Mission Produce (NASDAQ:AVO) Sees Large Volume Increase

Shares of Mission Produce, Inc. (NASDAQ:AVO) saw unusually-strong trading volume on Tuesday . Approximately 300,553 shares changed hands during trading, an increase of 43% from the previous session’s volume of 210,385 shares.The stock last traded at $13.14 and had previously closed at $12.99.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AVO shares. Roth Mkm lifted their price target on shares of Mission Produce from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Lake Street Capital restated a “buy” rating and issued a $15.00 target price on shares of Mission Produce in a report on Tuesday, September 10th.

Mission Produce Stock Performance

The firm’s fifty day simple moving average is $10.96 and its 200 day simple moving average is $11.19. The company has a market capitalization of $947.36 million, a price-to-earnings ratio of 53.44 and a beta of 0.47. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.02 and a quick ratio of 1.49.

Insiders Place Their Bets

In other news, Director Luis A. Gonzalez sold 51,615 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $13.28, for a total value of $685,447.20. Following the completion of the sale, the director now owns 7,219,614 shares in the company, valued at $95,876,473.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Mission Produce news, Director Luis A. Gonzalez sold 51,615 shares of Mission Produce stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $13.28, for a total transaction of $685,447.20. Following the transaction, the director now owns 7,219,614 shares of the company’s stock, valued at approximately $95,876,473.92. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jay A. Pack sold 72,054 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $13.30, for a total transaction of $958,318.20. Following the sale, the director now owns 384,823 shares of the company’s stock, valued at $5,118,145.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 173,959 shares of company stock worth $2,299,015. Corporate insiders own 41.60% of the company’s stock.

Hedge Funds Weigh In On Mission Produce

A number of hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC raised its holdings in Mission Produce by 68.5% during the fourth quarter. Quadrant Capital Group LLC now owns 3,877 shares of the company’s stock valued at $39,000 after buying an additional 1,576 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Mission Produce by 15.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 13,932 shares of the company’s stock valued at $166,000 after purchasing an additional 1,870 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Mission Produce by 22.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,498 shares of the company’s stock valued at $123,000 after buying an additional 2,332 shares during the period. XTX Topco Ltd raised its position in Mission Produce by 18.7% in the second quarter. XTX Topco Ltd now owns 19,179 shares of the company’s stock worth $189,000 after purchasing an additional 3,025 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of Mission Produce by 245.2% in the 1st quarter. Lazard Asset Management LLC now owns 4,381 shares of the company’s stock worth $52,000 after buying an additional 3,112 shares in the last quarter. 63.57% of the stock is owned by institutional investors and hedge funds.

Mission Produce Company Profile

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.