Ping Capital Management Inc. Buys 2,000 Shares of Adecoagro S.A. (NYSE:AGRO)

Ping Capital Management Inc. raised its holdings in shares of Adecoagro S.A. (NYSE:AGRO) by 1.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 105,000 shares of the company’s stock after buying an additional 2,000 shares during the period. Adecoagro comprises 0.2% of Ping Capital Management Inc.’s holdings, making the stock its 25th largest position. Ping Capital Management Inc.’s holdings in Adecoagro were worth $990,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Helikon Investments Ltd lifted its stake in Adecoagro by 0.5% during the 4th quarter. Helikon Investments Ltd now owns 6,976,857 shares of the company’s stock valued at $65,792,000 after acquiring an additional 35,000 shares in the last quarter. Citigroup Inc. grew its stake in Adecoagro by 111.0% in the 3rd quarter. Citigroup Inc. now owns 500,113 shares of the company’s stock valued at $5,536,000 after purchasing an additional 263,125 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Adecoagro by 14,282.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 156,771 shares of the company’s stock worth $1,735,000 after buying an additional 155,681 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its position in Adecoagro by 1.3% during the third quarter. B. Riley Wealth Advisors Inc. now owns 149,450 shares of the company’s stock valued at $1,657,000 after buying an additional 1,900 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in Adecoagro by 2.0% during the second quarter. The Manufacturers Life Insurance Company now owns 107,461 shares of the company’s stock worth $1,046,000 after buying an additional 2,099 shares during the last quarter. 45.25% of the stock is currently owned by institutional investors and hedge funds.

Adecoagro Trading Up 1.0 %

Shares of AGRO stock opened at $9.64 on Wednesday. Adecoagro S.A. has a 52-week low of $8.72 and a 52-week high of $12.07. The business’s fifty day moving average is $9.93 and its 200 day moving average is $10.59. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.09 and a current ratio of 2.40. The company has a market capitalization of $1.00 billion, a PE ratio of 6.42, a price-to-earnings-growth ratio of 1.29 and a beta of 1.03.

Wall Street Analyst Weigh In

Separately, UBS Group started coverage on Adecoagro in a report on Monday, October 14th. They set a “neutral” rating and a $12.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Adecoagro currently has a consensus rating of “Hold” and an average price target of $12.63.

Adecoagro Profile

Adecoagro SA operates as an agro-industrial company in South America. The company mainly operates through three segments: Farming; Sugar, Ethanol and Energy; and Land Transformation. It engages in farming crops, rice and other agricultural products, dairy operations, and land transformation activities, as well as sugar, ethanol, and energy production activities.