AGI Inc’s (NYSE:AGBK) Lock-Up Period Will Expire Tomorrow

AGI’s (NYSE:AGBK) lock-up period will end on Monday, August 10th. AGI had issued 20,000,000 shares in its initial public offering on February 11th. The total size of the offering was $240,000,000 based on an initial share price of $12.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Analyst Ratings Changes

AGBK has been the subject of a number of analyst reports. The Goldman Sachs Group set a $13.00 price target on AGI in a research report on Thursday. Zacks Research cut AGI from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 16th. Weiss Ratings began coverage on AGI in a research note on Tuesday, May 12th. They set a “sell (d)” rating for the company. Susquehanna set a $14.00 target price on shares of AGI in a report on Friday, May 8th. Finally, Oppenheimer decreased their target price on shares of AGI from $10.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday. Six research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $14.14.

AGI Stock Performance

AGBK stock opened at $6.17 on Friday. AGI has a one year low of $6.07 and a one year high of $12.21. The stock has a fifty day moving average of $6.95. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 1.34. The stock has a market capitalization of $986.45 million and a P/E ratio of 19.90.

About AGI

Our mission is to revolutionize financial services for the largest and fastest growing segment of Brazil’s population: individuals who have been underserved by incumbent banks and have not been effectively reached by digital-only banks. We seek to make credit and banking solutions more accessible and affordable for the Brazilian consumers who we believe need it the most, including social security beneficiaries and private and public sector workers. We have designed a unique value proposition for this population, who may be older, have a lower income, be less tech-savvy or have less access to education.