Private Advisor Group LLC Purchases Shares of 21,000 AgroFresh Solutions, Inc. (AGFS)
Private Advisor Group LLC purchased a new position in shares of AgroFresh Solutions, Inc. (NASDAQ:AGFS) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 21,000 shares of the basic materials company’s stock, valued at approximately $168,000.
Other institutional investors have also made changes to their positions in the company. American Century Companies Inc. purchased a new stake in AgroFresh Solutions during the 2nd quarter worth $1,331,000. Weber Alan W boosted its position in AgroFresh Solutions by 10.8% during the 1st quarter. Weber Alan W now owns 144,061 shares of the basic materials company’s stock worth $630,000 after purchasing an additional 14,061 shares during the period. Dow Chemical Co. DE boosted its position in AgroFresh Solutions by 1.0% during the 2nd quarter. Dow Chemical Co. DE now owns 17,670,356 shares of the basic materials company’s stock worth $126,874,000 after purchasing an additional 170,356 shares during the period. TIAA CREF Investment Management LLC boosted its position in AgroFresh Solutions by 8.9% during the 1st quarter. TIAA CREF Investment Management LLC now owns 69,347 shares of the basic materials company’s stock worth $303,000 after purchasing an additional 5,648 shares during the period. Finally, Acadian Asset Management LLC purchased a new stake in AgroFresh Solutions during the 2nd quarter worth $900,000. 71.72% of the stock is owned by hedge funds and other institutional investors.
AGFS has been the subject of a number of research reports. Citigroup Inc. reaffirmed a “neutral” rating and set a $9.00 price target (up from $6.00) on shares of AgroFresh Solutions in a research report on Wednesday, July 12th. BidaskClub cut shares of AgroFresh Solutions from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st.
Shares of AgroFresh Solutions, Inc. (AGFS) opened at 7.10 on Friday. The stock’s market capitalization is $357.39 million. The company’s 50-day moving average is $7.23 and its 200-day moving average is $6.41. AgroFresh Solutions, Inc. has a 12 month low of $1.96 and a 12 month high of $9.05.
AgroFresh Solutions (NASDAQ:AGFS) last announced its quarterly earnings results on Wednesday, August 9th. The basic materials company reported $0.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.26) by $0.31. AgroFresh Solutions had a negative net margin of 43.81% and a negative return on equity of 0.22%. The company had revenue of $16.39 million for the quarter. Equities research analysts expect that AgroFresh Solutions, Inc. will post $0.11 earnings per share for the current fiscal year.
In other AgroFresh Solutions news, major shareholder Chemical Co /De/ Dow purchased 8,879 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were bought at an average price of $6.99 per share, for a total transaction of $62,064.21. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders have bought 81,041 shares of company stock worth $566,500. 19.40% of the stock is currently owned by company insiders.
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About AgroFresh Solutions
AgroFresh Solutions, Inc, formerly Boulevard Acquisition Corp., is a developer of agricultural technologies that preserve the freshness and value of fresh produce, including apples, pears, kiwifruit, avocados and bananas, as well as flowers. The Company’s principal product, The SmartFresh Quality System (SmartFresh), regulates the post-harvest ripening effects of ethylene, the naturally occurring plant hormone that triggers ripening in certain fruits and vegetables, through technology.
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