Sparta 24 Ltd. Acquires Shares of 2,100,278 Adecoagro S.A. $AGRO

Key Points

• Sparta 24 Ltd. has acquired 2,100,278 shares of Adecoagro S.A. valued at approximately $19.2 million, which now represents 16.4% of its investment portfolio.
• Analysts have downgraded Adecoagro, with Weiss Ratings issuing a "sell" rating and lowering target prices, reflecting a consensus rating of "Strong Sell."
• Adecoagro declared a dividend of $0.1749 per share, representing an impressive yield of 443.0%, with the ex-dividend date on November 3rd.

Sparta 24 Ltd. acquired a new stake in Adecoagro S.A. (NYSE:AGRO - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,100,278 shares of the company's stock, valued at approximately $19,197,000. Adecoagro accounts for 16.4% of Sparta 24 Ltd.'s investment portfolio, making the stock its 3rd biggest position. Sparta 24 Ltd. owned about 2.10% of Adecoagro as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Quantbot Technologies LP increased its stake in shares of Adecoagro by 5.8% during the first quarter. Quantbot Technologies LP now owns 26,888 shares of the company's stock worth $300,000 after acquiring an additional 1,481 shares during the period. Russell Investments Group Ltd. increased its stake in shares of Adecoagro by 1.7% during the first quarter. Russell Investments Group Ltd. now owns 108,843 shares of the company's stock worth $1,216,000 after acquiring an additional 1,823 shares during the period. Vident Advisory LLC increased its stake in shares of Adecoagro by 22.7% during the first quarter. Vident Advisory LLC now owns 36,664 shares of the company's stock worth $410,000 after acquiring an additional 6,773 shares during the period. R Squared Ltd increased its stake in shares of Adecoagro by 103.0% during the first quarter. R Squared Ltd now owns 15,128 shares of the company's stock worth $169,000 after acquiring an additional 7,676 shares during the period. Finally, State of Wyoming acquired a new position in shares of Adecoagro during the first quarter worth about $133,000. 45.25% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Weiss Ratings reiterated a "sell (d+)" rating on shares of Adecoagro in a research note on Wednesday, October 8th. Wall Street Zen lowered shares of Adecoagro from a "hold" rating to a "sell" rating in a research report on Sunday, September 7th. Morgan Stanley lowered their target price on shares of Adecoagro from $10.00 to $9.50 and set an "underweight" rating on the stock in a research report on Wednesday, July 16th. Finally, UBS Group lowered their target price on shares of Adecoagro from $9.90 to $8.50 and set a "neutral" rating on the stock in a research report on Wednesday, September 3rd. One analyst has rated the stock with a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, Adecoagro has a consensus rating of "Strong Sell" and an average price target of $9.60.

Adecoagro Stock Performance

NYSE:AGRO opened at $7.94 on Friday. 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 market cap of $793.92 million, a P/E ratio of 22.59 and a beta of 0.60. Adecoagro S.A. has a fifty-two week low of $7.42 and a fifty-two week high of $11.86. The firm's 50 day moving average is $8.09 and its two-hundred day moving average is $9.04.

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

Adecoagro Dividend Announcement

The company also recently declared a dividend, which will be paid on Wednesday, November 19th. Investors of record on Monday, November 3rd will be issued a dividend of $0.1749 per share. This represents a yield of 443.0%. The ex-dividend date of this dividend is Monday, November 3rd. Adecoagro's dividend payout ratio (DPR) is presently 100.00%.

Adecoagro Profile

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.

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