Cresud S.A.C.I.F. y A. (CRESY) Downgraded by BidaskClub

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research note issued on Tuesday, BidAskClub reports.

Shares of NASDAQ:CRESY traded down $0.19 during trading on Tuesday, reaching $10.59. 116,609 shares of the stock were exchanged, compared to its average volume of 69,365. Cresud S.A.C.I.F. y A. has a 12 month low of $10.67 and a 12 month high of $21.74. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.64 and a current ratio of 1.73.

Several hedge funds have recently modified their holdings of CRESY. Legal & General Group Plc bought a new stake in shares of Cresud S.A.C.I.F. y A. in the third quarter valued at approximately $110,000. Millennium Management LLC acquired a new position in Cresud S.A.C.I.F. y A. during the fourth quarter valued at approximately $159,000. Eaton Vance Management acquired a new position in Cresud S.A.C.I.F. y A. during the fourth quarter valued at approximately $255,000. Renaissance Technologies LLC acquired a new position in Cresud S.A.C.I.F. y A. during the third quarter valued at approximately $281,000. Finally, Raymond James & Associates raised its position in Cresud S.A.C.I.F. y A. by 1.6% during the fourth quarter. Raymond James & Associates now owns 52,527 shares of the company’s stock valued at $638,000 after purchasing an additional 843 shares in the last quarter. Institutional investors and hedge funds own 30.58% of the company’s stock.

Cresud S.A.C.I.F. y A. Company Profile

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: Cost of Equity For A Business, Investors

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