nVerses Capital LLC Boosts Stock Position in Bunge Global SA (NYSE:BG)

nVerses Capital LLC grew its stake in shares of Bunge Global SA (NYSE:BG) by 400.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,000 shares of the basic materials company’s stock after buying an additional 8,000 shares during the period. nVerses Capital LLC’s holdings in Bunge Global were worth $966,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Altshuler Shaham Ltd bought a new stake in Bunge Global in the 2nd quarter worth approximately $28,000. Blue Trust Inc. increased its position in shares of Bunge Global by 52.3% during the 2nd quarter. Blue Trust Inc. now owns 297 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 102 shares during the last quarter. Farmers & Merchants Investments Inc. increased its position in shares of Bunge Global by 185.2% during the 2nd quarter. Farmers & Merchants Investments Inc. now owns 308 shares of the basic materials company’s stock valued at $33,000 after purchasing an additional 200 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Bunge Global during the 2nd quarter valued at approximately $40,000. Finally, Atlas Capital Advisors LLC increased its position in shares of Bunge Global by 261.3% during the 2nd quarter. Atlas Capital Advisors LLC now owns 383 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 277 shares during the last quarter. 86.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Citigroup downgraded Bunge Global from a “buy” rating to a “neutral” rating and cut their price objective for the company from $125.00 to $114.00 in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $118.00.

Bunge Global Price Performance

BG stock traded down $0.26 during mid-day trading on Thursday, reaching $94.86. 206,378 shares of the company’s stock were exchanged, compared to its average volume of 1,463,791. The company has a market cap of $13.43 billion, a price-to-earnings ratio of 7.66 and a beta of 0.64. The stock’s 50 day moving average is $97.59 and its 200 day moving average is $103.05. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.03 and a quick ratio of 0.97. Bunge Global SA has a 12-month low of $86.10 and a 12-month high of $114.92.

Bunge Global (NYSE:BG) last released its earnings results on Wednesday, July 31st. The basic materials company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $1.79 by ($0.06). Bunge Global had a net margin of 2.33% and a return on equity of 14.84%. The firm had revenue of $13.24 billion during the quarter, compared to analysts’ expectations of $14.30 billion. During the same quarter last year, the business earned $3.72 EPS. The business’s revenue was down 12.0% compared to the same quarter last year. On average, research analysts expect that Bunge Global SA will post 9.3 EPS for the current year.

About Bunge Global

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.