Deltec Asset Management LLC boosted its stake in Adecoagro SA (NYSE:AGRO) by 50.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 131,310 shares of the company’s stock after buying an additional 44,310 shares during the period. Deltec Asset Management LLC’s holdings in Adecoagro SA were worth $1,440,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of AGRO. Fis Group Inc. bought a new position in shares of Adecoagro SA during the second quarter worth $417,000. Palo Capital Inc. acquired a new stake in shares of Adecoagro SA during the second quarter worth approximately $422,000. Investec Asset Management LTD boosted its stake in shares of Adecoagro SA by 40.7% in the first quarter. Investec Asset Management LTD now owns 56,027 shares of the company’s stock worth $647,000 after buying an additional 16,200 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of Adecoagro SA by 25.7% in the first quarter. Royal Bank of Canada now owns 86,751 shares of the company’s stock worth $1,002,000 after buying an additional 17,763 shares in the last quarter. Finally, Moore Capital Management LP acquired a new stake in shares of Adecoagro SA during the first quarter worth approximately $2,021,000. Hedge funds and other institutional investors own 60.87% of the company’s stock.
Shares of Adecoagro SA (NYSE:AGRO) traded down 0.91% during mid-day trading on Wednesday, hitting $10.85. 663,798 shares of the stock were exchanged. Adecoagro SA has a 52-week low of $7.89 and a 52-week high of $13.42. The stock’s 50-day moving average price is $10.27 and its 200-day moving average price is $10.97. The company has a market cap of $1.32 billion, a P/E ratio of 107.43 and a beta of 1.22.
Adecoagro SA (NYSE:AGRO) last announced its quarterly earnings results on Friday, August 12th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of $0.06 by $0.21. Adecoagro SA had a negative net margin of 2.43% and a negative return on equity of 2.37%. Equities research analysts anticipate that Adecoagro SA will post $0.44 earnings per share for the current fiscal year.
Separately, Zacks Investment Research cut shares of Adecoagro SA from a “hold” rating to a “sell” rating in a report on Wednesday, August 24th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $12.88.
About Adecoagro SA
Adecoagro SA is a holding company. The Company is involved in a range of businesses, including farming crops and other agricultural products, dairy operations, sugar, ethanol and energy production and land transformation. The Company is organized into three main lines of business: farming; land transformation, and sugar, ethanol and energy.
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