Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) Stock Price Down 8.8% – Here’s What Happened

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY)’s share price fell 8.8% on Monday. The company traded as low as $10.40 and last traded at $10.4450. Approximately 68,113 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 262,260 shares. The stock had previously closed at $11.45.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Cresud S.A.C.I.F. y A. from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, October 16th. One analyst has rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold”.

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

The stock has a 50-day moving average of $11.68.

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) last announced its quarterly earnings data on Saturday, August 15th. The company reported $1.14 earnings per share (EPS) for the quarter. The firm had revenue of $298.16 million during the quarter.

Cresud S.A.C.I.F. y A. Dividend Announcement

The business also recently disclosed a dividend, which was paid on Tuesday, October 27th. Stockholders of record on Monday, November 2nd were given a dividend of $0.7494 per share. The ex-dividend date was Monday, November 2nd.

Insiders Place Their Bets

In other Cresud S.A.C.I.F. y A. news, Director Alejandro Elsztain purchased 8,295 shares of the stock in a transaction dated Thursday, October 15th. The shares were acquired at an average price of $11.18 per share, for a total transaction of $92,738.10. Following the completion of the acquisition, the director owned 1,251,393 shares of the company’s stock, valued at $13,990,573.74. This represents a 0.67% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Fernando Elsztain sold 65,000 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $1.25, for a total value of $81,250.00. Following the completion of the sale, the director directly owned 515,736 shares of the company’s stock, valued at approximately $644,670. This represents a 11.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 130,000 shares of company stock worth $155,000 over the last ninety days. 36.20% of the stock is owned by insiders.

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

Several institutional investors and hedge funds have recently bought and sold shares of the business. OceanIQ Capital LLC lifted its holdings in shares of Cresud S.A.C.I.F. y A. by 8.0% in the 3rd quarter. OceanIQ Capital LLC now owns 66,340 shares of the company’s stock worth $770,000 after purchasing an additional 4,892 shares in the last quarter. Kopernik Global Investors LLC lifted its holdings in Cresud S.A.C.I.F. y A. by 4.0% during the 1st quarter. Kopernik Global Investors LLC now owns 4,415,543 shares of the company’s stock worth $56,166,000 after purchasing an additional 168,662 shares in the last quarter. Acuitas Investments LLC bought a new position in shares of Cresud S.A.C.I.F. y A. in the first quarter valued at approximately $127,000. Finally, R Squared Ltd grew its position in shares of Cresud S.A.C.I.F. y A. by 14.7% during the 1st quarter. R Squared Ltd now owns 17,534 shares of the company’s stock valued at $223,000 after purchasing an additional 2,253 shares in the last quarter. Hedge funds and other institutional investors own 12.90% of the company’s stock.

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

Cresud SAC.I.F. y A. is an Argentine agricultural company engaged in the acquisition, development, operation and sale of farmland. Its farming activities include the production of grains and oilseeds such as soybeans, corn, wheat and sunflower, as well as sugarcane and other crops. The company also operates livestock activities, including cattle production, and generates revenue through the leasing and sale of agricultural properties.

Cresud’s operations are focused primarily in Argentina and extend to other South American markets through subsidiaries and investments, including agricultural activities in Brazil, Paraguay and Bolivia.