AGI (NYSE:AGBK) Stock Gets Price Target Cut from Oppenheimer

AGI (NYSE:AGBK) had its target price lowered by Oppenheimer from $9.00 to $8.00 in a report released on Thursday morning,Benzinga reports. Oppenheimer currently has an outperform rating on the stock.

AGBK has been the topic of a number of other reports. Zacks Research downgraded AGI from a “hold” rating to a “strong sell” rating in a report on Thursday, July 16th. The Goldman Sachs Group set a $13.00 price target on AGI in a research report on Thursday, August 6th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of AGI in a research note on Friday, August 7th. Six analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $14.00.

AGI Stock Down 0.1%

NYSE:AGBK traded down $0.01 during trading hours on Thursday, reaching $6.32. The company’s stock had a trading volume of 267,103 shares, compared to its average volume of 596,229. The company has a market capitalization of $1.01 billion and a P/E ratio of 6.79. AGI has a 12 month low of $4.43 and a 12 month high of $12.21. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.51 and a current ratio of 1.51. The stock has a 50 day moving average price of $6.15 and a two-hundred day moving average price of $7.25.

AGI declared that its board has approved a stock repurchase program on Tuesday, October 27th that permits the company to repurchase 3,000,000 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, CTO Vinicius Birkeland Aloe sold 256,386 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $11.99, for a total transaction of $3,074,068.14. Following the completion of the sale, the chief technology officer owned 176,423 shares of the company’s stock, valued at $2,115,311.77. This represents a 59.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Hedge Funds Weigh In On AGI

An institutional investor recently bought a new stake in AGI stock. Marshall Wace LLP purchased a new position in shares of AGI Inc (NYSE:AGBK) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 764,873 shares of the company’s stock, valued at approximately $4,406,000. Marshall Wace LLP owned approximately 0.48% of AGI at the end of the most recent quarter.

AGI Company Profile

Agibank S.A. is a Brazilian financial services company that combines digital banking with a network of physical service locations. Its offerings include digital accounts, payment services, cards, personal credit and insurance, with a focus on serving individuals across Brazil. The company is particularly known for payroll-deductible loans, including credit products for retirees and public-sector employees. Agibank traces its origins to Agiplan, established in 1999, and adopted the Agibank name as it expanded its digital banking operations.