Adecoagro (NYSE:AGRO) Shares Gap Down – Here’s What Happened

Shares of Adecoagro S.A. (NYSE:AGRO) gapped down before the market opened on Wednesday . The stock had previously closed at $15.03, but opened at $13.87. Adecoagro shares last traded at $14.2760, with a volume of 516,872 shares.

Wall Street Analyst Weigh In

Several analysts have commented on AGRO shares. UBS Group upgraded shares of Adecoagro from a “neutral” rating to a “buy” rating and raised their target price for the stock from $8.00 to $16.20 in a report on Monday, March 30th. Zacks Research cut shares of Adecoagro from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Citigroup assumed coverage on shares of Adecoagro in a research note on Monday, February 16th. They set a “buy” rating for the company. Bank of America raised shares of Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 price target for the company in a research note on Friday, January 9th. Finally, Wall Street Zen raised shares of Adecoagro from a “sell” rating to a “hold” rating in a research note on Saturday. Two analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.84.

Adecoagro Stock Down 5.2%

The company has a debt-to-equity ratio of 0.77, a current ratio of 1.38 and a quick ratio of 0.82. The firm’s 50 day moving average is $10.88 and its two-hundred day moving average is $9.01. The firm has a market capitalization of $1.43 billion, a P/E ratio of -177.98, a PEG ratio of 0.31 and a beta of 0.08.

Adecoagro (NYSE:AGRO) last released its earnings results on Saturday, February 14th. The company reported ($0.15) earnings per share for the quarter. Adecoagro had a negative net margin of 0.55% and a negative return on equity of 1.17%. The firm had revenue of $432.91 million during the quarter. Research analysts predict that Adecoagro S.A. will post 1.24 EPS for the current year.

Insider Buying and Selling

In other Adecoagro news, CEO Mariano Bosch sold 100,000 shares of Adecoagro stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $14.50, for a total transaction of $1,450,000.00. Following the completion of the transaction, the chief executive officer directly owned 897,249 shares of the company’s stock, valued at $13,010,110.50. The trade was a 10.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Adecoagro

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AGRO. Goldman Sachs Group Inc. boosted its position in Adecoagro by 48.4% during the first quarter. Goldman Sachs Group Inc. now owns 86,739 shares of the company’s stock worth $969,000 after purchasing an additional 28,275 shares during the period. Jane Street Group LLC boosted its position in Adecoagro by 20.5% during the first quarter. Jane Street Group LLC now owns 189,055 shares of the company’s stock worth $2,112,000 after purchasing an additional 32,169 shares during the period. Quantbot Technologies LP boosted its position in Adecoagro by 113.8% during the second quarter. Quantbot Technologies LP now owns 57,490 shares of the company’s stock worth $525,000 after purchasing an additional 30,602 shares during the period. Invesco Ltd. boosted its position in Adecoagro by 86.5% during the second quarter. Invesco Ltd. now owns 458,693 shares of the company’s stock worth $4,192,000 after purchasing an additional 212,685 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in Adecoagro by 32.3% during the second quarter. Ameriprise Financial Inc. now owns 370,391 shares of the company’s stock worth $3,385,000 after purchasing an additional 90,518 shares during the period. 45.25% of the stock is owned by institutional investors.

Adecoagro Company Profile

Adecoagro (NYSE: AGRO) is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.

The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.