Comprehensive Money Management Services LLC reduced its stake in Adecoagro S.A. (NYSE:AGRO – Free Report) by 61.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,392 shares of the company’s stock after selling 35,238 shares during the quarter. Comprehensive Money Management Services LLC’s holdings in Adecoagro were worth $205,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also added to or reduced their stakes in AGRO. Insigneo Advisory Services LLC bought a new stake in Adecoagro in the first quarter worth $1,056,000. Tabor Asset Management LP bought a new position in Adecoagro in the 1st quarter worth about $328,000. Carrera Capital Advisors boosted its stake in Adecoagro by 15.2% in the 1st quarter. Carrera Capital Advisors now owns 108,303 shares of the company’s stock worth $1,210,000 after purchasing an additional 14,268 shares in the last quarter. XTX Topco Ltd bought a new position in Adecoagro in the 1st quarter worth about $320,000. Finally, R Squared Ltd lifted its stake in shares of Adecoagro by 103.0% in the first quarter. R Squared Ltd now owns 15,128 shares of the company’s stock worth $169,000 after buying an additional 7,676 shares in the last quarter. 45.25% of the stock is owned by institutional investors.
Adecoagro Stock Down 2.2%
AGRO stock opened at $7.55 on Friday. Adecoagro S.A. has a fifty-two week low of $7.54 and a fifty-two week high of $11.86. The business’s 50-day moving average is $8.36 and its two-hundred day moving average is $9.25. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.95 and a current ratio of 1.90. The company has a market cap of $754.92 million, a price-to-earnings ratio of 21.57 and a beta of 0.60.
Analysts Set New Price Targets
Several brokerages have recently issued reports on AGRO. Morgan Stanley dropped their target price on shares of Adecoagro from $10.00 to $9.50 and set an “underweight” rating on the stock in a research note on Wednesday, July 16th. Wall Street Zen cut Adecoagro from a “hold” rating to a “sell” rating in a research report on Sunday, September 7th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Adecoagro in a report on Wednesday. Finally, UBS Group lowered their price target on Adecoagro from $9.90 to $8.50 and set a “neutral” rating on the stock in a report on Wednesday, September 3rd. One investment analyst has rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Adecoagro currently has an average rating of “Strong Sell” and an average price target of $9.60.
Get Our Latest Stock Report on Adecoagro
About Adecoagro
Adecoagro SA operates as an agro-industrial company in South America. The company mainly operates through three segments: Farming; Sugar, Ethanol and Energy; and Land Transformation. It engages in farming crops, rice and other agricultural products, dairy operations, and land transformation activities, as well as sugar, ethanol, and energy production activities.
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