Bruce Taylor Purchases 29,717 Shares of Mission Produce (NASDAQ:AVO) Stock

by · The Markets Daily

Mission Produce, Inc. (NASDAQ:AVO – Get Free Report) Director Bruce Taylor acquired 29,717 shares of Mission Produce stock in a transaction on Monday, June 22nd. The shares were bought at an average cost of $11.36 per share, with a total value of $337,585.12. Following the completion of the transaction, the director owned 785,559 shares of the company’s stock, valued at approximately $8,923,950.24. This trade represents a 3.93% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Mission Produce Stock Performance

Shares of NASDAQ:AVO traded up $0.32 on Tuesday, hitting $11.71. The company had a trading volume of 1,484,102 shares, compared to its average volume of 1,082,074. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 36.59 and a beta of 0.51. The stock has a 50 day moving average price of $12.40 and a 200 day moving average price of $12.88. Mission Produce, Inc. has a 1-year low of $10.07 and a 1-year high of $15.53. The company has a current ratio of 1.91, a quick ratio of 1.12 and a debt-to-equity ratio of 0.22.

Mission Produce announced that its board has initiated a share repurchase program on Monday, June 8th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the company to reacquire up to 13.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Hedge Funds Weigh In On Mission Produce

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

Wall Street Analyst Weigh In

Several research firms have weighed in on AVO. UBS Group set a $16.00 price target on shares of Mission Produce in a report on Wednesday, June 10th. Wall Street Zen cut Mission Produce from a “hold” rating to a “sell” rating in a report on Saturday, June 13th. Freedom Capital raised Mission Produce to a “strong-buy” rating in a research report on Thursday, March 19th. Finally, Weiss Ratings lowered Mission Produce from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.67.

Check Out Our Latest Report on AVO

Mission Produce Company Profile

(Get Free Report)

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.

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