Mission Produce, Inc. (NASDAQ:AVO) Shares Sold by Nuance Investments LLC

Nuance Investments LLC reduced its stake in Mission Produce, Inc. (NASDAQ:AVO) by 3.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,922,979 shares of the company’s stock after selling 93,874 shares during the period. Mission Produce makes up about 1.3% of Nuance Investments LLC’s investment portfolio, making the stock its 27th biggest holding. Nuance Investments LLC owned approximately 4.12% of Mission Produce worth $37,473,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in AVO. Lazard Asset Management LLC boosted its stake in shares of Mission Produce by 245.2% in the first quarter. Lazard Asset Management LLC now owns 4,381 shares of the company’s stock valued at $52,000 after purchasing an additional 3,112 shares during the period. Point72 Asset Management L.P. purchased a new position in Mission Produce in the 2nd quarter valued at about $53,000. Point72 DIFC Ltd purchased a new position in Mission Produce in the 2nd quarter valued at about $53,000. nVerses Capital LLC acquired a new stake in shares of Mission Produce during the second quarter valued at about $67,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Mission Produce during the second quarter worth about $73,000. 63.57% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Mission Produce

In other news, Director Jay A. Pack sold 72,054 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $13.30, for a total transaction of $958,318.20. Following the completion of the transaction, the director now directly owns 384,823 shares of the company’s stock, valued at approximately $5,118,145.90. This represents a 15.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Taylor Family Investments, Llc sold 100,100 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $13.25, for a total value of $1,326,325.00. Following the completion of the sale, the director now directly owns 8,630,002 shares in the company, valued at approximately $114,347,526.50. This trade represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 296,059 shares of company stock valued at $3,920,360. Corporate insiders own 41.60% of the company’s stock.

Mission Produce Price Performance

AVO opened at $13.12 on Wednesday. The company has a market capitalization of $930.35 million, a P/E ratio of 39.76 and a beta of 0.50. The company has a 50-day moving average of $12.72 and a 200-day moving average of $11.53. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.40 and a current ratio of 2.02. Mission Produce, Inc. has a 1-year low of $8.19 and a 1-year high of $14.17.

Mission Produce (NASDAQ:AVO) last announced its quarterly earnings data on Monday, September 9th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.23. Mission Produce had a return on equity of 6.69% and a net margin of 2.06%. The firm had revenue of $324.00 million during the quarter, compared to analyst estimates of $229.90 million. Equities analysts expect that Mission Produce, Inc. will post 0.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Roth Mkm raised their price objective on Mission Produce from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Lake Street Capital reiterated a “buy” rating and set a $15.00 target price on shares of Mission Produce in a research note on Tuesday, September 10th.

Mission Produce Profile

Mission Produce, Inc engages in the sourcing, farming, packaging, marketing, and distribution of avocados, mangoes, and blueberries to food retailers, distributors, and foodservice customers in the United States and internationally. The company operates through three segments, Marketing and Distribution; International Farming; and Blueberries.