PenderFund Capital Management Ltd. Takes Position in Adecoagro S.A. $AGRO

PenderFund Capital Management Ltd. acquired a new position in shares of Adecoagro S.A. (NYSE:AGRO) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 250,000 shares of the company’s stock, valued at approximately $2,388,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Orion Porfolio Solutions LLC purchased a new stake in Adecoagro during the fourth quarter valued at about $88,000. Quadrature Capital Ltd bought a new stake in Adecoagro during the fourth quarter worth about $123,000. Virtu Financial LLC purchased a new position in shares of Adecoagro in the 4th quarter worth about $147,000. State of Wyoming boosted its holdings in shares of Adecoagro by 44.9% in the 2nd quarter. State of Wyoming now owns 17,203 shares of the company’s stock worth $157,000 after purchasing an additional 5,334 shares in the last quarter. Finally, Savant Capital LLC purchased a new position in shares of Adecoagro in the 4th quarter worth about $159,000. 45.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Weiss Ratings cut Adecoagro from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 14th. JPMorgan Chase & Co. upped their target price on Adecoagro from $7.00 to $10.50 and gave the stock an “underweight” rating in a research note on Monday, June 15th. Finally, UBS Group cut their target price on Adecoagro from $15.20 to $13.20 and set a “buy” rating for the company in a research note on Thursday. One investment analyst has rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average target price of $11.62.

Adecoagro Price Performance

Shares of NYSE:AGRO opened at $10.70 on Friday. The company has a quick ratio of 0.89, a current ratio of 1.73 and a debt-to-equity ratio of 0.84. The stock has a market cap of $1.53 billion, a PE ratio of 32.42 and a beta of -0.04. The company’s fifty day moving average is $9.94 and its 200 day moving average is $11.34. Adecoagro S.A. has a 52 week low of $6.89 and a 52 week high of $15.89.

Adecoagro (NYSE:AGRO) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.41). Adecoagro had a net margin of 3.03% and a negative return on equity of 0.38%. The business had revenue of $538.50 million for the quarter, compared to analysts’ expectations of $602.01 million. Research analysts anticipate that Adecoagro S.A. will post 1.42 earnings per share for the current year.

About Adecoagro

Adecoagro (NYSE: AGRO) is a leading agricultural and renewable energy company with core operations in South America. Founded in 2002 by Argentine entrepreneur Alejandro Bulgheroni, the company has grown into a vertically integrated platform covering crop production, sugar and ethanol manufacturing, and dairy operations. Adecoagro’s business model spans the full value chain, from seed selection and planting through harvesting, processing and distribution of commodities.

The company manages over 700,000 hectares of farmland across Argentina, Brazil and Uruguay.