Martingale Asset Management L P Makes New Investment in Mission Produce, Inc. (NASDAQ:AVO)

Martingale Asset Management L P purchased a new position in shares of Mission Produce, Inc. (NASDAQ:AVO) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 10,068 shares of the company’s stock, valued at approximately $129,000.

Other hedge funds have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Mission Produce during the 3rd quarter worth $1,295,000. Dimensional Fund Advisors LP grew its holdings in shares of Mission Produce by 25.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,327,266 shares of the company’s stock worth $13,113,000 after purchasing an additional 266,489 shares during the period. Wedge Capital Management L L P NC purchased a new position in shares of Mission Produce during the 3rd quarter worth $955,000. American Century Companies Inc. grew its holdings in shares of Mission Produce by 16.5% during the 2nd quarter. American Century Companies Inc. now owns 70,511 shares of the company’s stock worth $697,000 after purchasing an additional 10,000 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Mission Produce by 15.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 13,932 shares of the company’s stock worth $166,000 after purchasing an additional 1,870 shares during the period. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Mission Produce

In other Mission Produce news, Director Jay A. Pack sold 22,000 shares of Mission Produce stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $13.41, for a total value of $295,020.00. Following the transaction, the director now directly owns 1,115,160 shares in the company, valued at approximately $14,954,295.60. This trade represents a 1.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Luis A. Gonzalez sold 49,331 shares of Mission Produce stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $13.03, for a total value of $642,782.93. Following the completion of the transaction, the director now owns 7,398,902 shares in the company, valued at $96,407,693.06. This trade represents a 0.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 296,059 shares of company stock worth $3,920,360. 41.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Lake Street Capital reiterated a “buy” rating and set a $15.00 price target on shares of Mission Produce in a report on Tuesday, September 10th. Roth Mkm raised their target price on Mission Produce from $14.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, September 11th.

Mission Produce Price Performance

AVO stock opened at $12.73 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.02 and a quick ratio of 1.40. The firm has a market capitalization of $902.68 million, a P/E ratio of 38.58 and a beta of 0.54. The business’s 50-day moving average is $12.71 and its two-hundred day moving average is $11.60. Mission Produce, Inc. has a 1 year low of $8.76 and a 1 year high of $14.17.

Mission Produce (NASDAQ:AVO) last released its quarterly earnings results on Monday, September 9th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.23. The company had revenue of $324.00 million for the quarter, compared to analyst estimates of $229.90 million. Mission Produce had a return on equity of 6.69% and a net margin of 2.06%. Analysts anticipate that Mission Produce, Inc. will post 0.39 earnings per share for the current fiscal year.

Mission Produce Company Profile

Mission Produce, Inc engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.