Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) Shares Shorted: Short Interest Down 35.5% in September

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 599,154 shares, a decline of 35.5% from the September 15th total of 929,480 shares. Approximately 1.5% of the company’s shares are sold short. Based on an average daily trading volume, of 350,144 shares, the short-interest ratio is currently 1.7 days.

Cresud S.A.C.I.F. y A. Stock Up 2.1%

Shares of NASDAQ CRESY opened at $11.39 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 0.46. Cresud S.A.C.I.F. y A. has a 52 week low of $8.91 and a 52 week high of $14.21. The business has a fifty day moving average price of $11.63. The stock has a market capitalization of $719.62 million, a P/E ratio of 6.23 and a beta of 0.68.

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) last posted its quarterly earnings results on Saturday, August 15th. The company reported $1.14 EPS for the quarter. The company had revenue of $298.16 million during the quarter. Cresud S.A.C.I.F. y A. had a net margin of 12.93% and a return on equity of 6.18%.

Insider Activity

In related news, Director Fernando Elsztain sold 65,000 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $1.25, for a total transaction of $81,250.00. Following the completion of the sale, the director directly owned 515,736 shares in the company, valued at $644,670. This represents a 11.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Alejandro Elsztain bought 8,295 shares of the company’s stock in a transaction that occurred on Thursday, October 15th. The shares were bought at an average price of $11.18 per share, with a total value of $92,738.10. Following the completion of the acquisition, the director directly owned 1,251,393 shares in the company, valued at $13,990,573.74. This trade represents a 0.67% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders sold 165,000 shares of company stock worth $195,350. Company insiders own 36.20% of the company’s stock.

Hedge Funds Weigh In On Cresud S.A.C.I.F. y A.

Hedge funds have recently modified their holdings of the company. Kopernik Global Investors LLC raised its stake in shares of Cresud S.A.C.I.F. y A. by 4.0% during the first quarter. Kopernik Global Investors LLC now owns 4,415,543 shares of the company’s stock valued at $56,166,000 after acquiring an additional 168,662 shares during the last quarter. OceanIQ Capital LLC purchased a new stake in shares of Cresud S.A.C.I.F. y A. during the second quarter worth about $650,000. R Squared Ltd boosted its holdings in shares of Cresud S.A.C.I.F. y A. by 14.7% during the first quarter. R Squared Ltd now owns 17,534 shares of the company’s stock worth $223,000 after purchasing an additional 2,253 shares during the period. Finally, Acuitas Investments LLC purchased a new stake in shares of Cresud S.A.C.I.F. y A. during the first quarter worth about $127,000. Hedge funds and other institutional investors own 12.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Cresud S.A.C.I.F. y A. from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, October 2nd. One equities research analyst has rated the stock with a Hold rating. According to MarketBeat.com, the company presently has an average rating of “Hold”.

About Cresud S.A.C.I.F. y A.

Cresud SAC.I.F. y A. is an Argentine agricultural company engaged in the acquisition, development, operation and sale of farmland. Its activities include the production of grains and oilseeds, cattle ranching and the management of agricultural properties. The company also develops irrigation, infrastructure and other improvements intended to increase the productivity and value of its land portfolio.

Cresud’s farming operations have included crops such as soybeans, corn, wheat and sunflower, along with livestock production.