Legal & General Group Plc Cuts Position in Renewable Energy Group, Inc. (REGI)
Legal & General Group Plc lowered its position in shares of Renewable Energy Group, Inc. (NASDAQ:REGI) by 1.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 10,378 shares of the oil and gas company’s stock after selling 199 shares during the period. Legal & General Group Plc’s holdings in Renewable Energy Group were worth $108,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Denver Investment Advisors LLC acquired a new stake in shares of Renewable Energy Group during the first quarter worth approximately $113,000. O Shaughnessy Asset Management LLC raised its position in Renewable Energy Group by 155.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 11,754 shares of the oil and gas company’s stock valued at $123,000 after buying an additional 7,160 shares in the last quarter. Karp Capital Management Corp bought a new position in Renewable Energy Group during the first quarter valued at about $363,000. Engineers Gate Manager LP raised its position in Renewable Energy Group by 24.1% in the first quarter. Engineers Gate Manager LP now owns 36,604 shares of the oil and gas company’s stock valued at $383,000 after buying an additional 7,117 shares in the last quarter. Finally, American Century Companies Inc. bought a new position in Renewable Energy Group during the first quarter valued at about $531,000.
Renewable Energy Group, Inc. (NASDAQ:REGI) traded up 1.37% during trading on Friday, hitting $11.10. The stock had a trading volume of 396,349 shares. The stock’s 50-day moving average is $12.18 and its 200-day moving average is $10.87. The stock’s market capitalization is $429.45 million. Renewable Energy Group, Inc. has a 52-week low of $7.91 and a 52-week high of $13.39.
Renewable Energy Group (NASDAQ:REGI) last issued its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by $0.13. Renewable Energy Group had a negative net margin of 0.36% and a positive return on equity of 6.20%. The company had revenue of $535.10 million for the quarter, compared to the consensus estimate of $531.88 million. During the same period in the previous year, the business earned $0.18 EPS. Renewable Energy Group’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, analysts predict that Renewable Energy Group, Inc. will post ($1.56) earnings per share for the current fiscal year.
Several equities analysts have recently issued reports on REGI shares. Zacks Investment Research raised Renewable Energy Group from a “hold” rating to a “strong-buy” rating and set a $14.00 price target for the company in a research report on Tuesday, May 9th. BidaskClub lowered Renewable Energy Group from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Canaccord Genuity raised Renewable Energy Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $16.00 in a research report on Friday, May 5th. Piper Jaffray Companies set a $13.00 price target on Renewable Energy Group and gave the stock a “hold” rating in a research report on Saturday, July 22nd. Finally, Roth Capital set a $17.00 price target on Renewable Energy Group and gave the stock a “buy” rating in a research report on Wednesday, June 14th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. Renewable Energy Group currently has an average rating of “Hold” and an average price target of $15.00.
In related news, major shareholder Carlson Capital L. P sold 65,000 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $12.83, for a total transaction of $833,950.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Christopher D. Sorrells acquired 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The shares were bought at an average cost of $11.14 per share, for a total transaction of $55,700.00. Following the transaction, the director now owns 28,146 shares of the company’s stock, valued at $313,546.44. The disclosure for this purchase can be found here. 2.28% of the stock is owned by company insiders.
Renewable Energy Group Company Profile
Renewable Energy Group, Inc is focused on providing cleaner, lower carbon intensity products and services. The Company is a producer of biomass-based diesel in North America. Its segments include Biomass-based diesel, Services, Renewable Chemicals and Corporate and other activities. It is involved in various activities related to biomass-based diesel production, from acquiring feedstock, managing construction and operating biomass-based diesel production facilities to marketing, selling and distributing biomass-based diesel and its co-products.
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