AGI (NYSE:AGBK) Shares Cross Below 200-Day Moving Average – Time to Sell?

AGI Inc (NYSE:AGBK) passed below its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $7.43 and traded as low as $4.43. AGI shares last traded at $4.7440, with a volume of 3,391,173 shares.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Zacks Research lowered shares of AGI from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. Weiss Ratings reissued a “sell (d)” rating on shares of AGI in a research report on Friday, August 7th. The Goldman Sachs Group set a $13.00 target price on shares of AGI in a research report on Thursday, August 6th. Finally, Oppenheimer cut their price target on shares of AGI from $10.00 to $9.00 and set an “outperform” rating on the stock in a report on Friday, August 7th. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $14.14.

AGI Stock Up 4.4%

The business’s 50 day simple moving average is $6.39 and its 200-day simple moving average is $7.38. The company has a market cap of $814.68 million and a price-to-earnings ratio of 8.63. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 1.51.

AGI declared that its board has authorized a share buyback program on Tuesday, October 27th that authorizes the company to buy back 3,000,000 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Share repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other AGI news, CTO Vinicius Birkeland Aloe sold 256,386 shares of the business’s stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $11.99, for a total value of $3,074,068.14. Following the transaction, the chief technology officer owned 176,423 shares in the company, valued at $2,115,311.77. The trade was a 59.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

AGI Company Profile

Our mission is to revolutionize financial services for the largest and fastest growing segment of Brazil’s population: individuals who have been underserved by incumbent banks and have not been effectively reached by digital-only banks. We seek to make credit and banking solutions more accessible and affordable for the Brazilian consumers who we believe need it the most, including social security beneficiaries and private and public sector workers. We have designed a unique value proposition for this population, who may be older, have a lower income, be less tech-savvy or have less access to education.