IndexIQ Advisors LLC Has $4.22 Million Stake in Renewable Energy Group Inc (REGI)

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IndexIQ Advisors LLC cut its position in Renewable Energy Group Inc (NASDAQ:REGI) by 7.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 164,201 shares of the oil and gas company’s stock after selling 13,396 shares during the quarter. IndexIQ Advisors LLC owned 0.44% of Renewable Energy Group worth $4,220,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in REGI. Raymond James & Associates bought a new position in Renewable Energy Group during the 2nd quarter valued at $990,000. Public Employees Retirement System of Ohio boosted its stake in Renewable Energy Group by 73.1% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 38,117 shares of the oil and gas company’s stock valued at $680,000 after acquiring an additional 16,103 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Renewable Energy Group by 104.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 452,633 shares of the oil and gas company’s stock valued at $8,079,000 after acquiring an additional 230,703 shares during the last quarter. Northern Trust Corp boosted its stake in Renewable Energy Group by 0.9% during the 2nd quarter. Northern Trust Corp now owns 808,314 shares of the oil and gas company’s stock valued at $14,429,000 after acquiring an additional 7,513 shares during the last quarter. Finally, United Services Automobile Association boosted its stake in Renewable Energy Group by 1,005.8% during the 2nd quarter. United Services Automobile Association now owns 124,116 shares of the oil and gas company’s stock valued at $2,215,000 after acquiring an additional 112,892 shares during the last quarter.

Shares of NASDAQ:REGI opened at $26.35 on Friday. The firm has a market cap of $1.04 billion, a price-to-earnings ratio of 4.51 and a beta of 1.06. Renewable Energy Group Inc has a 1-year low of $10.36 and a 1-year high of $32.52. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.11 and a current ratio of 1.56.

Renewable Energy Group (NASDAQ:REGI) last issued its earnings results on Tuesday, November 6th. The oil and gas company reported $0.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.49 by $0.04. The company had revenue of $597.75 million for the quarter, compared to analysts’ expectations of $594.60 million. Renewable Energy Group had a net margin of 10.21% and a return on equity of 34.52%. As a group, equities research analysts anticipate that Renewable Energy Group Inc will post 1.19 EPS for the current year.

In related news, VP Eric Bowen sold 9,750 shares of the stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $26.19, for a total value of $255,352.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Peter John Martin Harding acquired 5,000 shares of the company’s stock in a transaction that occurred on Monday, December 17th. The stock was purchased at an average cost of $23.94 per share, for a total transaction of $119,700.00. Following the acquisition, the director now owns 100,526 shares in the company, valued at $2,406,592.44. The disclosure for this purchase can be found here. 1.97% of the stock is currently owned by corporate insiders.

A number of research analysts have commented on the stock. Zacks Investment Research upgraded shares of Renewable Energy Group from a “sell” rating to a “hold” rating in a research note on Wednesday, December 19th. BidaskClub raised shares of Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 2nd. Roth Capital set a $35.00 target price on shares of Renewable Energy Group and gave the stock a “buy” rating in a report on Wednesday, October 17th. TheStreet raised shares of Renewable Energy Group from a “c+” rating to a “b” rating in a report on Wednesday, November 14th. Finally, Canaccord Genuity set a $31.00 target price on shares of Renewable Energy Group and gave the stock a “buy” rating in a report on Monday, October 15th. One research analyst has rated the stock with a hold rating, two have given a buy rating and two have given a strong buy rating to the company’s stock. Renewable Energy Group currently has a consensus rating of “Buy” and a consensus target price of $29.67.

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Renewable Energy Group Company Profile

Renewable Energy Group, Inc produces biomass-based diesel and biofuel and develops renewable chemicals. The company utilizes an integrated procurement, distribution, and logistics network to convert natural fats, oils, greases, and sugars into lower carbon intensity products. It operates through Biomass-Based Diesel, Services, Renewable Chemicals, and Corporate and Other segments.

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Institutional Ownership by Quarter for Renewable Energy Group (NASDAQ:REGI)

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