Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) shot up 7% during trading on Wednesday . The stock traded as high as $10.81 and last traded at $10.70. 305,500 shares traded hands during trading, an increase of 175% from the average session volume of 111,234 shares. The stock had previously closed at $10.00.

Separately, BidaskClub upgraded Cresud S.A.C.I.F. y A. from a “strong sell” rating to a “sell” rating in a research note on Thursday, May 30th.

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.69 and a quick ratio of 1.58.

A number of hedge funds have recently made changes to their positions in the stock. Newfoundland Capital Management lifted its position in shares of Cresud S.A.C.I.F. y A. by 19.5% during the 4th quarter. Newfoundland Capital Management now owns 5,437,112 shares of the company’s stock worth $66,061,000 after purchasing an additional 887,526 shares during the last quarter. City of London Investment Management Co. Ltd. grew its stake in shares of Cresud S.A.C.I.F. y A. by 23.7% in the 4th quarter. City of London Investment Management Co. Ltd. now owns 1,117,106 shares of the company’s stock valued at $13,562,000 after purchasing an additional 214,106 shares during the period. Macquarie Group Ltd. grew its stake in shares of Cresud S.A.C.I.F. y A. by 4.1% in the 4th quarter. Macquarie Group Ltd. now owns 2,513,344 shares of the company’s stock valued at $30,539,000 after purchasing an additional 99,632 shares during the period. 683 Capital Management LLC grew its stake in shares of Cresud S.A.C.I.F. y A. by 5.5% in the 4th quarter. 683 Capital Management LLC now owns 870,000 shares of the company’s stock valued at $10,570,000 after purchasing an additional 45,686 shares during the period. Finally, BlueCrest Capital Management Ltd bought a new stake in shares of Cresud S.A.C.I.F. y A. in the 1st quarter valued at approximately $262,000. 31.77% of the stock is currently owned by hedge funds and other institutional investors.

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Cresud S.A.C.I.F. y A. Company Profile (NASDAQ:CRESY)

Cresud Sociedad AnĂ³nima Comercial, Inmobiliaria, Financiera y Agropecuaria, an agricultural company, produces basic agricultural commodities in Brazil and other Latin American countries. The Agricultural business is involved in planting, harvesting, and sale of crops, such as wheat, corn, soybean, cotton, and sunflower, as well as sugarcane; breeding, purchasing, and fattening of cattle for sale to slaughterhouses and local livestock auction markets; producing raw milk for sale to local milk and milk-related products producers; the leasing of farms to third parties; the disposal and development of farmlands activities; and feedlot farming, as well as meat slaughtering and processing activities.

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