MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 431,641 Shares of Adecoagro S.A. $AGRO

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Adecoagro S.A. by 24.5% during Q1, owning a total of 2,192,978 shares valued at approximately $24.5 million.
• Analysts have downgraded Adecoagro, with Morgan Stanley reducing its target price from $10.00 to $9.50 and UBS Group lowering it to $8.50, indicating overall bearish sentiment with an average rating of "Sell."
• Adecoagro's stock performance revealed a Q1 earnings miss, reporting a loss of ($0.14) EPS against estimates of $0.26, while revenue slightly surpassed expectations at $405.66 million.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Adecoagro S.A. (NYSE:AGRO - Free Report) by 24.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,192,978 shares of the company's stock after purchasing an additional 431,641 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 2.19% of Adecoagro worth $24,496,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of AGRO. NBC Securities Inc. lifted its stake in shares of Adecoagro by 143,775.0% in the first quarter. NBC Securities Inc. now owns 5,755 shares of the company's stock worth $64,000 after buying an additional 5,751 shares during the last quarter. State of Wyoming acquired a new position in Adecoagro during the 1st quarter worth $133,000. Lazard Asset Management LLC boosted its holdings in Adecoagro by 26.3% during the fourth quarter. Lazard Asset Management LLC now owns 13,406 shares of the company's stock valued at $126,000 after acquiring an additional 2,794 shares during the period. R Squared Ltd grew its position in shares of Adecoagro by 103.0% in the first quarter. R Squared Ltd now owns 15,128 shares of the company's stock valued at $169,000 after purchasing an additional 7,676 shares during the last quarter. Finally, Vise Technologies Inc. bought a new position in shares of Adecoagro in the fourth quarter worth about $153,000. Institutional investors own 45.25% of the company's stock.

Adecoagro Stock Performance

Adecoagro stock traded down $0.18 on Friday, hitting $8.05. The company's stock had a trading volume of 150,341 shares, compared to its average volume of 707,369. Adecoagro S.A. has a one year low of $7.89 and a one year high of $12.07. The firm has a market cap of $804.42 million, a P/E ratio of 22.99 and a beta of 0.65. The company has a quick ratio of 0.95, a current ratio of 1.90 and a debt-to-equity ratio of 0.48. The company has a fifty day moving average price of $8.94 and a 200-day moving average price of $9.67.

Adecoagro (NYSE:AGRO - Get Free Report) last issued its earnings results on Monday, August 18th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.40). Adecoagro had a net margin of 2.30% and a return on equity of 3.24%. The business had revenue of $405.66 million for the quarter, compared to analyst estimates of $402.00 million. On average, equities analysts anticipate that Adecoagro S.A. will post 1.24 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on AGRO. Wall Street Zen lowered Adecoagro from a "hold" rating to a "sell" rating in a report on Sunday, September 7th. UBS Group lowered their price objective on shares of Adecoagro from $9.90 to $8.50 and set a "neutral" rating on the stock in a research note on Wednesday, September 3rd. Finally, Morgan Stanley reduced their price target on shares of Adecoagro from $10.00 to $9.50 and set an "underweight" rating for the company in a report on Wednesday, July 16th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Adecoagro currently has a consensus rating of "Sell" and an average price target of $9.60.

About Adecoagro

Adecoagro SA operates as an agro-industrial company in South America. The company mainly operates through three segments: Farming; Sugar, Ethanol and Energy; and Land Transformation. It engages in farming crops, rice and other agricultural products, dairy operations, and land transformation activities, as well as sugar, ethanol, and energy production activities.