Gruma, S.A.B. de C.V. (OTCMKTS:GPAGF) Sees Large Decline in Short Interest

Gruma, S.A.B. de C.V. (OTCMKTS:GPAGF) saw a large drop in short interest in March. As of March 13th, there was short interest totaling 320,357 shares, a drop of 29.1% from the February 26th total of 451,657 shares. Based on an average daily volume of 0 shares, the short-interest ratio is currently ∞ days.

Analyst Ratings Changes

Separately, Barclays cut shares of Gruma from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, December 2nd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Gruma Stock Performance

GPAGF stock remained flat at $18.55 during mid-day trading on Friday. The stock’s fifty day simple moving average is $18.08 and its two-hundred day simple moving average is $17.28. Gruma has a 52-week low of $14.16 and a 52-week high of $20.62.

Institutional Trading of Gruma

A hedge fund recently bought a new stake in Gruma stock. McMillan Office Inc. bought a new position in shares of Gruma, S.A.B. de C.V. (OTCMKTS:GPAGF) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 25,600 shares of the company’s stock, valued at approximately $476,000. 19.30% of the stock is owned by institutional investors and hedge funds.

Gruma Company Profile

Gruma, SAB. de C.V. is a Mexico-based multinational food processing company and one of the world’s leading producers of corn flour and tortillas. The company’s core business activities include the manufacture, marketing and sale of corn flour, wheat flour and related products under a portfolio of well-known brands such as Maseca, Mission and Guerrero. Gruma also produces and distributes a variety of flatbreads, snack foods and bakery items tailored to both retail consumers and the foodservice industry.

Founded in 1949 by Roberto González Barrera, Gruma has grown from a single tortilla plant in Monterrey into a global enterprise.