Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) Shares Shorted: Short Interest Down 35.5% in September

Key Points

• Cresud’s short interest fell 35.5% to 599,154 shares as of September 30, representing 1.5% of shares outstanding and a short-interest ratio of 1.7 days.
• The stock opened at $11.39, with a market capitalization of $719.62 million, a price-to-earnings ratio of 6.23, and a 52-week trading range of $8.91 to $14.21. The company reported quarterly EPS of $1.14 on revenue of $298.16 million.
• Analyst sentiment remains neutral, with the stock carrying a consensus “Hold” rating. Insiders own 36.2% of the company, while institutional investors own 12.9%; recent insider activity included both director purchases and sales.

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY - Get Free Report) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 599,154 shares, a decline of 35.5% from the September 15th total of 929,480 shares. Based on an average daily volume of 350,144 shares, the short-interest ratio is presently 1.7 days. Currently, 1.5% of the shares of the company are sold short.

Cresud S.A.C.I.F. y A. Price Performance

Shares of Cresud S.A.C.I.F. y A. stock opened at $11.39 on Friday. Cresud S.A.C.I.F. y A. has a 1 year low of $8.91 and a 1 year high of $14.21. The company's 50 day moving average is $11.63. The company has a market capitalization of $719.62 million, a price-to-earnings ratio of 6.23 and a beta of 0.68. The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 0.46.

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY - Get Free Report) last posted its quarterly earnings data on Saturday, August 15th. The company reported $1.14 earnings per share (EPS) for the quarter. The firm had revenue of $298.16 million during the quarter. Cresud S.A.C.I.F. y A. had a return on equity of 6.18% and a net margin of 12.93%.

Insider Activity at Cresud S.A.C.I.F. y A.

In other Cresud S.A.C.I.F. y A. news, Director Alejandro Elsztain purchased 8,295 shares of the company's stock in a transaction that occurred on Thursday, October 15th. The shares were bought at an average cost of $11.18 per share, for a total transaction of $92,738.10. Following the purchase, the director owned 1,251,393 shares of the company's stock, valued at $13,990,573.74. This represents a 0.67% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Fernando Elsztain sold 65,000 shares of the company's stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $1.25, for a total transaction of $81,250.00. Following the sale, the director owned 515,736 shares in the company, valued at $644,670. The trade was a 11.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 165,000 shares of company stock worth $195,350. Insiders own 36.20% of the company's stock.

Institutional Trading of Cresud S.A.C.I.F. y A.

A number of hedge funds have recently bought and sold shares of CRESY. Kopernik Global Investors LLC grew its holdings in shares of Cresud S.A.C.I.F. y A. by 4.0% during the 1st quarter. Kopernik Global Investors LLC now owns 4,415,543 shares of the company's stock valued at $56,166,000 after purchasing an additional 168,662 shares during the last quarter. OceanIQ Capital LLC purchased a new position in Cresud S.A.C.I.F. y A. in the 2nd quarter worth $650,000. R Squared Ltd raised its position in Cresud S.A.C.I.F. y A. by 14.7% in the 1st quarter. R Squared Ltd now owns 17,534 shares of the company's stock worth $223,000 after purchasing an additional 2,253 shares during the period. Finally, Acuitas Investments LLC bought a new stake in Cresud S.A.C.I.F. y A. in the first quarter worth $127,000. Institutional investors own 12.90% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Cresud S.A.C.I.F. y A. from a "hold (c)" rating to a "hold (c-)" rating in a research report on Friday, October 2nd. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat.com, Cresud S.A.C.I.F. y A. currently has a consensus rating of "Hold".

Cresud S.A.C.I.F. y A. Company Profile

Cresud SAC.I.F. y A. is an Argentine agricultural company engaged in the acquisition, development, operation and sale of farmland. Its activities include the production of grains and oilseeds, cattle ranching and the management of agricultural properties. The company also develops irrigation, infrastructure and other improvements intended to increase the productivity and value of its land portfolio.

Cresud's farming operations have included crops such as soybeans, corn, wheat and sunflower, along with livestock production.

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