Mission Produce (NASDAQ:AVO) Director Buys $3,387,000.00 in Stock

Mission Produce, Inc. (NASDAQ:AVO) Director Bruce Taylor purchased 300,000 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was acquired at an average cost of $11.29 per share, with a total value of $3,387,000.00. Following the completion of the acquisition, the director directly owned 455,842 shares in the company, valued at approximately $5,146,456.18. This trade represents a 192.50% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Mission Produce Price Performance

Shares of NASDAQ:AVO opened at $12.26 on Friday. The company has a market cap of $1.08 billion, a PE ratio of 38.31 and a beta of 0.50. Mission Produce, Inc. has a fifty-two week low of $10.07 and a fifty-two week high of $15.53. The firm has a 50-day simple moving average of $12.20 and a 200 day simple moving average of $12.87. The company has a quick ratio of 1.12, a current ratio of 1.91 and a debt-to-equity ratio of 0.22.

Mission Produce declared that its Board of Directors has approved a share buyback plan on Monday, June 8th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to purchase up to 13.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Mission Produce

Institutional investors and hedge funds have recently bought and sold shares of the stock. AQR Capital Management LLC raised its position in shares of Mission Produce by 228.4% during the 1st quarter. AQR Capital Management LLC now owns 95,816 shares of the company’s stock worth $1,004,000 after buying an additional 66,640 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Mission Produce by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 25,825 shares of the company’s stock worth $271,000 after acquiring an additional 1,092 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Mission Produce by 10.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 163,304 shares of the company’s stock valued at $1,711,000 after acquiring an additional 15,076 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of Mission Produce by 179.7% in the first quarter. Jane Street Group LLC now owns 65,813 shares of the company’s stock valued at $690,000 after acquiring an additional 42,284 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of Mission Produce during the first quarter valued at approximately $581,000. Institutional investors own 63.57% of the company’s stock.

Analyst Ratings Changes

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

About Mission Produce

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.