Magnetar Financial LLC Takes $2.80 Million Position in Bunge Global SA (NYSE:BG)

Magnetar Financial LLC bought a new position in shares of Bunge Global SA (NYSE:BG - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 35,995 shares of the basic materials company's stock, valued at approximately $2,799,000.

A number of other hedge funds also recently added to or reduced their stakes in the business. Old West Investment Management LLC boosted its stake in shares of Bunge Global by 6.7% in the 3rd quarter. Old West Investment Management LLC now owns 120,043 shares of the basic materials company's stock valued at $11,601,000 after buying an additional 7,489 shares during the period. Victory Capital Management Inc. raised its holdings in Bunge Global by 2,840.3% in the third quarter. Victory Capital Management Inc. now owns 129,698 shares of the basic materials company's stock valued at $12,534,000 after acquiring an additional 125,287 shares in the last quarter. Caprock Group LLC lifted its stake in Bunge Global by 2.2% in the third quarter. Caprock Group LLC now owns 7,472 shares of the basic materials company's stock worth $722,000 after acquiring an additional 164 shares during the last quarter. Prospera Financial Services Inc lifted its stake in Bunge Global by 5.5% in the third quarter. Prospera Financial Services Inc now owns 4,929 shares of the basic materials company's stock worth $477,000 after acquiring an additional 258 shares during the last quarter. Finally, Banque Cantonale Vaudoise grew its holdings in Bunge Global by 37.6% during the 3rd quarter. Banque Cantonale Vaudoise now owns 4,666 shares of the basic materials company's stock worth $451,000 after acquiring an additional 1,275 shares in the last quarter. 86.23% of the stock is currently owned by institutional investors and hedge funds.

Remove Ads

Bunge Global Stock Performance

BG traded up $0.72 on Tuesday, reaching $73.44. The company had a trading volume of 1,286,910 shares, compared to its average volume of 1,494,483. The company has a quick ratio of 1.27, a current ratio of 2.15 and a debt-to-equity ratio of 0.43. Bunge Global SA has a 1 year low of $67.40 and a 1 year high of $114.92. The stock has a market capitalization of $9.84 billion, a PE ratio of 9.09, a P/E/G ratio of 2.66 and a beta of 0.67. The stock has a 50-day moving average price of $74.26 and a 200-day moving average price of $83.52.

Bunge Global (NYSE:BG - Get Free Report) last posted its earnings results on Wednesday, February 5th. The basic materials company reported $2.13 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.17). Bunge Global had a net margin of 2.14% and a return on equity of 11.73%. As a group, research analysts forecast that Bunge Global SA will post 7.94 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley reduced their price objective on shares of Bunge Global from $90.00 to $74.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 11th. Barclays decreased their price target on Bunge Global from $95.00 to $85.00 and set an "equal weight" rating for the company in a report on Thursday, February 6th. Bank of America dropped their price objective on Bunge Global from $105.00 to $87.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Finally, Stephens decreased their target price on Bunge Global from $110.00 to $105.00 in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.00.

About Bunge Global

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.