Ping Capital Management Inc. Sells 6,500 Shares of Adecoagro S.A. $AGRO

Ping Capital Management Inc. lessened its holdings in shares of Adecoagro S.A. (NYSE:AGRO) by 6.3% in the second quarter, Holdings Channel.com reports. The firm owned 97,000 shares of the company’s stock after selling 6,500 shares during the period. Ping Capital Management Inc.’s holdings in Adecoagro were worth $887,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NBC Securities Inc. boosted its position in Adecoagro by 143,775.0% during the first quarter. NBC Securities Inc. now owns 5,755 shares of the company’s stock worth $64,000 after purchasing an additional 5,751 shares during the period. State of Wyoming bought a new position in Adecoagro during the first quarter worth about $133,000. R Squared Ltd boosted its position in Adecoagro by 103.0% during the first quarter. R Squared Ltd now owns 15,128 shares of the company’s stock worth $169,000 after purchasing an additional 7,676 shares during the period. Aristides Capital LLC bought a new position in Adecoagro during the first quarter worth about $295,000. Finally, Quantbot Technologies LP lifted its holdings in shares of Adecoagro by 5.8% in the first quarter. Quantbot Technologies LP now owns 26,888 shares of the company’s stock worth $300,000 after buying an additional 1,481 shares in the last quarter. Institutional investors own 45.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their price target on shares of Adecoagro from $10.00 to $9.50 and set an “underweight” rating on the stock in a report on Wednesday, July 16th. Wall Street Zen downgraded shares of Adecoagro from a “hold” rating to a “sell” rating in a report on Sunday, September 7th. Finally, UBS Group lowered their price target on shares of Adecoagro from $9.90 to $8.50 and set a “neutral” rating on the stock in a report on Wednesday, September 3rd. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Sell” and an average target price of $9.60.

Adecoagro Trading Up 1.0%

Shares of AGRO opened at $7.76 on Friday. The firm’s 50 day simple moving average is $8.53 and its 200 day simple moving average is $9.39. The company has a market capitalization of $775.42 million, a P/E ratio of 22.16 and a beta of 0.60. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.90 and a quick ratio of 0.95. Adecoagro S.A. has a 1-year low of $7.64 and a 1-year high of $11.86.

Adecoagro (NYSE:AGRO) last announced its earnings results on Monday, August 18th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.40). The company had revenue of $405.66 million during the quarter, compared to analysts’ expectations of $402.00 million. Adecoagro had a net margin of 2.30% and a return on equity of 3.24%. Sell-side analysts forecast that Adecoagro S.A. will post 1.24 earnings per share for the current fiscal year.

About Adecoagro

Adecoagro SA operates as an agro-industrial company in South America. The company mainly operates through three segments: Farming; Sugar, Ethanol and Energy; and Land Transformation. It engages in farming crops, rice and other agricultural products, dairy operations, and land transformation activities, as well as sugar, ethanol, and energy production activities.