Insider Buying: Mission Produce (NASDAQ:AVO) Major Shareholder Acquires 15,365 Shares of Stock

Mission Produce, Inc. (NASDAQ:AVO) major shareholder Holdings Venture Globalharvest acquired 15,365 shares of the business’s stock in a transaction dated Wednesday, December 24th. The stock was acquired at an average cost of $11.60 per share, with a total value of $178,234.00. Following the purchase, the insider directly owned 7,399,783 shares in the company, valued at $85,837,482.80. This represents a 0.21% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Holdings Venture Globalharvest also recently made the following trade(s):

• On Monday, December 29th, Holdings Venture Globalharvest purchased 59,761 shares of Mission Produce stock. The stock was acquired at an average cost of $11.60 per share, with a total value of $693,227.60.
• On Friday, December 26th, Holdings Venture Globalharvest acquired 13,679 shares of Mission Produce stock. The stock was purchased at an average price of $11.64 per share, for a total transaction of $159,223.56.
• On Tuesday, December 23rd, Holdings Venture Globalharvest bought 112,505 shares of Mission Produce stock. The shares were purchased at an average price of $11.61 per share, with a total value of $1,306,183.05.
• On Monday, November 10th, Holdings Venture Globalharvest purchased 5,262 shares of Mission Produce stock. The shares were acquired at an average cost of $12.46 per share, with a total value of $65,564.52.
• On Friday, November 7th, Holdings Venture Globalharvest acquired 3,545 shares of Mission Produce stock. The stock was acquired at an average price of $12.03 per share, with a total value of $42,646.35.
• On Thursday, November 6th, Holdings Venture Globalharvest acquired 72,165 shares of Mission Produce stock. The stock was acquired at an average price of $11.94 per share, for a total transaction of $861,650.10.
• On Wednesday, November 5th, Holdings Venture Globalharvest bought 784 shares of Mission Produce stock. The shares were acquired at an average cost of $11.70 per share, for a total transaction of $9,172.80.
• On Tuesday, November 4th, Holdings Venture Globalharvest bought 49,055 shares of Mission Produce stock. The shares were acquired at an average price of $11.69 per share, with a total value of $573,452.95.

Mission Produce Trading Up 0.1%

AVO stock traded up $0.01 on Tuesday, reaching $11.60. The company’s stock had a trading volume of 627,665 shares, compared to its average volume of 528,352. The firm has a market cap of $818.61 million, a PE ratio of 22.31 and a beta of 0.58. The business has a fifty day simple moving average of $12.04 and a two-hundred day simple moving average of $12.17. Mission Produce, Inc. has a 12-month low of $9.56 and a 12-month high of $14.50. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.35 and a current ratio of 1.95.

Mission Produce (NASDAQ:AVO) last posted its earnings results on Thursday, December 18th. The company reported $0.22 EPS for the quarter, missing the consensus estimate of $0.23 by ($0.01). Mission Produce had a return on equity of 8.18% and a net margin of 2.71%.The company had revenue of $319.00 million during the quarter, compared to analysts’ expectations of $301.60 million. During the same period in the prior year, the business posted $0.28 earnings per share. The company’s revenue for the quarter was down 10.0% on a year-over-year basis. As a group, research analysts forecast that Mission Produce, Inc. will post 0.34 EPS for the current year.

Analysts Set New Price Targets

AVO has been the topic of a number of analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Mission Produce in a research note on Wednesday, October 8th. Roth Capital upped their price objective on Mission Produce from $16.00 to $17.00 and gave the company a “buy” rating in a research report on Tuesday, September 9th. Stephens began coverage on Mission Produce in a report on Friday, September 12th. They issued an “overweight” rating and a $17.00 target price for the company. Finally, Zacks Research downgraded Mission Produce from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Mission Produce currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.00.

Hedge Funds Weigh In On Mission Produce

Several institutional investors and hedge funds have recently bought and sold shares of AVO. Quarry LP purchased a new stake in Mission Produce during the 3rd quarter valued at approximately $29,000. GAMMA Investing LLC lifted its holdings in shares of Mission Produce by 673.8% in the third quarter. GAMMA Investing LLC now owns 2,453 shares of the company’s stock worth $29,000 after buying an additional 2,136 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Mission Produce during the third quarter worth $33,000. Tower Research Capital LLC TRC grew its stake in Mission Produce by 211.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,649 shares of the company’s stock valued at $54,000 after acquiring an additional 3,158 shares in the last quarter. Finally, AlphaQuest LLC increased its holdings in Mission Produce by 33.7% in the 3rd quarter. AlphaQuest LLC now owns 4,662 shares of the company’s stock valued at $56,000 after acquiring an additional 1,174 shares during the last quarter. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

Mission Produce Company Profile

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.