Sterling Capital Management LLC purchased a new position in Renewable Energy Group Inc (NASDAQ:REGI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 38,709 shares of the oil and gas company’s stock, valued at approximately $1,115,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jane Street Group LLC acquired a new position in shares of Renewable Energy Group in the 1st quarter worth approximately $149,000. Millennium Management LLC increased its holdings in Renewable Energy Group by 5,021.0% during the 1st quarter. Millennium Management LLC now owns 695,642 shares of the oil and gas company’s stock valued at $8,904,000 after purchasing an additional 682,058 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in Renewable Energy Group by 48.2% during the 1st quarter. Allianz Asset Management GmbH now owns 300,868 shares of the oil and gas company’s stock valued at $3,852,000 after purchasing an additional 97,825 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Renewable Energy Group during the 2nd quarter valued at $197,000. Finally, Fox Run Management L.L.C. acquired a new stake in Renewable Energy Group during the 2nd quarter valued at $564,000.
A number of research firms recently weighed in on REGI. Roth Capital set a $25.00 price target on Renewable Energy Group and gave the company a “buy” rating in a report on Tuesday, August 7th. BidaskClub cut Renewable Energy Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 3rd. Canaccord Genuity raised their price target on Renewable Energy Group from $20.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, August 7th. Finally, Zacks Investment Research cut Renewable Energy Group from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 10th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Renewable Energy Group currently has a consensus rating of “Buy” and an average price target of $29.67.
Shares of REGI opened at $25.71 on Friday. The firm has a market capitalization of $928.84 million, a price-to-earnings ratio of 4.04 and a beta of 1.21. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.06 and a current ratio of 1.56. Renewable Energy Group Inc has a 52 week low of $9.50 and a 52 week high of $32.52.
Renewable Energy Group (NASDAQ:REGI) last announced its quarterly earnings data on Tuesday, November 6th. The oil and gas company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.49 by $0.04. The firm had revenue of $597.75 million for the quarter, compared to analyst estimates of $594.60 million. Renewable Energy Group had a return on equity of 34.52% and a net margin of 10.21%. Analysts forecast that Renewable Energy Group Inc will post 1.61 EPS for the current year.
In other Renewable Energy Group news, VP Eric Bowen sold 6,769 shares of the stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $27.11, for a total value of $183,507.59. Following the transaction, the vice president now directly owns 104,452 shares in the company, valued at approximately $2,831,693.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.97% of the stock is currently owned by company insiders.
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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