Mission Produce (NASDAQ:AVO) Trading Down 5.3% - Here's What Happened

Mission Produce, Inc. (NASDAQ:AVO - Get Free Report)'s stock price traded down 5.3% on Monday . The company traded as low as $13.35 and last traded at $13.35. 174,338 shares were traded during mid-day trading, a decline of 58% from the average session volume of 416,175 shares. The stock had previously closed at $14.10.

Analyst Upgrades and Downgrades

AVO has been the subject of a number of research reports. Roth Mkm boosted their target price on shares of Mission Produce from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Wednesday, September 11th. Lake Street Capital reissued a "buy" rating and issued a $15.00 price objective on shares of Mission Produce in a report on Tuesday, September 10th.

Mission Produce Stock Performance

The company has a current ratio of 2.02, a quick ratio of 1.40 and a debt-to-equity ratio of 0.28. The firm's fifty day moving average price is $13.29 and its two-hundred day moving average price is $11.94. The stock has a market capitalization of $936.08 million, a PE ratio of 40.00 and a beta of 0.50.

Insiders Place Their Bets

In other Mission Produce news, Director Jay A. Pack sold 59,165 shares of the company's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $14.70, for a total transaction of $869,725.50. Following the completion of the transaction, the director now directly owns 1,015,160 shares in the company, valued at approximately $14,922,852. This represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Stephen J. Barnard sold 7,032 shares of Mission Produce stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $14.51, for a total transaction of $102,034.32. Following the completion of the sale, the chief executive officer now owns 1,787,450 shares in the company, valued at approximately $25,935,899.50. This trade represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 223,322 shares of company stock worth $3,245,105. Company insiders own 41.60% of the company's stock.

Institutional Investors Weigh In On Mission Produce

Several large investors have recently bought and sold shares of AVO. Barclays PLC increased its position in shares of Mission Produce by 308.8% during the third quarter. Barclays PLC now owns 67,092 shares of the company's stock worth $860,000 after purchasing an additional 50,680 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Mission Produce by 8.0% during the third quarter. The Manufacturers Life Insurance Company now owns 66,303 shares of the company's stock worth $850,000 after buying an additional 4,894 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Mission Produce in the third quarter valued at about $1,295,000. Jane Street Group LLC lifted its stake in shares of Mission Produce by 171.9% in the third quarter. Jane Street Group LLC now owns 158,257 shares of the company's stock worth $2,029,000 after buying an additional 100,055 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Mission Produce by 25.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,327,266 shares of the company's stock worth $13,113,000 after acquiring an additional 266,489 shares during the last quarter. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

About Mission Produce

Mission Produce, Inc engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.