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

Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Tuesday, July 25th.

Shares of Cresud S.A.C.I.F. y A. (NASDAQ:CRESY) traded up 2.57% during trading on Tuesday, hitting $17.95. 93,572 shares of the company were exchanged. The firm’s 50-day moving average price is $18.49 and its 200 day moving average price is $19.39. Cresud S.A.C.I.F. y A. has a 12 month low of $13.70 and a 12 month high of $22.28.

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Several hedge funds and other institutional investors have recently modified their holdings of the company. Van ECK Associates Corp raised its position in shares of Cresud S.A.C.I.F. y A. by 46.7% in the second quarter. Van ECK Associates Corp now owns 5,554 shares of the company’s stock valued at $108,000 after buying an additional 1,767 shares during the last quarter. Goldman Sachs Group Inc. raised its position in Cresud S.A.C.I.F. y A. by 4.9% in the first quarter. Goldman Sachs Group Inc. now owns 78,288 shares of the company’s stock worth $1,571,000 after buying an additional 3,661 shares in the last quarter. Stelac Advisory Services LLC bought a new position in Cresud S.A.C.I.F. y A. during the second quarter worth about $103,000. Parkwood LLC raised its position in Cresud S.A.C.I.F. y A. by 18.9% in the second quarter. Parkwood LLC now owns 34,638 shares of the company’s stock worth $674,000 after buying an additional 5,500 shares in the last quarter. Finally, Levin Capital Strategies L.P. raised its position in Cresud S.A.C.I.F. y A. by 31.1% in the first quarter. Levin Capital Strategies L.P. now owns 27,384 shares of the company’s stock worth $550,000 after buying an additional 6,500 shares in the last quarter. Institutional investors own 24.33% of the company’s stock.

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

Cresud Sociedad Anonima Comercial, Inmobiliaria, Financiera y Agropecuaria is an agricultural company engaged in the production of basic agricultural commodities with presence in the agricultural sector of Brazil, through its investment in Brasilagro, as well as in other Latin American countries. In addition, the Company leases lands to third parties and perform agency and agro-industrial services, including a meat packing plant.

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