Graham Capital Management L.P. Has $615,000 Stock Position in Mission Produce, Inc. $AVO

Key Points

• Graham Capital Management L.P. increased its holdings in Mission Produce, Inc. by 91.2%, owning 58,691 shares worth approximately $615,000.
• Other institutional investors, including PNC Financial Services and GAMMA Investing LLC, also significantly boosted their stakes in Mission Produce during the first quarter, reflecting growing interest in the company.
• Mission Produce reported earnings of $0.12 per share for the last quarter, exceeding analysts' expectations and showing a revenue increase of 27.8% year-over-year.

Graham Capital Management L.P. raised its position in Mission Produce, Inc. (NASDAQ:AVO - Free Report) by 91.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 58,691 shares of the company's stock after acquiring an additional 27,996 shares during the period. Graham Capital Management L.P. owned about 0.08% of Mission Produce worth $615,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its holdings in Mission Produce by 53.6% in the 1st quarter. Teacher Retirement System of Texas now owns 121,111 shares of the company's stock valued at $1,269,000 after acquiring an additional 42,269 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in Mission Produce in the 1st quarter valued at approximately $1,339,000. Nuveen LLC acquired a new position in shares of Mission Produce in the 1st quarter worth approximately $1,137,000. Russell Investments Group Ltd. raised its holdings in shares of Mission Produce by 6,802.2% in the 1st quarter. Russell Investments Group Ltd. now owns 105,534 shares of the company's stock worth $1,104,000 after buying an additional 104,005 shares in the last quarter. Finally, Magnetar Financial LLC acquired a new position in shares of Mission Produce in the 1st quarter worth approximately $401,000. Institutional investors and hedge funds own 63.57% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Zacks Research cut Mission Produce from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, Mission Produce presently has a consensus rating of "Moderate Buy" and an average price target of $15.50.

Mission Produce Price Performance

NASDAQ AVO traded up $0.24 during trading hours on Monday, reaching $12.87. 1,660,079 shares of the company's stock were exchanged, compared to its average volume of 274,465. The stock has a market cap of $908.88 million, a PE ratio of 25.74 and a beta of 0.57. Mission Produce, Inc. has a one year low of $9.56 and a one year high of $15.25. The firm has a fifty day moving average of $12.31 and a 200-day moving average of $11.36. The company has a current ratio of 1.98, a quick ratio of 1.23 and a debt-to-equity ratio of 0.29.

Mission Produce (NASDAQ:AVO - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The company reported $0.12 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.09. The business had revenue of $380.30 million for the quarter, compared to analyst estimates 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 for the quarter was up 27.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.14 EPS. On average, equities research analysts predict that Mission Produce, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Bryan E. Giles sold 3,500 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $11.43, for a total transaction of $40,005.00. Following the sale, the chief financial officer directly owned 131,062 shares in the company, valued at $1,498,038.66. This represents a 2.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 35.41% of the stock is currently owned by company insiders.

Mission Produce Company 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.