Commonwealth Equity Services LLC Trims Holdings in Mission Produce, Inc. (NASDAQ:AVO)

Commonwealth Equity Services LLC reduced its position in shares of Mission Produce, Inc. (NASDAQ:AVO – Free Report) by 27.5% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,910 shares of the company’s stock after selling 11,737 shares during the period. Commonwealth Equity Services LLC’s holdings in Mission Produce were worth $305,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its stake in Mission Produce by 68.5% in the fourth quarter. Quadrant Capital Group LLC now owns 3,877 shares of the company’s stock valued at $39,000 after buying an additional 1,576 shares during the period. Lazard Asset Management LLC boosted its stake in Mission Produce by 245.2% in the first quarter. Lazard Asset Management LLC now owns 4,381 shares of the company’s stock valued at $52,000 after buying an additional 3,112 shares during the period. Sanders Morris Harris LLC purchased a new position in Mission Produce in the 1st quarter worth about $119,000. PEAK6 Investments LLC purchased a new stake in shares of Mission Produce in the first quarter valued at about $132,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Mission Produce by 22.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,498 shares of the company’s stock valued at $123,000 after purchasing an additional 2,332 shares during the period. Institutional investors and hedge funds own 63.57% of the company’s shares.

Mission product inventory down 2.5%

Shares of AVO stock opened at $12.97 on Tuesday. The company has a current ratio of 2.02, a quick ratio of 1.49, and a debt-to-equity ratio of 0.28. The firm has a 50-day simple moving average of $11.10 and a 200-day simple moving average of $11.23. The company has a market cap of $919.70 million, a P/E ratio of 51.88 and a beta of 0.47. Mission Produce, Inc. has a 12-month low of $8.19 and a 12-month high of $13.62.

Insider trading at Mission Produce

In other news, Director Jay A. Pack sold 22,000 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $13.41, for a total transaction of $295,020.00. Following the transaction, the director now owns 1,115,160 shares of the company’s stock, valued at $14,954,295.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC’s website. In other Mission Produce news, Director Luis A. Gonzalez sold 49,331 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $13.03, for a total transaction of $642,782.93. Following the completion of the sale, the director now owns 7,398,902 shares in the company, valued at $96,407,693.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC’s website. Also, Director Jay A. Pack sold 22,000 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $13.41, for a total transaction of $295,020.00. Following the completion of the transaction, the director now owns 1,115,160 shares in the company, valued at $14,954,295.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 195,959 shares of company stock worth $2,594,035. Insiders own 41.60% of the company’s shares.

The Wall Street analyst weighs in

Several research firms have recently commented on AVO. Roth Mkm boosted their price objective on shares of Mission Produce from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Lake Street Capital reissued a “buy” rating and issued a $15.00 price target on shares of Mission Produce in a research note on Tuesday, September 10th.

Read the latest stock analysis on AVO

About Mission Produce

(Free Report)

Mission Produce, Inc is engaged in the sourcing, growing, packaging, marketing and distribution of avocados, mangoes and blueberries to food retailers, distributors and food service customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Agriculture; and blueberries.

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