OP Asset Management Ltd Buys Shares of 102,064 Mission Produce, Inc. $AVO

OP Asset Management Ltd purchased a new position in Mission Produce, Inc. (NASDAQ:AVO) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 102,064 shares of the company’s stock, valued at approximately $1,404,000. OP Asset Management Ltd owned approximately 0.14% of Mission Produce at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the company. Quarry LP purchased a new position in Mission Produce during the third quarter valued at approximately $29,000. Leonteq Securities AG purchased a new stake in Mission Produce in the 4th quarter worth approximately $31,000. GAMMA Investing LLC boosted its holdings in Mission Produce by 87.1% in the 4th quarter. GAMMA Investing LLC now owns 4,589 shares of the company’s stock valued at $53,000 after purchasing an additional 2,136 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Mission Produce by 211.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,649 shares of the company’s stock valued at $54,000 after purchasing an additional 3,158 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in shares of Mission Produce by 466.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 7,035 shares of the company’s stock valued at $82,000 after purchasing an additional 5,792 shares in the last quarter. 63.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group set a $16.00 price target on shares of Mission Produce in a report on Wednesday, June 10th. Wall Street Zen lowered Mission Produce from a “hold” rating to a “sell” rating in a research note on Saturday, June 13th. Freedom Capital upgraded Mission Produce to a “strong-buy” rating in a research report on Thursday, March 19th. Finally, Weiss Ratings lowered Mission Produce from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Mission Produce currently has an average rating of “Moderate Buy” and a consensus target price of $16.67.

Insider Transactions at Mission Produce

In related news, CFO Bryan E. Giles sold 5,000 shares of the company’s stock in a transaction on Monday, June 29th. The shares were sold at an average price of $12.13, for a total value of $60,650.00. Following the completion of the transaction, the chief financial officer directly owned 146,931 shares in the company, valued at approximately $1,782,273.03. The trade was a 3.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bruce C. Taylor bought 70,283 shares of Mission Produce stock in a transaction that occurred on Tuesday, June 23rd. The stock was purchased at an average cost of $11.25 per share, for a total transaction of $790,683.75. Following the purchase, the director owned 855,842 shares of the company’s stock, valued at $9,628,222.50. The trade was a 8.95% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. In the last ninety days, insiders purchased 889,702 shares of company stock valued at $10,006,901. Insiders own 30.85% of the company’s stock.

Mission Produce Price Performance

AVO stock opened at $12.06 on Tuesday. The company has a debt-to-equity ratio of 0.22, a current ratio of 1.91 and a quick ratio of 1.12. Mission Produce, Inc. has a one year low of $10.07 and a one year high of $15.53. The stock has a market cap of $1.07 billion, a PE ratio of 37.69 and a beta of 0.51. The firm has a 50 day simple moving average of $12.16 and a two-hundred day simple moving average of $12.88.

Mission Produce announced that its board has authorized a share buyback program on Monday, June 8th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the company to buy up to 13.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.