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

Mission Produce, Inc. (NASDAQ:AVO)’s share price gapped down before the market opened 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 changing hands.

Mission Produce Stock Down 13.0 %

The business has a 50-day simple moving average of $12.27 and a two-hundred day simple moving average of $12.52. The company has a quick ratio of 1.26, a current ratio of 1.87 and a debt-to-equity ratio of 0.23. The company has a market cap of $730.12 million, a price-to-earnings ratio of 20.35 and a beta of 0.47.

Insider Transactions at Mission Produce

In other news, Director Jay A. Pack sold 59,165 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $14.70, for a total transaction of $869,725.50. Following the transaction, the director now owns 1,015,160 shares in the company, valued at approximately $14,922,852. The trade was a 5.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Stephen J. Barnard sold 7,032 shares of the stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $14.51, for a total transaction of $102,034.32. Following the completion of the sale, the chief executive officer now owns 1,787,450 shares of the company’s stock, valued at approximately $25,935,899.50. The trade was a 0.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 224,252 shares of company stock worth $3,256,786. 35.41% of the stock is owned by insiders.

Institutional Trading of Mission Produce

A number of hedge funds have recently modified their holdings of AVO. R Squared Ltd bought a new position in Mission Produce in the fourth quarter worth $34,000. New York State Teachers Retirement System acquired a new position in shares of Mission Produce in the 4th quarter valued at $57,000. Ameriflex Group Inc. bought a new position in shares of Mission Produce during the 4th quarter worth about $57,000. State of Wyoming acquired a new stake in shares of Mission Produce during the 4th quarter valued at about $63,000. Finally, Quantbot Technologies LP bought a new stake in Mission Produce in the third quarter valued at about $76,000. Institutional investors own 63.57% of the company’s stock.

Mission Produce Company 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.