Insider Selling: Mission Produce, Inc. (NASDAQ:AVO) Director Sells $869,725.50 in Stock

Mission Produce, Inc. (NASDAQ:AVO) Director Jay A. Pack sold 59,165 shares of Mission Produce stock in a transaction on Friday, December 20th. The stock was sold at an average price of $14.70, for a total transaction of $869,725.50. Following the sale, the director now directly owns 1,015,160 shares of the company’s stock, valued at approximately $14,922,852. This trade represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Mission Produce Trading Down 1.4 %

Shares of Mission Produce stock opened at $14.25 on Friday. The company has a current ratio of 2.02, a quick ratio of 1.40 and a debt-to-equity ratio of 0.28. The company has a fifty day simple moving average of $13.05 and a 200-day simple moving average of $11.79. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 43.18 and a beta of 0.54. Mission Produce, Inc. has a 12-month low of $9.54 and a 12-month high of $15.25.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Roth Mkm raised their price target on Mission Produce from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Lake Street Capital reissued a “buy” rating and set a $15.00 target price on shares of Mission Produce in a research report on Tuesday, September 10th.

Institutional Investors Weigh In On Mission Produce

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Mission Produce by 8.0% in the third quarter. The Manufacturers Life Insurance Company now owns 66,303 shares of the company’s stock valued at $850,000 after acquiring an additional 4,894 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Mission Produce in the 3rd quarter valued at $1,295,000. Jane Street Group LLC raised its position in Mission Produce by 171.9% in the 3rd quarter. Jane Street Group LLC now owns 158,257 shares of the company’s stock valued at $2,029,000 after purchasing an additional 100,055 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Mission Produce by 25.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,327,266 shares of the company’s stock worth $13,113,000 after purchasing an additional 266,489 shares during the period. Finally, Wedge Capital Management L L P NC purchased a new position in Mission Produce during the 3rd quarter worth $955,000. 63.57% of the stock is owned by hedge funds and other institutional investors.

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.