Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) Sees Large Volume Increase – Here’s Why

Shares of Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) saw unusually-strong trading volume on Wednesday . Approximately 452,584 shares were traded during trading, an increase of 74% from the previous session’s volume of 260,038 shares.The stock last traded at $10.9620 and had previously closed at $11.21.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CRESY shares. Wall Street Zen lowered shares of Cresud S.A.C.I.F. y A. from a “buy” rating to a “hold” rating in a research note on Saturday, May 23rd. Weiss Ratings reissued a “hold (c)” rating on shares of Cresud S.A.C.I.F. y A. in a report on Wednesday, June 24th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

Cresud S.A.C.I.F. y A. Stock Performance

The company has a current ratio of 1.43, a quick ratio of 1.05 and a debt-to-equity ratio of 0.46. The company has a market cap of $695.61 million, a P/E ratio of 4.96 and a beta of 0.73.

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $0.45 earnings per share for the quarter. Cresud S.A.C.I.F. y A. had a net margin of 17.44% and a return on equity of 7.21%. The company had revenue of $182.78 million for the quarter.

Insiders Place Their Bets

In related news, Director Alejandro Gustavo Elsztain acquired 18,200 shares of the company’s stock in a transaction dated Friday, June 5th. The stock was bought at an average cost of $10.95 per share, with a total value of $199,290.00. Following the acquisition, the director owned 1,225,764 shares of the company’s stock, valued at approximately $13,422,115.80. The trade was a 1.51% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Eduardo S. Elsztain bought 8,823 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average price of $10.67 per share, with a total value of $94,141.41. Following the completion of the transaction, the director directly owned 9,854,101 shares of the company’s stock, valued at $105,143,257.67. This represents a 0.09% increase in their position. The SEC filing for this purchase provides additional information. Insiders have bought a total of 103,451 shares of company stock valued at $1,112,911 over the last ninety days. 36.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Cresud S.A.C.I.F. y A.

Hedge funds and other institutional investors have recently modified their holdings of the company. Bank of America Corp DE increased its position in shares of Cresud S.A.C.I.F. y A. by 464.8% during the 4th quarter. Bank of America Corp DE now owns 8,116 shares of the company’s stock valued at $103,000 after purchasing an additional 6,679 shares during the last quarter. Sei Investments Co. lifted its position in Cresud S.A.C.I.F. y A. by 66.2% in the 2nd quarter. Sei Investments Co. now owns 99,116 shares of the company’s stock worth $1,066,000 after buying an additional 39,488 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Cresud S.A.C.I.F. y A. in the 2nd quarter worth approximately $25,000. Banco BTG Pactual S.A. bought a new stake in Cresud S.A.C.I.F. y A. in the 3rd quarter worth approximately $400,000. Finally, Virtu Financial LLC purchased a new stake in Cresud S.A.C.I.F. y A. in the third quarter worth approximately $144,000. 12.90% of the stock is currently owned by hedge funds and other institutional investors.

Cresud S.A.C.I.F. y A. Company Profile

Cresud SAC.I.F. y A. (NASDAQ:CRESY) is an Argentina-based company primarily engaged in agribusiness and real estate activities. Headquartered in Buenos Aires, Cresud operates through a network of subsidiaries focused on crop production, livestock breeding and sustainability initiatives. The company’s agricultural arm cultivates major row crops such as soybeans, corn and wheat, and maintains a sizeable cattle herd across its extensive landholdings.

In its farming operations, Cresud emphasizes soil management, water resource optimization and technological integration.