Insider Selling: Mission Produce (NASDAQ:AVO) CFO Sells 5,000 Shares

Mission Produce, Inc. (NASDAQ:AVO) CFO Bryan Giles sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, June 29th. The shares were sold at an average price of $12.13, for a total transaction of $60,650.00. Following the completion of the sale, the chief financial officer owned 146,931 shares in the company, valued at approximately $1,782,273.03. The trade was a 3.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Mission Produce Price Performance

Shares of Mission Produce stock traded down $0.20 during midday trading on Monday, hitting $12.06. 1,221,106 shares of the company traded hands, compared to its average volume of 1,100,504. The firm’s fifty day moving average price is $12.20 and its 200-day moving average price is $12.88. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 37.69 and a beta of 0.51. Mission Produce, Inc. has a 12 month low of $10.07 and a 12 month high of $15.53. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.12 and a current ratio of 1.91.

Mission Produce announced that its board has authorized a stock buyback plan on Monday, June 8th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 13.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have commented on AVO shares. Freedom Capital upgraded Mission Produce to a “strong-buy” rating in a research report on Thursday, March 19th. UBS Group set a $16.00 price target on Mission Produce in a report on Wednesday, June 10th. Wall Street Zen lowered shares of Mission Produce from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Finally, Weiss Ratings downgraded shares of Mission Produce from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Mission Produce currently has an average rating of “Moderate Buy” and a consensus target price of $16.67.

Institutional Trading of Mission Produce

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new position in Mission Produce during the 3rd quarter worth about $29,000. Leonteq Securities AG acquired a new stake in shares of Mission Produce in the fourth quarter valued at about $31,000. GAMMA Investing LLC increased its stake in shares of Mission Produce by 87.1% in the fourth quarter. GAMMA Investing LLC now owns 4,589 shares of the company’s stock valued at $53,000 after buying an additional 2,136 shares during the period. Tower Research Capital LLC TRC raised its position in shares of Mission Produce by 211.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,649 shares of the company’s stock worth $54,000 after acquiring an additional 3,158 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in shares of Mission Produce by 466.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 7,035 shares of the company’s stock worth $82,000 after acquiring an additional 5,792 shares during the last quarter. 63.57% of the stock is currently owned by institutional investors and hedge funds.

About Mission Produce

Mission Produce, Inc is a leading global supplier, packer and distributor of fresh avocados, serving retail, foodservice and industrial customers. The company manages a vertically integrated supply chain that spans sourcing, post-harvest handling, packing and ripening. Through proprietary ripening technologies and cold-chain logistics, Mission Produce delivers consistent quality and extended shelf life for its avocado offerings.

Founded in 1983 and headquartered in Oxnard, California, Mission Produce grew from a regional packing operation into a publicly traded company listed on the Nasdaq under the ticker AVO.