Algert Global LLC Grows Stock Holdings 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 grew its stake in Mission Produce, Inc. (NASDAQ:AVO - Free Report) by 221.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 251,784 shares of the company's stock after buying an additional 173,472 shares during the quarter. Algert Global LLC owned 0.35% of Mission Produce worth $2,639,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Millennium Management LLC lifted its stake in Mission Produce by 153.3% in the 4th quarter. Millennium Management LLC now owns 453,757 shares of the company's stock valued at $6,520,000 after buying an additional 274,591 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Mission Produce by 16.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,787,778 shares of the company's stock worth $25,691,000 after purchasing an additional 257,344 shares in the last quarter. American Century Companies Inc. lifted its stake in Mission Produce by 38.1% during the first quarter. American Century Companies Inc. now owns 669,734 shares of the company's stock worth $7,019,000 after purchasing an additional 184,639 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Mission Produce during the first quarter worth $1,339,000. Finally, D. E. Shaw & Co. Inc. lifted its stake in Mission Produce by 96.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 225,025 shares of the company's stock worth $3,234,000 after purchasing an additional 110,198 shares in the last quarter. 63.57% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Mission Produce news, CFO Bryan E. Giles sold 3,500 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were 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 owned 131,062 shares of the company's stock, valued at $1,498,038.66. This trade represents a 2.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 35.41% of the stock is owned by corporate insiders.

Mission Produce Trading Down 1.4%

NASDAQ:AVO traded down $0.18 during trading hours on Monday, reaching $12.63. 119,807 shares of the stock were exchanged, compared to its average volume of 321,869. 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 business has a 50-day moving average of $12.24 and a two-hundred day moving average of $11.31. Mission Produce, Inc. has a twelve month low of $9.56 and a twelve month high of $15.25. The company has a market capitalization of $891.93 million, a price-to-earnings ratio of 25.26 and a beta of 0.57.

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