GMT Capital Corp Acquires 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 purchased a new position in Cresud S.A.C.I.F. y A. (NASDAQ:CRESY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,026,395 shares of the company's stock, valued at approximately $11,342,000. Cresud S.A.C.I.F. y A. makes up about 0.6% of GMT Capital Corp's portfolio, making the stock its 25th largest holding. GMT Capital Corp owned about 1.70% of Cresud S.A.C.I.F. y A. as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. GAMMA Investing LLC grew its stake in shares of Cresud S.A.C.I.F. y A. by 942.7% in the first quarter. GAMMA Investing LLC now owns 67,272 shares of the company's stock worth $743,000 after acquiring an additional 60,820 shares in the last quarter. Systrade AG lifted its position in shares of Cresud S.A.C.I.F. y A. by 19.6% during the 1st quarter. Systrade AG now owns 174,912 shares of the company's stock worth $1,933,000 after purchasing an additional 28,631 shares during the last quarter. Comprehensive Money Management Services LLC purchased a new stake in shares of Cresud S.A.C.I.F. y A. during the 4th quarter worth $966,000. Glenorchy Capital Ltd lifted its position in shares of Cresud S.A.C.I.F. y A. by 24.2% during the 4th quarter. Glenorchy Capital Ltd now owns 351,183 shares of the company's stock worth $4,435,000 after purchasing an additional 68,442 shares during the last quarter. Finally, 683 Capital Management LLC lifted its position in shares of Cresud S.A.C.I.F. y A. by 5.2% during the 4th quarter. 683 Capital Management LLC now owns 885,000 shares of the company's stock worth $11,178,000 after purchasing an additional 44,000 shares during the last quarter. Institutional investors and hedge funds own 12.90% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen cut shares of Cresud S.A.C.I.F. y A. from a "buy" rating to a "hold" rating in a research report on Saturday.

Cresud S.A.C.I.F. y A. Trading Down 3.1%

Shares of CRESY stock traded down $0.31 during mid-day trading on Wednesday, reaching $9.55. The company's stock had a trading volume of 217,503 shares, compared to its average volume of 215,139. The company's 50 day simple moving average is $10.90 and its 200-day simple moving average is $11.04. Cresud S.A.C.I.F. y A. has a 12-month low of $7.88 and a 12-month 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 firm has a market capitalization of $586.47 million, a PE ratio of 8.30 and a beta of 1.10.

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

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.