Mission Produce (NASDAQ:AVO) Shares Gap Down – What’s Next?

Mission Produce, Inc. (NASDAQ:AVO) shares gapped down prior to trading on Tuesday . The stock had previously closed at $11.81, but opened at $10.32. Mission Produce shares last traded at $9.88, with a volume of 147,946 shares trading hands.

Mission Produce Price Performance

The firm has a market capitalization of $737.73 million, a P/E ratio of 20.35 and a beta of 0.47. The stock’s fifty day simple moving average is $12.11 and its 200 day simple moving average is $12.50. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.87 and a quick ratio of 1.26.

Insider Buying and Selling

In related news, Director Jay A. Pack sold 59,165 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $14.70, for a total transaction of $869,725.50. Following the transaction, the director now directly owns 1,015,160 shares of the company’s stock, valued at $14,922,852. This represents a 5.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Stephen J. Barnard sold 7,032 shares of the firm’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $14.51, for a total value of $102,034.32. Following the completion of the sale, the chief executive officer now directly owns 1,787,450 shares of the company’s stock, valued at approximately $25,935,899.50. This represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 224,252 shares of company stock worth $3,256,786 in the last 90 days. 35.41% of the stock is owned by corporate insiders.

Institutional Trading of Mission Produce

Large investors have recently bought and sold shares of the stock. Ameriflex Group Inc. acquired a new stake in shares of Mission Produce during the fourth quarter worth $57,000. Mackenzie Financial Corp purchased a new position in Mission Produce in the 4th quarter worth $571,000. PharVision Advisers LLC acquired a new stake in Mission Produce during the 4th quarter worth about $289,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Mission Produce by 60.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 148,228 shares of the company’s stock valued at $2,130,000 after purchasing an additional 55,975 shares during the last quarter. Finally, Squarepoint Ops LLC increased its holdings in shares of Mission Produce by 36.9% in the fourth quarter. Squarepoint Ops LLC now owns 68,422 shares of the company’s stock valued at $983,000 after purchasing an additional 18,431 shares during the period. Hedge funds and other institutional investors own 63.57% of the company’s stock.

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.