Acadian Asset Management LLC decreased its holdings in shares of Pacific Ethanol Inc (NASDAQ:PEIX) by 32.7% during the fourth quarter, HoldingsChannel reports. The firm owned 67,410 shares of the oil and gas company’s stock after selling 32,761 shares during the period. Acadian Asset Management LLC’s holdings in Pacific Ethanol were worth $306,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in PEIX. Principal Financial Group Inc. purchased a new stake in shares of Pacific Ethanol in the second quarter valued at $100,000. First Quadrant L P CA grew its holdings in shares of Pacific Ethanol by 496.8% in the third quarter. First Quadrant L P CA now owns 18,935 shares of the oil and gas company’s stock worth $105,000 after purchasing an additional 15,762 shares during the last quarter. Voya Investment Management LLC grew its holdings in shares of Pacific Ethanol by 21.9% in the second quarter. Voya Investment Management LLC now owns 19,222 shares of the oil and gas company’s stock worth $120,000 after purchasing an additional 3,448 shares during the last quarter. Brandywine Global Investment Management LLC grew its holdings in shares of Pacific Ethanol by 2.8% in the second quarter. Brandywine Global Investment Management LLC now owns 22,350 shares of the oil and gas company’s stock worth $140,000 after purchasing an additional 610 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in shares of Pacific Ethanol in the third quarter worth about $185,000. 81.40% of the stock is currently owned by institutional investors.
Pacific Ethanol Inc (PEIX) opened at $3.85 on Tuesday. The company has a quick ratio of 1.53, a current ratio of 2.30 and a debt-to-equity ratio of 0.56. The company has a market cap of $169.29, a PE ratio of -16.74, a PEG ratio of 0.42 and a beta of 1.84. Pacific Ethanol Inc has a 1-year low of $3.80 and a 1-year high of $9.35.
In other Pacific Ethanol news, Director William L. Jones sold 20,000 shares of the stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $4.30, for a total transaction of $86,000.00. Following the transaction, the director now directly owns 56,903 shares in the company, valued at approximately $244,682.90. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.87% of the stock is owned by corporate insiders.
A number of research analysts have recently commented on PEIX shares. Zacks Investment Research cut shares of Pacific Ethanol from a “hold” rating to a “strong sell” rating in a report on Saturday, October 28th. B. Riley started coverage on shares of Pacific Ethanol in a report on Tuesday, November 28th. They issued a “buy” rating and a $7.00 price target on the stock. Finally, HC Wainwright restated a “buy” rating and issued a $14.00 price target on shares of Pacific Ethanol in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $10.20.
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About Pacific Ethanol
Pacific Ethanol, Inc (Pacific Ethanol) is a marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol markets all the ethanol produced by four ethanol production facilities located in California, Idaho and Oregon, or the Pacific Ethanol Plants, all the ethanol produced by three other ethanol producers in the Western United States and ethanol purchased from other third-party suppliers throughout the United States.
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