's divestment, institutional investors and hedge funds collectively own 45.25% of Adecoagro, highlighting ongoing interest in the company from other financial entities.
• Adecoagro's stock is currently trading at $8.83, with recent analyst reports indicating a generally negative outlook, including price target reductions from firms like Morgan Stanley and Bank of America.

Allianz Asset Management GmbH reduced its position in shares of Adecoagro S.A. (NYSE:AGRO - Free Report) by 73.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,719 shares of the company's stock after selling 193,635 shares during the period. Allianz Asset Management GmbH owned 0.07% of Adecoagro worth $790,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in AGRO. Tabor Asset Management LP purchased a new stake in Adecoagro during the 1st quarter valued at approximately $328,000. Comprehensive Money Management Services LLC boosted its stake in shares of Adecoagro by 17.2% during the 1st quarter. Comprehensive Money Management Services LLC now owns 57,630 shares of the company's stock worth $644,000 after purchasing an additional 8,450 shares during the period. Insigneo Advisory Services LLC purchased a new stake in Adecoagro in the 1st quarter worth about $1,056,000. NBC Securities Inc. lifted its stake in Adecoagro by 143,775.0% in the first quarter. NBC Securities Inc. now owns 5,755 shares of the company's stock worth $64,000 after purchasing an additional 5,751 shares during the last quarter. Finally, Vise Technologies Inc. bought a new stake in Adecoagro in the fourth quarter worth about $153,000. Institutional investors own 45.25% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on AGRO shares. Morgan Stanley decreased their price objective on shares of Adecoagro from $10.00 to $9.50 and set an "underweight" rating for the company in a report on Wednesday, July 16th. UBS Group cut their price objective on shares of Adecoagro from $10.50 to $9.90 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Finally, Bank of America downgraded shares of Adecoagro from a "buy" rating to an "underperform" rating and reduced their target price for the stock from $12.00 to $10.80 in a report on Friday, April 25th.

Adecoagro Stock Performance

Shares of AGRO stock traded up $0.21 on Tuesday, hitting $9.07. The company had a trading volume of 183,030 shares, compared to its average volume of 736,404. The company has a quick ratio of 1.04, a current ratio of 1.98 and a debt-to-equity ratio of 0.47. Adecoagro S.A. has a twelve month low of $8.44 and a twelve month high of $12.07. The company has a 50-day moving average price of $9.30 and a 200-day moving average price of $9.90. The firm has a market cap of $906.41 million, a P/E ratio of 14.62 and a beta of 0.72.

Adecoagro Company Profile

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.