Wedge Capital Management L L P NC Increases Stake in Mission Produce, Inc. (NASDAQ:AVO)

Wedge Capital Management L L P NC boosted its position in Mission Produce, Inc. (NASDAQ:AVO - Free Report) by 54.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 112,272 shares of the company's stock after purchasing an additional 39,548 shares during the quarter. Wedge Capital Management L L P NC owned about 0.16% of Mission Produce worth $1,177,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in AVO. GAMMA Investing LLC boosted its holdings in shares of Mission Produce by 1,255.4% during the 1st quarter. GAMMA Investing LLC now owns 3,375 shares of the company's stock worth $322,000 after purchasing an additional 3,126 shares during the last quarter. New York State Teachers Retirement System purchased a new position in Mission Produce during the fourth quarter worth approximately $57,000. Ameriflex Group Inc. acquired a new position in Mission Produce during the fourth quarter worth $57,000. State of Wyoming purchased a new stake in Mission Produce in the 4th quarter valued at $63,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Mission Produce in the 4th quarter valued at $114,000. Hedge funds and other institutional investors own 63.57% of the company's stock.

Insider Activity

In other Mission Produce news, insider Juan R. Wiesner sold 21,892 shares of the company's stock in a transaction on Tuesday, March 18th. The stock was sold at an average price of $10.05, for a total transaction of $220,014.60. Following the transaction, the insider now directly owns 21,412 shares in the company, valued at $215,190.60. This represents a 50.55% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Bryan E. Giles sold 3,500 shares of Mission Produce stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 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 disclosure for this sale can be found here. Insiders have sold a total of 100,545 shares of company stock valued at $1,017,562 in the last quarter. Insiders own 35.41% of the company's stock.

Mission Produce Trading Up 1.6%

Shares of AVO traded up $0.19 during mid-day trading on Friday, reaching $12.33. The stock had a trading volume of 724,810 shares, compared to its average volume of 305,646. Mission Produce, Inc. has a 52-week low of $9.54 and a 52-week high of $15.25. The firm has a market cap of $870.72 million, a price-to-earnings ratio of 24.18 and a beta of 0.56. The business's fifty day moving average is $10.58 and its 200 day moving average is $11.56. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.87 and a quick ratio of 1.26.

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, beating the consensus estimate of $0.03 by $0.09. The firm had revenue of $380.30 million for the quarter, compared to analyst estimates of $296.15 million. Mission Produce had a net margin of 2.97% and a return on equity of 8.48%. The business's revenue for the quarter was up 27.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.14 EPS. On average, sell-side analysts predict that Mission Produce, Inc. will post 0.34 EPS for the current fiscal year.

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.