Mission Produce, Inc. (NASDAQ:AVO) Sees Large Growth in Short Interest

Mission Produce, Inc. (NASDAQ:AVO) was the target of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 1,260,000 shares, an increase of 11.5% from the March 15th total of 1,130,000 shares. Based on an average daily trading volume, of 183,100 shares, the days-to-cover ratio is currently 6.9 days. Approximately 2.9% of the shares of the stock are short sold.

Mission Produce Trading Up 0.5 %

Shares of AVO traded up $0.06 during mid-day trading on Monday, reaching $11.39. 120,282 shares of the company were exchanged, compared to its average volume of 179,508. The business has a 50 day simple moving average of $11.17 and a two-hundred day simple moving average of $10.11. Mission Produce has a 52 week low of $8.19 and a 52 week high of $13.99. The stock has a market capitalization of $806.98 million, a PE ratio of 142.38, a PEG ratio of 1.36 and a beta of 0.49. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.47 and a current ratio of 2.27.

Mission Produce (NASDAQ:AVO) last released its quarterly earnings results on Monday, March 11th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.16. Mission Produce had a net margin of 0.60% and a return on equity of 3.98%. The firm had revenue of $258.70 million during the quarter, compared to analyst estimates of $188.40 million. On average, analysts predict that Mission Produce will post 0.31 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Stephens dropped their price target on shares of Mission Produce from $13.00 to $12.00 and set an “overweight” rating for the company in a research note on Friday, December 22nd.

Insider Buying and Selling

In related news, Director Luis A. Gonzalez sold 6,869 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $12.01, for a total transaction of $82,496.69. Following the completion of the transaction, the director now directly owns 7,767,038 shares in the company, valued at approximately $93,282,126.38. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Luis A. Gonzalez sold 6,869 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $12.01, for a total transaction of $82,496.69. Following the sale, the director now owns 7,767,038 shares in the company, valued at approximately $93,282,126.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Luis A. Gonzalez sold 42,008 shares of the stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $12.07, for a total value of $507,036.56. Following the completion of the transaction, the director now owns 7,781,178 shares of the company’s stock, valued at $93,918,818.46. The disclosure for this sale can be found here. Insiders sold a total of 280,834 shares of company stock worth $3,333,705 in the last ninety days. 41.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Mission Produce

Hedge funds and other institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio lifted its stake in shares of Mission Produce by 38.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 2,267 shares of the company’s stock valued at $33,000 after purchasing an additional 629 shares during the period. Lazard Asset Management LLC lifted its stake in Mission Produce by 49.2% in the first quarter. Lazard Asset Management LLC now owns 2,450 shares of the company’s stock valued at $30,000 after buying an additional 808 shares during the period. Signaturefd LLC boosted its holdings in shares of Mission Produce by 638.5% during the 3rd quarter. Signaturefd LLC now owns 2,917 shares of the company’s stock worth $28,000 after buying an additional 2,522 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Mission Produce by 3,991.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 3,437 shares of the company’s stock worth $43,000 after buying an additional 3,353 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in shares of Mission Produce by 68.5% in the 4th quarter. Quadrant Capital Group LLC now owns 3,877 shares of the company’s stock valued at $39,000 after acquiring an additional 1,576 shares in the last quarter. Institutional investors and hedge funds own 63.57% of the company’s stock.

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.