Acadian Asset Management LLC boosted its holdings in Renewable Energy Group Inc (NASDAQ:REGI) by 579.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 211,776 shares of the oil and gas company’s stock after buying an additional 180,621 shares during the quarter. Acadian Asset Management LLC’s holdings in Renewable Energy Group were worth $6,096,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of REGI. Meeder Asset Management Inc. raised its position in Renewable Energy Group by 5,920.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 7,646 shares of the oil and gas company’s stock worth $136,000 after buying an additional 7,519 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in Renewable Energy Group in the 2nd quarter worth about $138,000. Jane Street Group LLC purchased a new position in Renewable Energy Group in the 1st quarter worth about $149,000. Paloma Partners Management Co purchased a new position in Renewable Energy Group in the 2nd quarter worth about $194,000. Finally, State of Alaska Department of Revenue purchased a new position in Renewable Energy Group in the 2nd quarter worth about $197,000.
A number of brokerages have weighed in on REGI. Canaccord Genuity boosted their target price on Renewable Energy Group from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Tuesday, August 7th. BidaskClub lowered Renewable Energy Group from a “buy” rating to a “hold” rating in a research report on Wednesday, July 18th. Roth Capital set a $25.00 target price on Renewable Energy Group and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Finally, Zacks Investment Research raised Renewable Energy Group from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a research report on Saturday, August 11th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $29.67.
NASDAQ REGI opened at $28.89 on Wednesday. Renewable Energy Group Inc has a 52 week low of $9.50 and a 52 week high of $32.52. The stock has a market cap of $1.07 billion, a PE ratio of -14.16 and a beta of 1.21. The company has a quick ratio of 1.06, a current ratio of 1.48 and a debt-to-equity ratio of 0.04.
Renewable Energy Group (NASDAQ:REGI) last released its quarterly earnings results on Monday, August 6th. The oil and gas company reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.32. Renewable Energy Group had a net margin of 8.64% and a return on equity of 32.12%. The firm had revenue of $580.15 million during the quarter, compared to analyst estimates of $572.60 million. Sell-side analysts forecast that Renewable Energy Group Inc will post 1.61 EPS for the current fiscal year.
In other news, VP Gary Haer sold 13,581 shares of the company’s stock in a transaction dated Thursday, August 9th. The shares were sold at an average price of $20.65, for a total transaction of $280,447.65. Following the completion of the sale, the vice president now owns 77,329 shares of the company’s stock, valued at approximately $1,596,843.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Eric Bowen sold 20,000 shares of the company’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $27.45, for a total transaction of $549,000.00. Following the sale, the vice president now directly owns 84,241 shares of the company’s stock, valued at approximately $2,312,415.45. The disclosure for this sale can be found here. Insiders have sold a total of 40,350 shares of company stock valued at $1,012,955 in the last ninety days. Insiders own 1.97% of the company’s stock.
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About Renewable Energy Group
Renewable Energy Group, Inc produces and sells biofuels and renewable chemicals in North America. The company operates through Biomass-Based Diesel, Services, Renewable Chemicals, and Corporate and Other segments. It acquires feedstock; and manages construction and operates biomass-based diesel production facilities.
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