Absolute Gestao de Investimentos Ltda. Has $3.47 Million Stock Holdings in Adecoagro S.A. (NYSE:AGRO)

Absolute Gestao de Investimentos Ltda. lowered its stake in Adecoagro S.A. (NYSE:AGRO) by 5.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 356,680 shares of the company’s stock after selling 22,059 shares during the period. Adecoagro accounts for 1.8% of Absolute Gestao de Investimentos Ltda.’s holdings, making the stock its 14th largest holding. Absolute Gestao de Investimentos Ltda. owned approximately 0.34% of Adecoagro worth $3,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new position in Adecoagro in the 2nd quarter valued at approximately $42,000. Susquehanna Fundamental Investments LLC acquired a new position in Adecoagro in the 1st quarter valued at approximately $128,000. BigSur Wealth Management LLC bought a new position in shares of Adecoagro during the second quarter valued at $175,000. Cornerstone Investment Partners LLC acquired a new position in shares of Adecoagro during the first quarter worth $176,000. Finally, Bailard Inc. bought a new stake in shares of Adecoagro in the second quarter worth $262,000. Institutional investors own 45.25% of the company’s stock.

Adecoagro Trading Up 0.6 %

NYSE AGRO opened at $11.58 on Wednesday. The stock has a market capitalization of $1.21 billion, a P/E ratio of 4.91, a P/E/G ratio of 1.20 and a beta of 1.08. The business has a 50 day simple moving average of $10.55 and a 200 day simple moving average of $10.39. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.42 and a quick ratio of 0.98. Adecoagro S.A. has a one year low of $8.72 and a one year high of $12.51.

Adecoagro (NYSE:AGRO) last posted its quarterly earnings results on Monday, August 12th. The company reported $1.03 earnings per share (EPS) for the quarter. The firm had revenue of $411.42 million for the quarter. Adecoagro had a return on equity of 14.91% and a net margin of 16.28%. Research analysts expect that Adecoagro S.A. will post 1.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on AGRO shares. Bank of America cut their target price on Adecoagro from $15.50 to $14.50 and set a “buy” rating on the stock in a report on Monday, September 9th. JPMorgan Chase & Co. upgraded Adecoagro from an “underweight” rating to a “neutral” rating and upped their target price for the company from $10.50 to $11.50 in a report on Monday, July 1st. Morgan Stanley downgraded shares of Adecoagro from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $14.50 to $12.50 in a research report on Tuesday, September 17th. Finally, StockNews.com lowered shares of Adecoagro from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $12.63.

About Adecoagro

Adecoagro SA operates as an agro-industrial company in South America. The company mainly operates through three segments: Farming; Sugar, Ethanol and Energy; and Land Transformation. It engages in farming crops, rice and other agricultural products, dairy operations, and land transformation activities, as well as sugar, ethanol, and energy production activities.