Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) Stock Price Up 5.1% - Here's What Happened

Key Points

• Cresud shares rose 5.1% to about $9.41 in Friday trading, while volume was 64% below its average.
• Weiss Ratings upgraded the stock from “hold (c-)” to “hold (c),” though the overall analyst consensus remains Hold.
• The company reported quarterly earnings of $1.14 per share on $298.16 million in revenue; insiders’ recent activity included a director purchase and sales by insiders.

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY - Get Free Report) shot up 5.1% during mid-day trading on Friday. The stock traded as high as $9.39 and last traded at $9.4090. Approximately 94,645 shares changed hands during trading, a decline of 64% from the average daily volume of 263,663 shares. The stock had previously closed at $8.95.

Analyst Ratings Changes

Separately, Weiss Ratings raised 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 16th. One equities research analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock has an average rating of "Hold".

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

The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.13 and a current ratio of 1.47. The company has a market capitalization of $637.56 million, a P/E ratio of 7.20 and a beta of 0.68. The business's 50-day moving average is $11.30.

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY - Get Free Report) last released its earnings results on Saturday, August 15th. The company reported $1.14 EPS for the quarter. The firm had revenue of $298.16 million for the quarter. Cresud S.A.C.I.F. y A. had a return on equity of 4.68% and a net margin of 9.75%.

Cresud S.A.C.I.F. y A. Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Thursday, November 12th. Investors of record on Monday, November 2nd were given a dividend of $0.7494 per share. This represents a yield of 752.0%. The ex-dividend date of this dividend was Monday, November 2nd. Cresud S.A.C.I.F. y A.'s dividend payout ratio is 37.14%.

Insider Activity

In other news, Director Alejandro Elsztain bought 8,295 shares of the firm's stock in a transaction on Thursday, October 15th. The stock was acquired at an average cost of $11.18 per share, with a total value of $92,738.10. Following the completion of the acquisition, the director owned 1,251,393 shares of the company's stock, valued at approximately $13,990,573.74. This represents a 0.67% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed 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 stock was sold at an average price of $1.25, for a total transaction of $81,250.00. Following the completion of the transaction, the director owned 515,736 shares in the company, valued at approximately $644,670. This represents a 11.19% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 120,000 shares of company stock valued at $144,400 over the last ninety days. Corporate insiders own 36.20% of the company's stock.

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

An institutional investor recently bought a new position in Cresud S.A.C.I.F. y A. stock. OceanIQ Capital LLC bought a new position in Cresud S.A.C.I.F. y A. (NASDAQ:CRESY - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 61,448 shares of the company's stock, valued at approximately $650,000. OceanIQ Capital LLC owned approximately 0.10% of Cresud S.A.C.I.F. y A. at the end of the most recent quarter. Institutional investors own 12.90% of the company's stock.

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

Cresud S.A.C.I.F. y A. is an Argentine agribusiness company focused on owning, developing and operating agricultural land. Its activities include producing crops and livestock, leasing farmland and buying, selling or improving rural properties. The company's operations span Argentina and other South American markets, including Brazil, Paraguay and Bolivia. Cresud also has exposure to the region's real estate sector through its investment in IRSA, an Argentine property company. Founded in 1936, Cresud has grown from its roots in Argentine agriculture into a regional land and agribusiness business.

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