Mission Produce (NASDAQ:AVO) Sees Unusually-High Trading Volume

Mission Produce, Inc. (NASDAQ:AVO) saw unusually-strong trading volume on Tuesday . Approximately 300,553 shares changed hands during mid-day trading, an increase of 43% from the previous session’s volume of 210,385 shares.The stock last traded at $13.14 and had previously closed at $12.99.

Analysts Set New Price Targets

AVO has been the subject of a number of research reports. Roth Mkm upped their target price on shares of Mission Produce from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Lake Street Capital reissued a “buy” rating and issued a $15.00 target price on shares of Mission Produce in a research note on Tuesday, September 10th.

Mission Produce Stock Up 1.8 %

The firm’s fifty day simple moving average is $10.82 and its two-hundred day simple moving average is $11.16. 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 company has a market capitalization of $938.14 million, a price-to-earnings ratio of 51.96 and a beta of 0.47.

Insider Activity at Mission Produce

In other news, Director Luis A. Gonzalez sold 51,615 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $13.28, for a total value of $685,447.20. Following the transaction, the director now owns 7,219,614 shares of the company’s stock, valued at approximately $95,876,473.92. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Mission Produce news, Director Luis A. Gonzalez sold 51,615 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $13.28, for a total value of $685,447.20. Following the transaction, the director now owns 7,219,614 shares of the company’s stock, valued at $95,876,473.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Luis A. Gonzalez sold 49,331 shares of Mission Produce 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 sale, the director now owns 7,398,902 shares of the company’s stock, valued at $96,407,693.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 101,905 shares of company stock worth $1,340,697. Insiders own 41.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Mission Produce by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 2,831,250 shares of the company’s stock worth $33,607,000 after buying an additional 29,822 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Mission Produce by 25.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,327,266 shares of the company’s stock valued at $13,113,000 after purchasing an additional 266,489 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Mission Produce by 10.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 658,038 shares of the company’s stock worth $6,640,000 after purchasing an additional 59,983 shares in the last quarter. Buckingham Strategic Partners LLC purchased a new stake in Mission Produce during the 4th quarter worth about $3,952,000. Finally, Marshall Wace LLP raised its position in Mission Produce by 202.1% in the 2nd quarter. Marshall Wace LLP now owns 215,047 shares of the company’s stock valued at $2,125,000 after purchasing an additional 143,858 shares in the last quarter. 63.57% of the stock is currently owned by hedge funds and other institutional investors.

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.