Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) Downgraded to Strong Sell at BidaskClub

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BidaskClub cut shares of Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) from a sell rating to a strong sell rating in a research note issued to investors on Wednesday, BidAskClub reports.

Cresud S.A.C.I.F. y A. stock opened at $5.98 on Wednesday. Cresud S.A.C.I.F. y A. has a twelve month low of $5.75 and a twelve month high of $15.62. The stock’s fifty day simple moving average is $9.51 and its 200-day simple moving average is $10.73. The company has a quick ratio of 1.58, a current ratio of 1.69 and a debt-to-equity ratio of 0.04.

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) last posted its quarterly earnings data on Wednesday, June 5th. The company reported ($1.14) earnings per share for the quarter. The firm had revenue of $497.22 million during the quarter.

Several institutional investors have recently bought and sold shares of the company. City of London Investment Management Co. Ltd. increased its position in shares of Cresud S.A.C.I.F. y A. by 10.0% during the second quarter. City of London Investment Management Co. Ltd. now owns 1,194,481 shares of the company’s stock worth $12,512,000 after acquiring an additional 108,508 shares during the period. BlackRock Inc. increased its position in shares of Cresud S.A.C.I.F. y A. by 112.3% during the second quarter. BlackRock Inc. now owns 322,491 shares of the company’s stock worth $3,379,000 after acquiring an additional 170,590 shares during the period. Northern Trust Corp increased its position in shares of Cresud S.A.C.I.F. y A. by 48.0% during the second quarter. Northern Trust Corp now owns 83,958 shares of the company’s stock worth $879,000 after acquiring an additional 27,224 shares during the period. Citadel Advisors LLC purchased a new position in Cresud S.A.C.I.F. y A. in the second quarter valued at $283,000. Finally, Legal & General Group Plc increased its holdings in Cresud S.A.C.I.F. y A. by 231.4% in the fourth quarter. Legal & General Group Plc now owns 25,756 shares of the company’s stock valued at $313,000 after buying an additional 17,984 shares during the last quarter. 30.24% of the stock is currently owned by institutional investors and hedge funds.

About Cresud S.A.C.I.F. y A.

Cresud Sociedad Anónima Comercial, Inmobiliaria, Financiera y Agropecuaria, an agricultural company, produces basic agricultural commodities in Brazil and other Latin American countries. The Agricultural business is involved in planting, harvesting, and sale of crops, such as wheat, corn, soybean, cotton, and sunflower, as well as sugarcane; breeding, purchasing, and fattening of cattle for sale to slaughterhouses and local livestock auction markets; producing raw milk for sale to local milk and milk-related products producers; the leasing of farms to third parties; the disposal and development of farmlands activities; and feedlot farming, as well as meat slaughtering and processing activities.

See Also: Producer Price Index (PPI)

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