Kornitzer Capital Management Inc. KS cut its stake in AgroFresh Solutions Inc. (NASDAQ:AGFS) by 5.0% during the second quarter, Holdings Channel reports. The institutional investor owned 345,110 shares of the company’s stock after selling 18,200 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in AgroFresh Solutions were worth $1,833,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. First Manhattan Co. boosted its stake in shares of AgroFresh Solutions by 16.5% in the second quarter. First Manhattan Co. now owns 3,169,284 shares of the company’s stock valued at $16,828,000 after buying an additional 447,818 shares in the last quarter. BlackRock Group LTD acquired a new stake in shares of AgroFresh Solutions during the first quarter valued at $786,000. JPMorgan Chase & Co. boosted its stake in shares of AgroFresh Solutions by 36.6% in the first quarter. JPMorgan Chase & Co. now owns 174,814 shares of the company’s stock valued at $1,119,000 after buying an additional 46,814 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of AgroFresh Solutions during the first quarter valued at $203,000. 73.88% of the stock is currently owned by institutional investors.
Shares of AgroFresh Solutions Inc. (NASDAQ:AGFS) traded up 1.02% during mid-day trading on Wednesday, reaching $4.97. 29,685 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $5.53 and a 200-day moving average price of $5.65. The stock’s market cap is $248.36 million. AgroFresh Solutions Inc. has a one year low of $4.21 and a one year high of $8.19.
AgroFresh Solutions (NASDAQ:AGFS) last posted its earnings results on Tuesday, August 9th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by $0.29. AgroFresh Solutions had a positive return on equity of 0.65% and a negative net margin of 42.03%. The firm earned $18.40 million during the quarter, compared to analysts’ expectations of $17.70 million. On average, analysts predict that AgroFresh Solutions Inc. will post ($0.84) EPS for the current year.
Separately, Zacks Investment Research raised shares of AgroFresh Solutions from a “strong sell” rating to a “hold” rating in a research note on Tuesday, August 30th.
AgroFresh Solutions Company Profile
AgroFresh Solutions, Inc, formerly Boulevard Acquisition Corp., is a developer of agricultural technologies that preserve the freshness and value of fresh produce, including apples, pears, kiwifruit, avocados and bananas, as well as flowers. The Company’s principal product, The SmartFresh Quality System (SmartFresh), regulates the post-harvest ripening effects of ethylene, the naturally occurring plant hormone that triggers ripening in certain fruits and vegetables, through technology.
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