IQ EQ FUND MANAGEMENT IRELAND Ltd Boosts Stock Position in Mission Produce, Inc. (NASDAQ:AVO)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Mission Produce, Inc. by 92.3%, owning 85,670 shares valued at approximately $898,000 as of the latest SEC filing.
• Mission Produce reported a quarterly revenue of $380.30 million, surpassing analysts' estimates of $296.15 million, and had an EPS of $0.12, exceeding consensus predictions.
• A significant 63.57% of Mission Produce's stock is held by hedge funds and institutional investors, reflecting strong interest in the company.

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in Mission Produce, Inc. (NASDAQ:AVO - Free Report) by 92.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 85,670 shares of the company's stock after purchasing an additional 41,125 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd owned about 0.12% of Mission Produce worth $898,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. KLP Kapitalforvaltning AS acquired a new stake in shares of Mission Produce during the 4th quarter valued at $114,000. LPL Financial LLC boosted its stake in shares of Mission Produce by 15.6% during the fourth quarter. LPL Financial LLC now owns 83,027 shares of the company's stock valued at $1,193,000 after purchasing an additional 11,233 shares in the last quarter. Prudential Financial Inc. bought a new stake in shares of Mission Produce during the fourth quarter worth about $635,000. JPMorgan Chase & Co. increased its stake in shares of Mission Produce by 161.9% in the fourth quarter. JPMorgan Chase & Co. now owns 135,824 shares of the company's stock valued at $1,952,000 after buying an additional 83,961 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Mission Produce by 23.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 415,132 shares of the company's stock valued at $5,965,000 after buying an additional 78,106 shares during the period. 63.57% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Bryan E. Giles sold 3,500 shares of the business'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 sale, the chief financial officer owned 131,062 shares of the company's stock, valued at $1,498,038.66. The trade was a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 35.41% of the company's stock.

Mission Produce Trading Up 0.5%

Shares of NASDAQ AVO traded up $0.06 during trading on Thursday, reaching $12.45. The company had a trading volume of 151,489 shares, compared to its average volume of 228,141. The stock has a market cap of $879.22 million, a P/E ratio of 24.90 and a beta of 0.57. The company's fifty day moving average price is $11.99 and its 200-day moving average price is $11.28. The company has a quick ratio of 1.23, a current ratio of 1.98 and a debt-to-equity ratio of 0.29. Mission Produce, Inc. has a 12 month low of $9.56 and a 12 month high of $15.25.

Mission Produce (NASDAQ:AVO - Get Free Report) last announced its quarterly earnings data 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. Mission Produce had a net margin of 2.63% and a return on equity of 7.82%. The firm had revenue of $380.30 million for the quarter, compared to analyst estimates of $296.15 million. During the same quarter in the prior year, the business earned $0.14 earnings per share. The business's quarterly revenue was up 27.8% compared to the same quarter last year. As a group, research analysts expect 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.