Mission Produce (NASDAQ:AVO) Shares Gap Down – Here’s Why

Mission Produce, Inc. (NASDAQ:AVO) gapped down prior to trading on Tuesday . The stock had previously closed at $11.81, but opened at $10.32. Mission Produce shares last traded at $9.88, with a volume of 147,946 shares traded.

Mission Produce Price Performance

The company has a debt-to-equity ratio of 0.23, a current ratio of 1.87 and a quick ratio of 1.26. The company has a fifty day moving average price of $12.27 and a 200 day moving average price of $12.52. The company has a market capitalization of $730.12 million, a P/E ratio of 20.35 and a beta of 0.47.

Insider Transactions at Mission Produce

In related news, CEO Stephen J. Barnard sold 7,032 shares of the stock in a transaction on Monday, December 30th. The stock was sold at an average price of $14.51, for a total value of $102,034.32. Following the completion of the transaction, the chief executive officer now owns 1,787,450 shares in the company, valued at $25,935,899.50. This trade represents a 0.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Bryan E. Giles sold 15,000 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $14.40, for a total value of $216,000.00. Following the completion of the sale, the chief financial officer now owns 122,137 shares of the company’s stock, valued at $1,758,772.80. The trade was a 10.94 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 224,252 shares of company stock valued at $3,256,786. 35.41% of the stock is currently owned by corporate insiders.

Institutional Trading of Mission Produce

A number of hedge funds have recently made changes to their positions in AVO. Ameriflex Group Inc. acquired a new position in Mission Produce in the 4th quarter valued at approximately $57,000. Mackenzie Financial Corp acquired a new position in shares of Mission Produce in the fourth quarter worth $571,000. PharVision Advisers LLC purchased a new stake in shares of Mission Produce during the fourth quarter worth $289,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Mission Produce by 60.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 148,228 shares of the company’s stock valued at $2,130,000 after purchasing an additional 55,975 shares during the last quarter. Finally, Squarepoint Ops LLC grew its stake in Mission Produce by 36.9% in the fourth quarter. Squarepoint Ops LLC now owns 68,422 shares of the company’s stock valued at $983,000 after purchasing an additional 18,431 shares in the last quarter. 63.57% of the stock is owned by hedge funds and other institutional investors.

About Mission Produce

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.