Mission Produce (NASDAQ:AVO) Trading Up 2%

Mission Produce, Inc. (NASDAQ:AVO)’s stock price shot up 2% on Monday . The company traded as high as $10.47 and last traded at $10.36. 193,105 shares traded hands during mid-day trading, a decline of 2% from the average session volume of 197,911 shares. The stock had previously closed at $10.16.

Wall Street Analyst Weigh In

Separately, Lake Street Capital began coverage on shares of Mission Produce in a report on Friday, May 17th. They issued a “buy” rating and a $15.00 price target on the stock.

Mission Produce Stock Up 2.0 %

The business’s 50 day moving average is $10.98 and its 200 day moving average is $10.95. The company has a market capitalization of $778.59 million, a price-to-earnings ratio of 43.92 and a beta of 0.48. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.49 and a current ratio of 2.27.

Mission Produce (NASDAQ:AVO) last released its earnings results on Thursday, June 6th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.13. The company had revenue of $297.60 million during the quarter, compared to analysts’ expectations of $226.70 million. Mission Produce had a net margin of 1.64% and a return on equity of 5.64%. Sell-side analysts anticipate that Mission Produce, Inc. will post 0.16 earnings per share for the current year.

Insiders Place Their Bets

In other Mission Produce news, Director Luis A. Gonzalez sold 27,422 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $12.23, for a total transaction of $335,371.06. Following the completion of the transaction, the director now directly owns 123,000 shares of the company’s stock, valued at approximately $1,504,290. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Mission Produce news, Director Luis A. Gonzalez sold 27,422 shares of the firm’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $12.23, for a total transaction of $335,371.06. Following the completion of the transaction, the director now directly owns 123,000 shares of the company’s stock, valued at approximately $1,504,290. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Luis A. Gonzalez sold 15,687 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $12.00, for a total transaction of $188,244.00. Following the transaction, the director now directly owns 7,451,233 shares of the company’s stock, valued at $89,414,796. The disclosure for this sale can be found here. In the last ninety days, insiders sold 215,349 shares of company stock valued at $2,494,345. 41.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Mission Produce

Several institutional investors have recently made changes to their positions in the company. SG Capital Management LLC purchased a new position in shares of Mission Produce during the 1st quarter valued at approximately $1,331,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Mission Produce by 15.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,932 shares of the company’s stock valued at $166,000 after purchasing an additional 1,870 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Mission Produce by 245.2% during the 1st quarter. Lazard Asset Management LLC now owns 4,381 shares of the company’s stock valued at $52,000 after purchasing an additional 3,112 shares in the last quarter. PEAK6 Investments LLC purchased a new position in shares of Mission Produce during the 1st quarter valued at approximately $132,000. Finally, Advisors Asset Management Inc. purchased a new position in shares of Mission Produce during the 1st quarter valued at approximately $212,000. 63.57% of the stock is owned by hedge funds and other institutional investors.

About Mission Produce

Mission Produce, Inc engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.