GMT Capital Corp Purchases New Position in Cresud S.A.C.I.F. y A. $CRESY

Key Points

• GMT Capital Corp has invested $11.34 million in Cresud S.A.C.I.F. y A., acquiring approximately 1,026,395 shares, which represent around 0.6% of its total portfolio.
• Recent moves by other institutional investors include Ridgewood Investments LLC increasing its stake by 920% and Bank of America Corp DE boosting its ownership by 464.8%.
• Wall Street Zen has downgraded Cresud's rating from "buy" to "hold," indicating a shift in market sentiment regarding the stock's performance.

GMT Capital Corp bought a new position in shares of Cresud S.A.C.I.F. y A. (NASDAQ:CRESY - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,026,395 shares of the company's stock, valued at approximately $11,342,000. Cresud S.A.C.I.F. y A. accounts for about 0.6% of GMT Capital Corp's investment portfolio, making the stock its 25th biggest position. GMT Capital Corp owned 1.70% of Cresud S.A.C.I.F. y A. as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Russell Investments Group Ltd. boosted its position in shares of Cresud S.A.C.I.F. y A. by 6.8% during the 1st quarter. Russell Investments Group Ltd. now owns 107,309 shares of the company's stock worth $1,186,000 after acquiring an additional 6,837 shares in the last quarter. Deuterium Capital Management LLC acquired a new stake in Cresud S.A.C.I.F. y A. in the first quarter valued at approximately $114,000. Ridgewood Investments LLC boosted its position in Cresud S.A.C.I.F. y A. by 920.0% in the first quarter. Ridgewood Investments LLC now owns 5,100 shares of the company's stock valued at $56,000 after buying an additional 4,600 shares in the last quarter. Ping Capital Management Inc. boosted its position in Cresud S.A.C.I.F. y A. by 10.5% in the first quarter. Ping Capital Management Inc. now owns 160,500 shares of the company's stock valued at $1,774,000 after buying an additional 15,200 shares in the last quarter. Finally, Comprehensive Money Management Services LLC lifted its holdings in shares of Cresud S.A.C.I.F. y A. by 8.5% during the first quarter. Comprehensive Money Management Services LLC now owns 82,942 shares of the company's stock worth $917,000 after purchasing an additional 6,486 shares during the period. 12.90% of the stock is owned by institutional investors.

Cresud S.A.C.I.F. y A. Stock Up 2.2%

CRESY traded up $0.22 during midday trading on Thursday, hitting $9.81. The company had a trading volume of 112,195 shares, compared to its average volume of 214,651. Cresud S.A.C.I.F. y A. has a 52 week low of $8.29 and a 52 week high of $14.23. The company has a quick ratio of 0.95, a current ratio of 1.25 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $602.13 million, a price-to-earnings ratio of 8.51 and a beta of 1.10. The stock's 50 day moving average price is $10.88 and its 200 day moving average price is $11.03.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of Cresud S.A.C.I.F. y A. from a "buy" rating to a "hold" rating in a research note on Saturday, August 30th.

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

Cresud Sociedad Anónima, Comercial, Inmobiliaria, Financiera y Agropecuaria, an agricultural company, engages in the production of agricultural commodities in Brazil and other Latin American countries. The company operates through Agricultural Business, and Business Urban Properties and Investments segments.