Ironsides Asset Advisors LLC Lowers Position in Adecoagro SA (AGRO)

Ironsides Asset Advisors LLC lowered its stake in shares of Adecoagro SA (NYSE:AGRO) by 16.0% during the first quarter, Holdings Channel reports. The institutional investor owned 41,850 shares of the company’s stock after selling 8,000 shares during the period. Ironsides Asset Advisors LLC’s holdings in Adecoagro were worth $288,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Brandes Investment Partners LP boosted its holdings in Adecoagro by 1.0% in the 4th quarter. Brandes Investment Partners LP now owns 7,791,909 shares of the company’s stock valued at $54,232,000 after purchasing an additional 79,193 shares in the last quarter. Jennison Associates LLC boosted its holdings in Adecoagro by 1.1% in the 4th quarter. Jennison Associates LLC now owns 6,115,520 shares of the company’s stock valued at $42,564,000 after purchasing an additional 68,882 shares in the last quarter. Norges Bank purchased a new stake in Adecoagro in the 4th quarter valued at approximately $9,660,000. CLARET ASSET MANAGEMENT Corp boosted its holdings in Adecoagro by 1.3% in the 4th quarter. CLARET ASSET MANAGEMENT Corp now owns 450,763 shares of the company’s stock valued at $3,137,000 after purchasing an additional 5,883 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in Adecoagro by 1,529.9% in the 4th quarter. Deutsche Bank AG now owns 338,568 shares of the company’s stock valued at $2,356,000 after purchasing an additional 317,796 shares in the last quarter. 43.40% of the stock is currently owned by hedge funds and other institutional investors.

AGRO stock opened at $6.44 on Tuesday. Adecoagro SA has a 12-month low of $6.33 and a 12-month high of $9.06. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.38 and a quick ratio of 1.58. The company has a market cap of $757.64 million, a PE ratio of 8.26 and a beta of 0.56.

Adecoagro (NYSE:AGRO) last posted its quarterly earnings results on Thursday, March 14th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.37). Adecoagro had a negative net margin of 3.10% and a positive return on equity of 11.36%. The company had revenue of $226.51 million for the quarter. On average, analysts forecast that Adecoagro SA will post 0.31 earnings per share for the current year.

A number of brokerages have weighed in on AGRO. ValuEngine raised Adecoagro from a “strong sell” rating to a “sell” rating in a report on Monday, February 4th. Zacks Investment Research downgraded shares of Adecoagro from a “buy” rating to a “hold” rating in a research report on Thursday, February 21st. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Adecoagro presently has an average rating of “Hold” and an average target price of $9.50.

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Adecoagro Company Profile

Adecoagro SA, an agricultural company, engages in farming crops and other agricultural products, dairy operations, sugar, ethanol and energy production, and land transformation activities in South America. The company engages in the planting, harvesting, and sale of grains, oilseeds, and fibers including wheat, corn, soybeans, cotton, sunflowers, and other; provision of grain warehousing/conditioning, handling, and drying services to third parties; and purchase and sale of crops produced by third parties.

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Institutional Ownership by Quarter for Adecoagro (NYSE:AGRO)

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