AGI Inc (NYSE:AGBK) Stock Short Interest Climbs 93.1%

AGI Inc (NYSE:AGBK) was the recipient of a significant growth in short interest in the month of October. As of October 30th, there was short interest totaling 1,636,720 shares, a growth of 93.1% from the October 15th total of 847,394 shares. Based on an average daily trading volume, of 767,677 shares, the short-interest ratio is presently 2.1 days. Approximately 1.0% of the company’s stock are short sold.

AGI Stock Down 0.1%

AGBK stock traded down $0.01 during trading on Friday, hitting $6.32. 267,103 shares of the company’s stock were exchanged, compared to its average volume of 596,229. The business has a 50-day moving average price of $6.15 and a two-hundred day moving average price of $7.25. The stock has a market capitalization of $1.01 billion and a price-to-earnings ratio of 6.79. AGI has a 52-week low of $4.43 and a 52-week high of $12.21. The company has a current ratio of 1.51, a quick ratio of 1.51 and a debt-to-equity ratio of 0.31.

AGI declared that its Board of Directors has approved a stock buyback plan 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. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at AGI

In related news, CTO Vinicius Birkeland Aloe sold 256,386 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $11.99, for a total value of $3,074,068.14. Following the sale, the chief technology officer owned 176,423 shares of the company’s stock, valued at $2,115,311.77. This trade represents a 59.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Trading of AGI

A hedge fund recently bought a new position in AGI stock. Marshall Wace LLP bought a new stake in AGI Inc (NYSE:AGBK) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 764,873 shares of the company’s stock, valued at approximately $4,406,000. Marshall Wace LLP owned about 0.48% of AGI at the end of the most recent reporting period.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on AGBK shares. Weiss Ratings restated a “sell (d)” rating on shares of AGI in a report on Friday, August 7th. Oppenheimer lowered their target price on shares of AGI from $9.00 to $8.00 and set an “outperform” rating for the company in a research note on Thursday. Finally, The Goldman Sachs Group set a $13.00 target price on AGI in a report on Thursday, August 6th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $14.00.

About AGI

Agibank S.A. is a Brazilian financial services company that combines digital banking with a network of physical service locations. Its offerings include digital accounts, payment services, cards, personal credit and insurance, with a focus on serving individuals across Brazil. The company is particularly known for payroll-deductible loans, including credit products for retirees and public-sector employees. Agibank traces its origins to Agiplan, established in 1999, and adopted the Agibank name as it expanded its digital banking operations.