Magnetar Financial LLC Has $269,000 Stock Holdings in Bunge Global SA $BG

Key Points

• Magnetar Financial LLC has reduced its stake in Bunge Global SA by 90.2%, selling 32,480 shares and now holds just 3,515 shares worth $269,000.
• A number of institutional investors, including UMB Bank and Manchester Capital Management, have made substantial increases to their positions in Bunge, reflecting a growing interest with institutional ownership now at 86.23%.
• Bunge Global reported earnings of $1.31 EPS, surpassing analysts' expectations, although revenue was down 3.6% year-over-year.

Magnetar Financial LLC lessened its holdings in shares of Bunge Global SA (NYSE:BG - Free Report) by 90.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 3,515 shares of the basic materials company's stock after selling 32,480 shares during the period. Magnetar Financial LLC's holdings in Bunge Global were worth $269,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of BG. AustralianSuper Pty Ltd bought a new stake in Bunge Global in the first quarter valued at about $92,552,000. Voloridge Investment Management LLC increased its holdings in Bunge Global by 443.2% in the fourth quarter. Voloridge Investment Management LLC now owns 1,215,320 shares of the basic materials company's stock valued at $94,503,000 after purchasing an additional 991,607 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Bunge Global by 34.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,346,709 shares of the basic materials company's stock valued at $255,756,000 after purchasing an additional 859,733 shares during the last quarter. Man Group plc bought a new stake in Bunge Global in the fourth quarter valued at about $50,561,000. Finally, Nuveen LLC bought a new stake in Bunge Global in the first quarter valued at about $40,963,000. Institutional investors and hedge funds own 86.23% of the company's stock.

Insider Activity

In related news, Director Christopher Mahoney acquired 5,000 shares of the business's stock in a transaction dated Monday, August 18th. The stock was bought at an average price of $81.73 per share, with a total value of $408,650.00. Following the acquisition, the director owned 7,164 shares in the company, valued at $585,513.72. This represents a 231.05% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.80% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have weighed in on BG. Morgan Stanley increased their target price on shares of Bunge Global from $74.00 to $83.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 12th. JPMorgan Chase & Co. began coverage on shares of Bunge Global in a report on Wednesday, August 20th. They issued an "overweight" rating and a $95.00 target price on the stock. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, Bunge Global has a consensus rating of "Moderate Buy" and a consensus target price of $85.33.

Bunge Global Stock Down 0.9%

Shares of NYSE BG traded down $0.73 during midday trading on Monday, reaching $83.60. The company's stock had a trading volume of 453,251 shares, compared to its average volume of 1,845,406. The company has a current ratio of 2.07, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. Bunge Global SA has a fifty-two week low of $67.40 and a fifty-two week high of $100.48. The stock has a market capitalization of $16.72 billion, a price-to-earnings ratio of 8.37, a PEG ratio of 6.29 and a beta of 0.67. The stock has a 50 day simple moving average of $79.92 and a 200-day simple moving average of $78.21.

Bunge Global (NYSE:BG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.19 by $0.12. Bunge Global had a net margin of 2.71% and a return on equity of 9.16%. The company had revenue of $12.77 billion for the quarter, compared to the consensus estimate of $12.57 billion. During the same period last year, the company earned $1.73 earnings per share. The firm's revenue was down 3.6% compared to the same quarter last year. Bunge Global has set its FY 2025 guidance at 7.750-7.750 EPS. Equities research analysts predict that Bunge Global SA will post 7.94 earnings per share for the current year.

About Bunge Global

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.