Dauntless Investment Group LLC Sells 31,991 Shares of Adecoagro S.A. (NYSE:AGRO)

Key Points

• Dauntless Investment Group LLC reduced its stake in Adecoagro S.A. by 26.9%, now holding 86,877 shares after selling 31,991 shares.
• Several hedge funds made significant increases in their positions during the 4th quarter, with MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosting its holdings by 68.3%.
• Analysts have recently downgraded Adecoagro's stock, with Bank of America lowering its rating from "buy" to "underperform" and reducing the price target from $12.00 to $10.80.

Dauntless Investment Group LLC cut its stake in shares of Adecoagro S.A. (NYSE:AGRO - Free Report) by 26.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 86,877 shares of the company's stock after selling 31,991 shares during the period. Adecoagro accounts for 1.1% of Dauntless Investment Group LLC's holdings, making the stock its 9th largest position. Dauntless Investment Group LLC owned about 0.09% of Adecoagro worth $970,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Lazard Asset Management LLC increased its holdings in shares of Adecoagro by 26.3% during the fourth quarter. Lazard Asset Management LLC now owns 13,406 shares of the company's stock worth $126,000 after purchasing an additional 2,794 shares during the period. Vident Advisory LLC increased its holdings in shares of Adecoagro by 15.8% during the fourth quarter. Vident Advisory LLC now owns 29,891 shares of the company's stock worth $282,000 after purchasing an additional 4,089 shares during the period. NBC Securities Inc. increased its holdings in shares of Adecoagro by 143,775.0% during 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 period. Comprehensive Money Management Services LLC increased its holdings in shares of Adecoagro by 17.2% during the first 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. Finally, OLD Mission Capital LLC bought a new position in Adecoagro in the fourth quarter valued at approximately $108,000. 45.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Adecoagro Price Performance

Shares of NYSE AGRO traded down $0.30 during midday trading on Friday, reaching $8.90. 211,105 shares of the company were exchanged, compared to its average volume of 741,432. The stock's 50-day moving average price is $9.32 and its 200-day moving average price is $9.92. The stock has a market cap of $889.41 million, a P/E ratio of 14.35 and a beta of 0.70. Adecoagro S.A. has a one year low of $8.44 and a one year high of $12.07. The company has a quick ratio of 1.04, a current ratio of 1.98 and a debt-to-equity ratio of 0.47.

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.