Insider Buying: Mission Produce (NASDAQ:AVO) Major Shareholder Purchases $159,223.56 in Stock

Mission Produce, Inc. (NASDAQ:AVO) major shareholder Holdings Venture Globalharvest bought 13,679 shares of Mission Produce stock in a transaction dated Friday, December 26th. The stock was acquired at an average price of $11.64 per share, with a total value of $159,223.56. Following the purchase, the insider directly owned 7,413,462 shares of the company’s stock, valued at approximately $86,292,697.68. This represents a 0.18% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own at least 10% of a company’s stock 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 stock was acquired at an average cost of $11.60 per share, with a total value of $693,227.60.
• On Wednesday, December 24th, Holdings Venture Globalharvest acquired 15,365 shares of Mission Produce stock. The stock was acquired at an average price of $11.60 per share, with a total value of $178,234.00.
• On Tuesday, December 23rd, Holdings Venture Globalharvest bought 112,505 shares of Mission Produce stock. The shares were acquired at an average cost of $11.61 per share, for a total transaction of $1,306,183.05.
• On Monday, November 10th, Holdings Venture Globalharvest bought 5,262 shares of Mission Produce stock. The shares were bought at an average price of $12.46 per share, for a total transaction 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, with a total value of $42,646.35.
• On Thursday, November 6th, Holdings Venture Globalharvest purchased 72,165 shares of Mission Produce stock. The stock was bought at an average price of $11.94 per share, with a total value of $861,650.10.
• On Wednesday, November 5th, Holdings Venture Globalharvest acquired 784 shares of Mission Produce stock. The shares were bought at an average price of $11.70 per share, for a total transaction of $9,172.80.
• On Tuesday, November 4th, Holdings Venture Globalharvest acquired 49,055 shares of Mission Produce stock. The shares were bought at an average cost of $11.69 per share, for a total transaction of $573,452.95.

Mission Produce Price Performance

Shares of NASDAQ AVO opened at $11.60 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.95 and a debt-to-equity ratio of 0.19. The company has a market cap of $818.61 million, a P/E ratio of 22.31 and a beta of 0.56. Mission Produce, Inc. has a 52 week low of $9.56 and a 52 week high of $14.50. The business has a 50-day simple moving average of $12.03 and a two-hundred day simple moving average of $12.17.

Mission Produce (NASDAQ:AVO) last announced its quarterly earnings results on Thursday, December 18th. The company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.23 by ($0.01). Mission Produce had a net margin of 2.71% and a return on equity of 8.18%. The company had revenue of $319.00 million for the quarter, compared to the consensus estimate of $301.60 million. During the same quarter in the prior year, the company earned $0.28 earnings per share. The company’s quarterly revenue was down 10.0% on a year-over-year basis. Research analysts anticipate that Mission Produce, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Mission Produce

A number of hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. bought a new position in Mission Produce in the third quarter valued at $629,000. PharVision Advisers LLC purchased a new position in shares of Mission Produce in the 3rd quarter worth about $210,000. Virtus Advisers LLC bought a new position in shares of Mission Produce during the 3rd quarter valued at about $95,000. Quarry LP purchased a new position in shares of Mission Produce during the 3rd quarter valued at about $29,000. Finally, Qube Research & Technologies Ltd raised its holdings in shares of Mission Produce by 27.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 342,264 shares of the company’s stock valued at $4,114,000 after buying an additional 73,223 shares in the last quarter. 63.57% of the stock is owned by institutional investors.

Mission Produce Company Profile

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.