Algert Global LLC Boosts Position in Mission Produce, Inc. $AVO

Key Points

• Algert Global LLC significantly increased its stake in Mission Produce, acquiring an additional 173,472 shares to own a total of 251,784 shares, representing a 221.5% increase in the first quarter.
• Mission Produce reported a quarterly revenue of $380.30 million, which exceeded analysts' expectations of $296.15 million, and posted earnings of $0.12 per share, beating the consensus estimate by $0.09.
• Insider trading activity included CFO Bryan E. Giles selling 3,500 shares at an average price of $11.43, leading to a 2.60% decrease in his holdings.

Algert Global LLC increased its holdings in shares of Mission Produce, Inc. (NASDAQ:AVO - Free Report) by 221.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 251,784 shares of the company's stock after purchasing an additional 173,472 shares during the quarter. Algert Global LLC owned 0.35% of Mission Produce worth $2,639,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of AVO. PNC Financial Services Group Inc. increased its position in shares of Mission Produce by 123.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,950 shares of the company's stock worth $31,000 after purchasing an additional 1,628 shares during the last quarter. Ameriflex Group Inc. acquired a new stake in shares of Mission Produce during the 4th quarter worth about $57,000. State of Wyoming acquired a new stake in shares of Mission Produce during the 4th quarter worth about $63,000. Diversified Trust Co acquired a new position in Mission Produce in the 1st quarter valued at about $137,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Mission Produce in the 1st quarter valued at about $144,000. 63.57% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Mission Produce news, CFO Bryan E. Giles sold 3,500 shares of Mission Produce stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $11.43, for a total value of $40,005.00. Following the completion of the transaction, the chief financial officer directly owned 131,062 shares of the company's stock, valued at $1,498,038.66. The trade was a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 35.41% of the stock is currently owned by corporate insiders.

Mission Produce Trading Down 0.8%

NASDAQ AVO traded down $0.10 during trading on Tuesday, hitting $12.46. The stock had a trading volume of 340,120 shares, compared to its average volume of 227,752. The company has a market capitalization of $879.93 million, a PE ratio of 24.92 and a beta of 0.57. The company has a quick ratio of 1.23, a current ratio of 1.98 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average price of $12.24 and a 200 day moving average price of $11.32. Mission Produce, Inc. has a twelve month low of $9.56 and a twelve month high of $15.25.

Mission Produce (NASDAQ:AVO - Get Free Report) last released its earnings results on Thursday, June 5th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.09. The company had revenue of $380.30 million during the quarter, compared to the consensus estimate of $296.15 million. Mission Produce had a return on equity of 7.82% and a net margin of 2.63%.Mission Produce's revenue was up 27.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.14 EPS. As a group, equities research analysts forecast that Mission Produce, Inc. will post 0.34 earnings per share for the current year.

Mission Produce Profile

Mission Produce, Inc engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.