Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) Shares Cross Above 200 Day Moving Average - What's Next?

Key Points

• Cresud shares moved above their 200-day moving average, reaching $11.90 before closing at $11.58 on volume of 164,197 shares.
• Analyst sentiment remains cautious: Weiss Ratings downgraded the stock from “hold (c)” to “hold (c-),” while the overall consensus rating is “Hold.”
• Cresud reported quarterly earnings of $1.14 per share on $298.16 million in revenue, while insiders sold 165,000 shares over the past 90 days; institutional investors own 12.9% of the company.

Shares of Cresud S.A.C.I.F. y A. (NASDAQ:CRESY - Get Free Report) passed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $0.00 and traded as high as $11.90. Cresud S.A.C.I.F. y A. shares last traded at $11.58, with a volume of 164,197 shares.

Wall Street Analyst Weigh In

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

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

The company has a quick ratio of 1.05, a current ratio of 1.43 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $11.59. The stock has a market cap of $731.67 million, a P/E ratio of 6.47 and a beta of 0.68.

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY - Get Free Report) last issued its earnings results on Saturday, August 15th. The company reported $1.14 earnings per share for 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%.The business had revenue of $298.16 million during the quarter.

Insider Buying and Selling at Cresud S.A.C.I.F. y A.

In related news, Director Fernando Elsztain sold 65,000 shares of Cresud S.A.C.I.F. y A. stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $1.25, for a total value of $81,250.00. Following the completion of the sale, the director directly 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 transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 165,000 shares of company stock valued at $195,350 in the last ninety days. Insiders own 36.20% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acuitas Investments LLC bought a new stake in shares of Cresud S.A.C.I.F. y A. in the 1st quarter valued at about $127,000. R Squared Ltd lifted its position in shares of 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. OceanIQ Capital LLC bought a new position in shares of Cresud S.A.C.I.F. y A. during the second quarter valued at approximately $650,000. Finally, Kopernik Global Investors LLC boosted its stake in shares of Cresud S.A.C.I.F. y A. by 4.0% during the first 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 in the last quarter. 12.90% of the stock is currently owned by institutional investors.

About Cresud S.A.C.I.F. y A.

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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