PDT Partners LLC Purchases Shares of 258,108 Adecoagro S.A. $AGRO

Key Points

• PDT Partners purchased 258,108 shares of Adecoagro during the second quarter, worth approximately $2.47 million and representing about 0.18% of the company. Institutional investors and hedge funds collectively own 45.25% of AGRO.
• Analyst sentiment remains cautious: Adecoagro has a consensus rating of “Reduce” and an average price target of $12.12, despite JPMorgan raising its target to $10.50.
• Adecoagro’s latest quarterly results fell short of expectations, with EPS of $0.13 versus the $0.54 consensus and revenue of $538.5 million versus estimates of $602.01 million.

PDT Partners LLC bought a new stake in Adecoagro S.A. (NYSE:AGRO - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 258,108 shares of the company's stock, valued at approximately $2,465,000. PDT Partners LLC owned about 0.18% of Adecoagro at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in AGRO. Principal Securities Inc. raised its position in shares of Adecoagro by 4.3% in the 4th quarter. Principal Securities Inc. now owns 44,530 shares of the company's stock worth $353,000 after buying an additional 1,851 shares during the period. Comprehensive Money Management Services LLC grew its position in Adecoagro by 5.0% during the first quarter. Comprehensive Money Management Services LLC now owns 73,733 shares of the company's stock valued at $1,107,000 after acquiring an additional 3,495 shares during the period. State of Wyoming increased its stake in Adecoagro by 44.9% during the second quarter. State of Wyoming now owns 17,203 shares of the company's stock worth $157,000 after acquiring an additional 5,334 shares during the last quarter. Lazard Asset Management LLC raised its holdings in shares of Adecoagro by 4.4% in the 1st quarter. Lazard Asset Management LLC now owns 197,265 shares of the company's stock worth $2,963,000 after purchasing an additional 8,341 shares during the period. Finally, Orion Porfolio Solutions LLC purchased a new position in shares of Adecoagro in the 4th quarter worth about $88,000. 45.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on AGRO shares. JPMorgan Chase & Co. lifted their target price on shares of Adecoagro from $7.00 to $10.50 and gave the company an "underweight" rating in a report on Monday, June 15th. Weiss Ratings downgraded Adecoagro from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, July 14th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Adecoagro presently has a consensus rating of "Reduce" and a consensus target price of $12.12.

Adecoagro Trading Up 0.6%

NYSE AGRO opened at $11.10 on Thursday. The stock has a market cap of $1.58 billion, a P/E ratio of 33.64 and a beta of -0.04. The company's fifty day simple moving average is $9.91 and its 200-day simple moving average is $11.32. The company has a current ratio of 1.73, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. Adecoagro S.A. has a 52 week low of $6.89 and a 52 week high of $15.89.

Adecoagro (NYSE:AGRO - Get Free Report) last issued its earnings results on Tuesday, August 11th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.54 by ($0.41). The company had revenue of $538.50 million during the quarter, compared to analyst estimates of $602.01 million. Adecoagro had a net margin of 3.03% and a negative return on equity of 0.38%. Equities research analysts predict that Adecoagro S.A. will post 1.42 EPS for the current fiscal year.

Adecoagro Company Profile

Adecoagro NYSE: AGRO is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.

The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.

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