Shares of Adecoagro S.A. (NYSE:AGRO) were down 9% during mid-day trading on Monday . The company traded as low as $9.29 and last traded at $9.29. Approximately 14,035 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 823,789 shares. The stock had previously closed at $10.21.
A number of equities research analysts have issued reports on AGRO shares. Zacks Investment Research downgraded shares of Adecoagro from a “buy” rating to a “hold” rating in a research report on Friday, July 9th. TheStreet downgraded shares of Adecoagro from a “b-” rating to a “c+” rating in a research report on Thursday, July 1st.
The stock’s 50-day moving average price is $9.40 and its two-hundred day moving average price is $9.51. The stock has a market capitalization of $1.08 billion, a P/E ratio of 10.45 and a beta of 1.31. The company has a current ratio of 2.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.76.
Hedge funds have recently made changes to their positions in the stock. Man Group plc lifted its stake in Adecoagro by 3,545.6% in the 2nd quarter. Man Group plc now owns 3,009,024 shares of the company’s stock worth $30,210,000 after purchasing an additional 2,926,485 shares in the last quarter. BlackRock Inc. lifted its stake in Adecoagro by 97.4% in the 2nd quarter. BlackRock Inc. now owns 4,393,786 shares of the company’s stock worth $44,113,000 after purchasing an additional 2,167,819 shares in the last quarter. State Street Corp lifted its stake in Adecoagro by 339.1% in the 2nd quarter. State Street Corp now owns 1,921,264 shares of the company’s stock worth $19,289,000 after purchasing an additional 1,483,698 shares in the last quarter. Morgan Stanley lifted its stake in Adecoagro by 230.2% in the 1st quarter. Morgan Stanley now owns 1,716,462 shares of the company’s stock worth $13,491,000 after purchasing an additional 1,196,712 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Adecoagro in the 1st quarter worth approximately $7,876,000. Institutional investors own 60.58% of the company’s stock.
Adecoagro Company Profile (NYSE:AGRO)
Adecoagro SA is a holding company, which engages in the provision of agricultural and agro-industrial products and services. It operates through the following segments: Farming; Sugar, Ethanol, and Energy; and Land Transformation. The Farming segment comprises planting, harvesting, processing, and marketing of rice; production and sale of raw milk; and other dairy products.
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