Short Interest in Mission Produce, Inc. (NASDAQ:AVO) Expands By 16.2%

Mission Produce, Inc. (NASDAQ:AVO) was the recipient of a large increase in short interest in January. As of January 31st, there was short interest totalling 1,720,000 shares, an increase of 16.2% from the January 15th total of 1,480,000 shares. Based on an average daily volume of 334,200 shares, the days-to-cover ratio is currently 5.1 days. Approximately 3.8% of the shares of the company are short sold.

Insider Activity

In related news, Director Jay A. Pack sold 59,165 shares of the firm’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $14.70, for a total value of $869,725.50. Following the transaction, the director now directly owns 1,015,160 shares of the company’s stock, valued at approximately $14,922,852. This trade represents a 5.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Stephen J. Barnard sold 7,032 shares of the firm’s 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 transaction, the chief executive officer now directly owns 1,787,450 shares in the company, valued at $25,935,899.50. This represents a 0.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 224,252 shares of company stock valued at $3,256,786 in the last three months. 41.60% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in shares of Mission Produce in the 3rd quarter valued at approximately $266,000. Wedge Capital Management L L P NC acquired a new position in Mission Produce in the 3rd quarter valued at about $955,000. Creative Planning grew its position in Mission Produce by 8.3% in the 3rd quarter. Creative Planning now owns 11,226 shares of the company’s stock valued at $144,000 after acquiring an additional 858 shares in the last quarter. Atria Investments Inc acquired a new position in Mission Produce in the 3rd quarter valued at about $424,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in Mission Produce in the 3rd quarter valued at about $1,295,000. 63.57% of the stock is currently owned by institutional investors and hedge funds.

Mission Produce Trading Up 2.0 %

NASDAQ:AVO traded up $0.24 during trading hours on Friday, hitting $12.04. The company had a trading volume of 566,600 shares, compared to its average volume of 292,490. Mission Produce has a 1 year low of $9.54 and a 1 year high of $15.25. The company has a market cap of $853.82 million, a P/E ratio of 23.61 and a beta of 0.48. The company has a 50-day moving average of $12.76 and a 200 day moving average of $12.31. The company has a current ratio of 1.87, a quick ratio of 1.26 and a debt-to-equity ratio of 0.23.

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.