IQ EQ FUND MANAGEMENT IRELAND Ltd Increases Holdings 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 grew its stake in Mission Produce, Inc. (NASDAQ:AVO - Free Report) by 92.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,670 shares of the company's stock after buying an additional 41,125 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd owned 0.12% of Mission Produce worth $898,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AVO. PNC Financial Services Group Inc. lifted its holdings in shares of Mission Produce by 123.1% in the first quarter. PNC Financial Services Group Inc. now owns 2,950 shares of the company's stock valued at $31,000 after purchasing an additional 1,628 shares in the last quarter. Ameriflex Group Inc. bought a new stake in Mission Produce during the fourth quarter worth $57,000. State of Wyoming bought a new stake in Mission Produce during the fourth quarter worth $63,000. KLP Kapitalforvaltning AS bought a new stake in Mission Produce during the fourth quarter worth $114,000. Finally, Diversified Trust Co bought a new stake in Mission Produce during the first quarter worth $137,000. Institutional investors and hedge funds own 63.57% of the company's stock.

Insider Transactions at Mission Produce

In other Mission Produce news, CFO Bryan E. Giles sold 3,500 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $11.43, for a total value of $40,005.00. Following the completion of the sale, the chief financial officer directly owned 131,062 shares of the company's stock, valued at $1,498,038.66. This trade represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 35.41% of the stock is owned by corporate insiders.

Mission Produce Stock Performance

NASDAQ:AVO traded down $0.13 during trading hours on Friday, reaching $12.32. The stock had a trading volume of 206,686 shares, compared to its average volume of 219,978. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.23 and a current ratio of 1.98. The stock has a 50 day simple moving average of $12.01 and a 200 day simple moving average of $11.28. Mission Produce, Inc. has a 12-month low of $9.56 and a 12-month high of $15.25. The stock has a market cap of $870.04 million, a P/E ratio of 24.64 and a beta of 0.57.

Mission Produce (NASDAQ:AVO - Get Free Report) last released its earnings results on Thursday, June 5th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.09. Mission Produce had a return on equity of 7.82% and a net margin of 2.63%. The business had revenue of $380.30 million during the quarter, compared to the consensus estimate of $296.15 million. During the same period last year, the business posted $0.14 earnings per share. The business's revenue for the quarter was up 27.8% on a year-over-year basis. On average, research analysts forecast that Mission Produce, Inc. will post 0.34 EPS for the current fiscal year.

About Mission Produce

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.