AGI Inc’s (NYSE:AGBK) Lock-Up Period Set To End on August 10th

AGI’s (NYSE:AGBK) lock-up period will expire on Monday, August 10th. AGI had issued 20,000,000 shares in its IPO on February 11th. The total size of the offering was $240,000,000 based on an initial share price of $12.00. Shares of the company owned by company insiders and major shareholders will be eligible for trade following the expiration of the lock-up period.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on AGBK. The Goldman Sachs Group set a $13.00 price target on shares of AGI in a research report on Thursday. Itau BBA Securities cut shares of AGI from an “outperform” rating to a “market perform” rating and set a $9.00 target price for the company. in a research note on Wednesday, May 6th. Zacks Research lowered shares of AGI from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. Susquehanna set a $14.00 price target on shares of AGI in a report on Friday, May 8th. Finally, Weiss Ratings assumed coverage on shares of AGI in a research note on Tuesday, May 12th. They issued a “sell (d)” rating for the company. Six investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $15.00.

AGI Stock Down 7.4%

Shares of AGBK stock opened at $6.37 on Friday. AGI has a 12 month low of $6.21 and a 12 month high of $12.21. The firm has a market capitalization of $1.02 billion and a P/E ratio of 20.55. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.34 and a current ratio of 1.34. The company’s 50 day moving average is $6.97.

AGI (NYSE:AGBK) last issued its quarterly earnings data on Tuesday, May 5th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.01. The firm had revenue of $260.00 million during the quarter, compared to analyst estimates of $445.13 million. As a group, equities analysts expect that AGI will post 1.38 EPS for the current fiscal year.

AGI Company Profile

Our mission is to revolutionize financial services for the largest and fastest growing segment of Brazil’s population: individuals who have been underserved by incumbent banks and have not been effectively reached by digital-only banks. We seek to make credit and banking solutions more accessible and affordable for the Brazilian consumers who we believe need it the most, including social security beneficiaries and private and public sector workers. We have designed a unique value proposition for this population, who may be older, have a lower income, be less tech-savvy or have less access to education.