Mission Produce (NASDAQ:AVO) Shares Down 5.3% – Should You Sell?

Mission Produce, Inc. (NASDAQ:AVO)’s stock price was down 5.3% during mid-day trading on Monday . The company traded as low as $13.35 and last traded at $13.35. Approximately 174,338 shares changed hands during trading, a decline of 58% from the average daily volume of 416,175 shares. The stock had previously closed at $14.10.

Analyst Ratings Changes

A number of equities research analysts have commented on AVO shares. Roth Mkm raised their target price on shares of Mission Produce from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Lake Street Capital restated a “buy” rating and set a $15.00 price objective on shares of Mission Produce in a research report on Tuesday, September 10th.

Mission Produce Price Performance

The firm has a 50-day moving average of $13.29 and a 200-day moving average of $11.94. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.02 and a quick ratio of 1.40. The stock has a market cap of $936.08 million, a PE ratio of 40.00 and a beta of 0.50.

Insider Transactions at Mission Produce

In other Mission Produce news, CEO Stephen J. Barnard sold 7,032 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $14.51, for a total transaction of $102,034.32. Following the completion of the transaction, the chief executive officer now owns 1,787,450 shares in the company, valued at $25,935,899.50. This trade represents a 0.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jay A. Pack sold 59,165 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $14.70, for a total transaction of $869,725.50. Following the completion of the sale, the director now owns 1,015,160 shares in the company, valued at approximately $14,922,852. This trade represents a 5.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 223,322 shares of company stock valued at $3,245,105. 41.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mission Produce

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AVO. Dimensional Fund Advisors LP increased its position in shares of Mission Produce by 25.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,327,266 shares of the company’s stock valued at $13,113,000 after purchasing an additional 266,489 shares during the last quarter. Walleye Capital LLC bought a new position in Mission Produce in the 3rd quarter valued at $1,939,000. Marshall Wace LLP boosted its position in Mission Produce by 202.1% in the 2nd quarter. Marshall Wace LLP now owns 215,047 shares of the company’s stock valued at $2,125,000 after buying an additional 143,858 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Mission Produce during the third quarter worth approximately $1,295,000. Finally, Jane Street Group LLC raised its stake in shares of Mission Produce by 171.9% during the third quarter. Jane Street Group LLC now owns 158,257 shares of the company’s stock valued at $2,029,000 after acquiring an additional 100,055 shares in the last quarter. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

Mission Produce Company Profile

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.