Insider Buying: Mission Produce (NASDAQ:AVO) Major Shareholder Purchases $3,750,000.00 in Stock

Mission Produce, Inc. (NASDAQ:AVO) major shareholder Holdings Venture Globalharvest bought 300,000 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The stock was purchased at an average price of $12.50 per share, with a total value of $3,750,000.00. Following the completion of the purchase, the insider directly owned 9,461,581 shares of the company’s stock, valued at approximately $118,269,762.50. This trade represents a 3.27% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Major shareholders that own more than 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 Friday, January 16th, Holdings Venture Globalharvest acquired 324,295 shares of Mission Produce stock. The stock was purchased at an average price of $12.37 per share, for a total transaction of $4,011,529.15.
• On Thursday, January 15th, Holdings Venture Globalharvest acquired 985,704 shares of Mission Produce stock. The stock was purchased at an average cost of $11.76 per share, with a total value of $11,591,879.04.
• On Thursday, January 8th, Holdings Venture Globalharvest bought 13,683 shares of Mission Produce stock. The shares were acquired at an average price of $11.96 per share, with a total value of $163,648.68.
• On Wednesday, January 7th, Holdings Venture Globalharvest purchased 7,472 shares of Mission Produce stock. The stock was acquired at an average price of $11.61 per share, for a total transaction of $86,749.92.
• On Monday, December 29th, Holdings Venture Globalharvest purchased 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 Friday, December 26th, Holdings Venture Globalharvest acquired 13,679 shares of Mission Produce stock. The shares were acquired at an average price of $11.64 per share, with a total value of $159,223.56.
• On Wednesday, December 24th, Holdings Venture Globalharvest acquired 15,365 shares of Mission Produce stock. The shares were acquired at an average price of $11.60 per share, for a total transaction of $178,234.00.
• On Tuesday, December 23rd, Holdings Venture Globalharvest bought 112,505 shares of Mission Produce stock. The stock was 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 acquired 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 shares were bought at an average cost of $12.03 per share, with a total value of $42,646.35.

Mission Produce Stock Performance

AVO opened at $13.46 on Friday. Mission Produce, Inc. has a 12-month low of $9.56 and a 12-month high of $14.23. 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 has a market capitalization of $949.87 million, a PE ratio of 25.89 and a beta of 0.56. The firm’s fifty day moving average price is $12.16 and its 200 day moving average price is $12.19.

Mission Produce (NASDAQ:AVO) last announced its quarterly earnings data 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). The company had revenue of $319.00 million for the quarter, compared to analyst estimates of $301.60 million. Mission Produce had a return on equity of 8.18% and a net margin of 2.71%.Mission Produce’s revenue was down 10.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.28 earnings per share. As a group, research analysts expect that Mission Produce, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

AVO has been the topic of a number of research analyst reports. Zacks Research downgraded Mission Produce from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Lake Street Capital restated a “buy” rating on shares of Mission Produce in a research note on Thursday, January 15th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Mission Produce in a report on Wednesday. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $17.00.

Institutional Trading of Mission Produce

Several hedge funds have recently made changes to their positions in AVO. GAMMA Investing LLC boosted its position in Mission Produce by 673.8% during the 3rd quarter. GAMMA Investing LLC now owns 2,453 shares of the company’s stock valued at $29,000 after purchasing an additional 2,136 shares during the period. Quarry LP bought a new stake in Mission Produce in the third quarter valued at $29,000. State of Alaska Department of Revenue acquired a new position in shares of Mission Produce during the third quarter valued at $33,000. Tower Research Capital LLC TRC grew its position in shares of Mission Produce by 211.8% during the second quarter. Tower Research Capital LLC TRC now owns 4,649 shares of the company’s stock worth $54,000 after acquiring an additional 3,158 shares during the last quarter. Finally, AlphaQuest LLC increased its holdings in shares of Mission Produce by 33.7% in the 3rd quarter. AlphaQuest LLC now owns 4,662 shares of the company’s stock worth $56,000 after acquiring an additional 1,174 shares during the period. Institutional investors own 63.57% of the company’s stock.

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.