Insider Buying: Mission Produce (NASDAQ:AVO) Major Shareholder Buys $178,234.00 in Stock

Mission Produce, Inc. (NASDAQ:AVO) major shareholder Holdings Venture Globalharvest purchased 15,365 shares of the business’s stock in a transaction that occurred on Wednesday, December 24th. The stock was bought at an average cost of $11.60 per share, with a total value of $178,234.00. Following the acquisition, the insider owned 7,399,783 shares in the company, valued at $85,837,482.80. This represents a 0.21% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 acquired 59,761 shares of Mission Produce stock. The shares were bought at an average cost of $11.60 per share, for a total transaction of $693,227.60.
• On Friday, December 26th, Holdings Venture Globalharvest bought 13,679 shares of Mission Produce stock. The stock was bought 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 bought at an average cost 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 bought at an average price of $12.46 per share, with a total value of $65,564.52.
• On Friday, November 7th, Holdings Venture Globalharvest purchased 3,545 shares of Mission Produce stock. The stock was bought at an average cost of $12.03 per share, for a total transaction of $42,646.35.
• On Thursday, November 6th, Holdings Venture Globalharvest acquired 72,165 shares of Mission Produce stock. The stock was purchased at an average price of $11.94 per share, for a total transaction of $861,650.10.
• On Wednesday, November 5th, Holdings Venture Globalharvest acquired 784 shares of Mission Produce stock. The shares were purchased at an average price of $11.70 per share, with a total value of $9,172.80.
• On Tuesday, November 4th, Holdings Venture Globalharvest bought 49,055 shares of Mission Produce stock. The shares were purchased at an average cost of $11.69 per share, with a total value of $573,452.95.

Mission Produce Stock Performance

NASDAQ AVO opened at $11.60 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.95 and a quick ratio of 1.35. The stock’s 50 day simple moving average is $12.03 and its 200-day simple moving average is $12.17. The company has a market cap of $818.61 million, a PE ratio of 22.31 and a beta of 0.56. Mission Produce, Inc. has a 1-year low of $9.56 and a 1-year high of $14.50.

Mission Produce (NASDAQ:AVO) last issued its quarterly 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). The firm had revenue of $319.00 million for the quarter, compared to analysts’ expectations of $301.60 million. Mission Produce had a return on equity of 8.18% and a net margin of 2.71%.The firm’s revenue for the quarter was down 10.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.28 earnings per share. As a group, equities research analysts anticipate that Mission Produce, Inc. will post 0.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Mission Produce by 4.4% during the first 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 last quarter. AlphaQuest LLC increased its position in shares of Mission Produce by 33.7% during the 3rd quarter. AlphaQuest LLC now owns 4,662 shares of the company’s stock worth $56,000 after purchasing an additional 1,174 shares during the last quarter. Magnetar Financial LLC raised its holdings in Mission Produce by 12.6% in the 3rd quarter. Magnetar Financial LLC now owns 12,106 shares of the company’s stock valued at $146,000 after buying an additional 1,351 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Mission Produce by 12.2% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 15,375 shares of the company’s stock valued at $185,000 after buying an additional 1,667 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Mission Produce by 12.3% in the second quarter. The Manufacturers Life Insurance Company now owns 18,598 shares of the company’s stock valued at $218,000 after buying an additional 2,040 shares during the last quarter. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on AVO. Stephens assumed coverage on shares of Mission Produce in a research note on Friday, September 12th. They set an “overweight” rating and a $17.00 price objective for the company. Weiss Ratings restated a “hold (c)” rating on shares of Mission Produce in a report on Wednesday, October 8th. Zacks Research cut Mission Produce from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Finally, Roth Capital lifted their price objective on Mission Produce from $16.00 to $17.00 and gave the stock a “buy” rating in a research report on Tuesday, September 9th. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $17.00.

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.