Mission Produce (NASDAQ:AVO) Shares Gap Down – Time to Sell?

Mission Produce, Inc. (NASDAQ:AVO) gapped down before the market opened on Tuesday . The stock had previously closed at $11.81, but opened at $10.32. Mission Produce shares last traded at $9.88, with a volume of 147,946 shares changing hands.

Mission Produce Stock Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 1.87 and a quick ratio of 1.26. The business has a 50-day moving average of $12.11 and a 200-day moving average of $12.50. The company has a market capitalization of $737.73 million, a P/E ratio of 20.35 and a beta of 0.47.

Insider Buying and Selling

In other news, CEO Stephen J. Barnard sold 103,847 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $14.53, for a total transaction of $1,508,896.91. Following the completion of the sale, the chief executive officer now directly owns 1,790,966 shares of the company’s stock, valued at approximately $26,022,735.98. The trade was a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Luis A. Gonzalez sold 20,000 shares of the firm’s stock in a transaction dated Friday, December 27th. The stock was sold at an average price of $14.18, for a total transaction of $283,600.00. Following the completion of the transaction, the director now directly owns 275,000 shares in the company, valued at $3,899,500. This represents a 6.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 224,252 shares of company stock valued at $3,256,786 in the last ninety days. 35.41% of the stock is owned by company insiders.

Hedge Funds Weigh In On Mission Produce

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Ameriflex Group Inc. purchased a new stake in Mission Produce in the fourth quarter worth about $57,000. Mackenzie Financial Corp purchased a new stake in shares of Mission Produce in the 4th quarter worth approximately $571,000. PharVision Advisers LLC bought a new position in shares of Mission Produce during the fourth quarter valued at approximately $289,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Mission Produce by 60.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 148,228 shares of the company’s stock valued at $2,130,000 after buying an additional 55,975 shares during the period. Finally, Squarepoint Ops LLC raised its stake in Mission Produce by 36.9% in the fourth quarter. Squarepoint Ops LLC now owns 68,422 shares of the company’s stock worth $983,000 after buying an additional 18,431 shares in the last quarter. Institutional investors own 63.57% of the company’s stock.

Mission Produce Company Profile

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.