Agco Corporation (NYSE:AGCO) Shorted Shares Increased 10.99% After Market Selling


The stock of Agco Corporation (NYSE:AGCO) registered an increase of 10.99% in short interest. AGCO’s total short interest was 10.08M shares in September as published by FINRA. Its up 10.99% from 9.08 million shares, reported previously. With 806,000 shares average volume, it will take short sellers 13 days to cover their AGCO’s short positions. The short interest to Agco Corporation’s float is 16.43%. About 305,215 shares traded hands. AGCO Corporation (NYSE:AGCO) has risen 1.28% since February 8, 2016 and is uptrending. It has underperformed by 15.21% the S&P500.

AGCO Corporation is a manufacturer and distributor of agricultural equipment and related replacement parts around the world. The company has a market cap of $3.83 billion. The Firm sells a range of agricultural equipment, including tractors, combines, self-propelled sprayers, hay tools, forage equipment, seeding and tillage, implements, and grain storage and protein production systems. It has a 21.09 P/E ratio. The Company’s divisions include North America, South America, Europe/Africa/Middle East, and Asia/Pacific.

The institutional sentiment decreased to 0.61 in 2016 Q2. Its down 0.13, from 0.74 in 2016Q1. The ratio turned negative, as 49 funds sold all AGCO Corporation shares owned while 133 reduced positions. 20 funds bought stakes while 91 increased positions. They now own 70.87 million shares or 7.82% less from 76.88 million shares in 2016Q1.

Blue Harbour Group L.P. holds 13.03% of its portfolio in AGCO Corporation for 6.67 million shares. Southernsun Asset Management Llc owns 4.06 million shares or 5.03% of their US portfolio. Moreover, Zuckerman Investment Group Llc has 3.49% invested in the company for 277,195 shares. The Massachusetts-based Schwerin Boyle Capital Management Inc has invested 3.2% in the stock. Fairpointe Capital Llc, a Illinois-based fund reported 2.12 million shares.

Out of 7 analysts covering Agco Corporation (NYSE:AGCO), 0 rate it a “Buy”, 3 “Sell”, while 4 “Hold”. This means 0 are positive. $54 is the highest target while $39 is the lowest. The $47.44 average target is 1.76% above today’s ($46.62) stock price. Agco Corporation has been the topic of 18 analyst reports since September 25, 2015 according to StockzIntelligence Inc. Deutsche Bank initiated the stock on September 7 with “Hold” rating.

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