Adecoagro (NYSE:AGRO) Trading Down 7% After Insider Selling

Adecoagro S.A. (NYSE:AGRO)’s share price was down 7% on Monday following insider selling activity. The company traded as low as $13.10 and last traded at $13.1270. Approximately 603,821 shares changed hands during trading, a decline of 42% from the average daily volume of 1,040,548 shares. The stock had previously closed at $14.11.

Specifically, CEO Mariano Bosch sold 100,000 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $14.50, for a total transaction of $1,450,000.00. Following the transaction, the chief executive officer directly owned 897,249 shares of the company’s stock, valued at approximately $13,010,110.50. The trade was a 10.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Analyst Ratings Changes

AGRO has been the subject of a number of recent analyst reports. Truist Financial set a $9.00 price target on shares of Adecoagro in a report on Friday, January 9th. Morgan Stanley raised shares of Adecoagro from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $9.50 to $13.00 in a research report on Tuesday, March 17th. Zacks Research downgraded Adecoagro from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 9th. Bank of America raised Adecoagro from an “underperform” rating to a “neutral” rating and set a $9.00 target price on the stock in a research report on Friday, January 9th. Finally, Weiss Ratings upgraded Adecoagro from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, March 4th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Adecoagro currently has a consensus rating of “Hold” and a consensus price target of $9.20.

Adecoagro Stock Up 6.0%

The stock has a market capitalization of $1.40 billion, a price-to-earnings ratio of -174.69, a PEG ratio of 0.27 and a beta of 0.44. The firm’s fifty day moving average is $9.65 and its 200-day moving average is $8.53. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.38 and a quick ratio of 0.82.

Adecoagro (NYSE:AGRO) last posted its quarterly earnings data on Monday, March 16th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.07). The company had revenue of $415.94 million for the quarter, compared to the consensus estimate of $371.95 million. Adecoagro had a negative net margin of 0.55% and a negative return on equity of 1.17%. On average, sell-side analysts predict that Adecoagro S.A. will post 1.24 earnings per share for the current year.

Hedge Funds Weigh In On Adecoagro

Large investors have recently modified their holdings of the stock. Sparta 24 Ltd. increased its holdings in Adecoagro by 4.8% in the third quarter. Sparta 24 Ltd. now owns 2,200,278 shares of the company’s stock valued at $17,250,000 after buying an additional 100,000 shares during the last quarter. Invesco Ltd. lifted its holdings in Adecoagro by 86.5% during the 2nd quarter. Invesco Ltd. now owns 458,693 shares of the company’s stock worth $4,192,000 after buying an additional 212,685 shares during the last quarter. Ghisallo Capital Management LLC acquired a new position in shares of Adecoagro in the 4th quarter worth approximately $2,987,000. Ameriprise Financial Inc. increased its holdings in shares of Adecoagro by 32.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 370,391 shares of the company’s stock valued at $3,385,000 after acquiring an additional 90,518 shares during the last quarter. Finally, HRT Financial LP increased its holdings in shares of Adecoagro by 13.4% in the 4th quarter. HRT Financial LP now owns 312,828 shares of the company’s stock valued at $2,480,000 after acquiring an additional 36,857 shares during the last quarter. Institutional investors own 45.25% of the company’s stock.

About Adecoagro

Adecoagro (NYSE: AGRO) is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.

The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.