Cresud S.A.C.I.F. y A. (CRESY) Lowered to Buy at BidaskClub

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Tuesday.

CRESY stock traded down $0.34 during trading hours on Tuesday, hitting $12.77. 82,000 shares of the stock were exchanged, compared to its average volume of 91,614. The company has a current ratio of 1.73, a quick ratio of 1.64 and a debt-to-equity ratio of 0.02. Cresud S.A.C.I.F. y A. has a 12 month low of $10.74 and a 12 month high of $22.78.

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) last posted its quarterly earnings data on Monday, November 12th. The company reported $1.33 earnings per share for the quarter. The firm had revenue of $421.53 million for the quarter.

Several hedge funds and other institutional investors have recently modified their holdings of CRESY. Legal & General Group Plc bought a new position in shares of Cresud S.A.C.I.F. y A. in the third quarter worth $110,000. Renaissance Technologies LLC acquired a new stake in Cresud S.A.C.I.F. y A. in the third quarter valued at about $281,000. Raymond James & Associates boosted its stake in Cresud S.A.C.I.F. y A. by 7.3% in the second quarter. Raymond James & Associates now owns 51,369 shares of the company’s stock valued at $761,000 after buying an additional 3,511 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Cresud S.A.C.I.F. y A. in the third quarter valued at about $1,629,000. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Cresud S.A.C.I.F. y A. by 17.6% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 158,029 shares of the company’s stock valued at $2,238,000 after buying an additional 23,630 shares in the last quarter. Institutional investors own 26.30% of the company’s stock.

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.

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