PenderFund Capital Management Ltd. Makes New Investment in Adecoagro S.A. $AGRO

PenderFund Capital Management Ltd. purchased a new position in Adecoagro S.A. (NYSE:AGRO - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 250,000 shares of the company's stock, valued at approximately $2,388,000. PenderFund Capital Management Ltd. owned 0.18% of Adecoagro at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Decker Retirement Planning Inc. purchased a new stake in Adecoagro during the 1st quarter worth about $4,629,000. Monaco Asset Management SAM bought a new position in Adecoagro in the 2nd quarter worth about $573,000. Amundi purchased a new position in Adecoagro during the 1st quarter valued at about $1,436,000. PDT Partners LLC purchased a new position in Adecoagro during the 2nd quarter valued at about $2,465,000. Finally, Stonebridge Financial Group LLC MO bought a new stake in shares of Adecoagro during the fourth quarter valued at about $592,000. 45.25% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on AGRO shares. JPMorgan Chase & Co. raised their price objective on shares of Adecoagro from $7.00 to $10.50 and gave the company an "underweight" rating in a research report on Monday, June 15th. Weiss Ratings cut shares of Adecoagro from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, July 14th. Finally, UBS Group decreased their target price on shares of Adecoagro from $15.20 to $13.20 and set a "buy" rating on the stock in a report on Thursday. One research analyst has rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $11.62.

Adecoagro Price Performance

NYSE:AGRO opened at $10.70 on Friday. Adecoagro S.A. has a 52-week low of $6.89 and a 52-week high of $15.89. The stock has a fifty day moving average of $9.94 and a 200 day moving average of $11.34. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.89 and a current ratio of 1.73. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 32.42 and a beta of -0.04.

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

Adecoagro 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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