Tabor Asset Management LP bought a new stake in Adecoagro S.A. (NYSE:AGRO - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 29,322 shares of the company's stock, valued at approximately $328,000.
A number of other hedge funds have also recently made changes to their positions in AGRO. Insigneo Advisory Services LLC bought a new stake in Adecoagro in the first quarter worth $1,056,000. Causeway Capital Management LLC grew its stake in shares of Adecoagro by 88.8% during the fourth quarter. Causeway Capital Management LLC now owns 567,374 shares of the company's stock valued at $5,350,000 after buying an additional 266,816 shares during the last quarter. Northern Trust Corp grew its stake in shares of Adecoagro by 352.0% during the fourth quarter. Northern Trust Corp now owns 57,549 shares of the company's stock valued at $543,000 after buying an additional 44,816 shares during the last quarter. Comprehensive Money Management Services LLC bought a new position in shares of Adecoagro during the fourth quarter valued at about $464,000. Finally, Magnetar Financial LLC bought a new position in shares of Adecoagro during the fourth quarter valued at about $526,000. 45.25% of the stock is currently owned by institutional investors.
Adecoagro Stock Down 0.6%
AGRO traded down $0.06 on Monday, hitting $9.45. The company had a trading volume of 91,072 shares, compared to its average volume of 803,019. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.98 and a quick ratio of 1.04. Adecoagro S.A. has a 52-week low of $8.45 and a 52-week high of $12.08. The stock has a fifty day simple moving average of $9.28 and a 200-day simple moving average of $9.94. The firm has a market capitalization of $944.41 million, a P/E ratio of 15.22 and a beta of 0.70.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on the company. UBS Group reduced their price objective on Adecoagro from $10.50 to $9.90 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Bank of America cut Adecoagro from a "buy" rating to an "underperform" rating and reduced their price objective for the company from $12.00 to $10.80 in a research note on Friday, April 25th. Finally, Morgan Stanley lowered their price objective on shares of Adecoagro from $10.00 to $9.50 and set an "underweight" rating for the company in a research note on Wednesday, July 16th.
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About Adecoagro
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Free Report)
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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