Ellsworth Advisors LLC Acquires 1,469 Shares of Bunge Global SA (NYSE:BG)

Ellsworth Advisors LLC increased its holdings in Bunge Global SA (NYSE:BG) by 16.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,650 shares of the basic materials company’s stock after buying an additional 1,469 shares during the period. Ellsworth Advisors LLC’s holdings in Bunge Global were worth $1,137,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of BG. NewSquare Capital LLC bought a new position in shares of Bunge Global in the fourth quarter worth approximately $37,000. Riverview Trust Co bought a new stake in shares of Bunge Global during the 1st quarter worth $46,000. Versant Capital Management Inc purchased a new stake in Bunge Global during the second quarter valued at about $48,000. GAMMA Investing LLC purchased a new position in shares of Bunge Global in the 4th quarter worth about $62,000. Finally, Rise Advisors LLC increased its position in shares of Bunge Global by 56.8% during the 1st quarter. Rise Advisors LLC now owns 635 shares of the basic materials company’s stock valued at $65,000 after purchasing an additional 230 shares during the last quarter. 86.23% of the stock is currently owned by hedge funds and other institutional investors.

Bunge Global Stock Up 0.5 %

Bunge Global stock traded up $0.50 during trading hours on Friday, hitting $96.51. 772,107 shares of the stock traded hands, compared to its average volume of 1,538,085. Bunge Global SA has a one year low of $86.10 and a one year high of $115.84. The company has a market cap of $13.67 billion, a PE ratio of 7.77 and a beta of 0.67. The firm’s 50-day moving average price is $105.87 and its two-hundred day moving average price is $101.70. The company has a current ratio of 2.03, a quick ratio of 1.10 and a debt-to-equity ratio of 0.37.

Bunge Global (NYSE:BG) last announced its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $1.73 EPS for the quarter, missing the consensus estimate of $1.79 by ($0.06). The firm had revenue of $13.24 billion for the quarter, compared to analysts’ expectations of $14.30 billion. Bunge Global had a net margin of 2.33% and a return on equity of 14.84%. The business’s quarterly revenue was down 12.0% compared to the same quarter last year. During the same period in the prior year, the business posted $3.72 EPS. On average, research analysts forecast that Bunge Global SA will post 9.4 EPS for the current year.

Insider Activity

In other Bunge Global news, insider Christos Dimopoulos sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $103.26, for a total transaction of $2,065,200.00. Following the completion of the sale, the insider now directly owns 87,999 shares in the company, valued at approximately $9,086,776.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.60% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Citigroup cut shares of Bunge Global from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $125.00 to $114.00 in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $118.00.

About Bunge Global

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.