Mission Produce (NASDAQ:AVO) Major Shareholder Purchases $178,234.00 in Stock

Mission Produce, Inc. (NASDAQ:AVO) major shareholder Holdings Venture Globalharvest bought 15,365 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The shares were bought at an average cost of $11.60 per share, for a total transaction of $178,234.00. Following the completion of the purchase, the insider owned 7,399,783 shares of the company’s stock, valued at $85,837,482.80. This represents a 0.21% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Holdings Venture Globalharvest also recently made the following trade(s):

• On Monday, December 29th, Holdings Venture Globalharvest acquired 59,761 shares of Mission Produce stock. The shares were bought at an average price of $11.60 per share, for a total transaction of $693,227.60.
• On Friday, December 26th, Holdings Venture Globalharvest bought 13,679 shares of Mission Produce stock. The stock was purchased at an average price of $11.64 per share, with a total value of $159,223.56.
• On Tuesday, December 23rd, Holdings Venture Globalharvest purchased 112,505 shares of Mission Produce stock. The shares were purchased at an average cost of $11.61 per share, for a total transaction of $1,306,183.05.
• On Monday, November 10th, Holdings Venture Globalharvest acquired 5,262 shares of Mission Produce stock. The stock was purchased at an average price of $12.46 per share, with a total value of $65,564.52.
• On Friday, November 7th, Holdings Venture Globalharvest purchased 3,545 shares of Mission Produce stock. The shares were acquired at an average cost of $12.03 per share, with a total value of $42,646.35.
• On Thursday, November 6th, Holdings Venture Globalharvest acquired 72,165 shares of Mission Produce stock. The stock was acquired at an average cost of $11.94 per share, for a total transaction of $861,650.10.
• On Wednesday, November 5th, Holdings Venture Globalharvest acquired 784 shares of Mission Produce stock. The shares were bought at an average price of $11.70 per share, with a total value of $9,172.80.
• On Tuesday, November 4th, Holdings Venture Globalharvest bought 49,055 shares of Mission Produce stock. The shares were bought at an average cost of $11.69 per share, with a total value of $573,452.95.

Mission Produce Stock Performance

Shares of NASDAQ AVO traded up $0.01 during trading on Tuesday, reaching $11.60. 627,665 shares of the stock traded hands, compared to its average volume of 528,352. The company has a 50-day moving average of $12.04 and a 200-day moving average of $12.17. Mission Produce, Inc. has a 52-week low of $9.56 and a 52-week high of $14.50. The stock has a market capitalization of $818.61 million, a P/E ratio of 22.31 and a beta of 0.58. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.95 and a quick ratio of 1.35.

Mission Produce (NASDAQ:AVO) last released its quarterly earnings data on Thursday, December 18th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). The business had revenue of $319.00 million for the quarter, compared to analysts’ expectations of $301.60 million. Mission Produce had a net margin of 2.71% and a return on equity of 8.18%. Mission Produce’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same period last year, the company earned $0.28 earnings per share. Analysts forecast that Mission Produce, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on AVO shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Mission Produce in a research report on Wednesday, October 8th. Zacks Research cut shares of Mission Produce from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Stephens started coverage on Mission Produce in a research note on Friday, September 12th. They set an “overweight” rating and a $17.00 price objective for the company. Finally, Roth Capital boosted their target price on Mission Produce from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Nuveen LLC purchased a new stake in Mission Produce during the first quarter valued at about $1,137,000. AlphaQuest LLC increased its position in shares of Mission Produce by 1,513,200.0% during the 1st quarter. AlphaQuest LLC now owns 15,133 shares of the company’s stock valued at $159,000 after purchasing an additional 15,132 shares during the last quarter. Comerica Bank raised its holdings in shares of Mission Produce by 31.3% during the 1st quarter. Comerica Bank now owns 29,177 shares of the company’s stock valued at $306,000 after buying an additional 6,962 shares in the last quarter. Trexquant Investment LP raised its holdings in shares of Mission Produce by 31.7% during the 1st quarter. Trexquant Investment LP now owns 266,020 shares of the company’s stock valued at $2,788,000 after buying an additional 64,045 shares in the last quarter. Finally, Magnetar Financial LLC bought a new stake in Mission Produce in the 1st quarter worth approximately $401,000. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

About Mission Produce

Mission Produce, Inc is a leading global supplier, packer and distributor of fresh avocados, serving retail, foodservice and industrial customers. The company manages a vertically integrated supply chain that spans sourcing, post-harvest handling, packing and ripening. Through proprietary ripening technologies and cold-chain logistics, Mission Produce delivers consistent quality and extended shelf life for its avocado offerings.

Founded in 1983 and headquartered in Oxnard, California, Mission Produce grew from a regional packing operation into a publicly traded company listed on the Nasdaq under the ticker AVO.