AGI (NYSE:AGBK) Shares Climb 6.6% – Time to Buy?

AGI Inc (NYSE:AGBK) shares were up 6.6% during trading on Tuesday. The stock traded as high as $5.20 and last traded at $5.0410. Approximately 127,804 shares changed hands during trading, a decline of 72% from the average session volume of 448,533 shares. The stock had previously closed at $4.73.

Analyst Ratings Changes

A number of brokerages have weighed in on AGBK. The Goldman Sachs Group set a $13.00 price objective on AGI in a report on Thursday, August 6th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of AGI in a report on Friday, August 7th. Oppenheimer lowered their price target on shares of AGI from $10.00 to $9.00 and set an “outperform” rating on the stock in a research report on Friday, August 7th. Finally, Zacks Research cut shares of AGI from a “hold” rating to a “strong sell” rating in a research note on Thursday, July 16th. Six equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, AGI currently has a consensus rating of “Hold” and a consensus target price of $14.14.

AGI Price Performance

The stock has a 50 day simple moving average of $6.46 and a two-hundred day simple moving average of $7.43. The company has a market cap of $786.86 million and a price-to-earnings ratio of 8.34. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.51 and a quick ratio of 1.51.

Insider Activity at AGI

In other news, CTO Vinicius Birkeland Aloe sold 256,386 shares of AGI stock in a transaction on Monday, August 31st. The stock was sold at an average price of $11.99, for a total transaction of $3,074,068.14. Following the transaction, the chief technology officer owned 176,423 shares in the company, valued at $2,115,311.77. The trade was a 59.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

AGI Company Profile

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.