Renaissance Technologies LLC lessened its position in Cosan S.A. Sponsored ADR (NYSE:CSAN – Free Report) by 6.2% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,810,669 shares of the company’s stock after selling 252,313 shares during the quarter. Renaissance Technologies LLC owned approximately 0.38% of Cosan worth $15,700,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. UBS Group AG lifted its position in Cosan by 36.9% during the fourth quarter. UBS Group AG now owns 3,492,792 shares of the company’s stock valued at $13,797,000 after buying an additional 941,548 shares during the period. Tejara Capital Ltd purchased a new stake in shares of Cosan in the 4th quarter worth about $1,386,000. Monaco Asset Management SAM grew its position in shares of Cosan by 200.5% in the 4th quarter. Monaco Asset Management SAM now owns 3,004,813 shares of the company’s stock worth $11,869,000 after buying an additional 2,004,813 shares during the period. SG Americas Securities LLC bought a new position in shares of Cosan in the 4th quarter worth about $746,000. Finally, Patriot Financial Group Insurance Agency LLC increased its stake in shares of Cosan by 115.3% in the 1st quarter. Patriot Financial Group Insurance Agency LLC now owns 176,680 shares of the company’s stock worth $728,000 after acquiring an additional 94,605 shares in the last quarter.
Insider Activity
In related news, CEO Marcelo Eduardo Martins purchased 2,441,528 shares of Cosan stock in a transaction dated Tuesday, May 19th. The stock was purchased at an average cost of $5.14 per share, for a total transaction of $12,549,453.92. Following the completion of the purchase, the chief executive officer directly owned 4,890,286 shares of the company’s stock, valued at $25,136,070.04. The trade was a 99.70% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Rubens Ometto Silveira Mello sold 77,640 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $3.44, for a total transaction of $267,081.60. The SEC filing for this sale provides additional information.
Cosan Trading Up 1.7%
Analyst Ratings Changes
CSAN has been the topic of a number of recent research reports. HSBC cut shares of Cosan from a “hold” rating to a “reduce” rating and cut their price objective for the stock from $5.00 to $3.20 in a report on Tuesday, May 26th. Zacks Research upgraded shares of Cosan to a “hold” rating in a report on Thursday, June 18th. Citigroup raised Cosan to a “hold” rating in a research report on Monday, June 29th. Jefferies Financial Group downgraded Cosan to a “hold” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Cosan in a research report on Tuesday, June 9th. Four investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $3.85.
View Our Latest Stock Report on CSAN
Cosan Company Profile
Cosan Limited (NYSE: CSAN) is a Brazilian diversified energy and logistics group focused on agribusiness, fuels, and infrastructure. Its core activities include the cultivation of sugarcane, production of ethanol and sugar, generation of bioelectricity from bagasse, and distribution of fuels under the Raízen joint venture with Shell. Through its subsidiary Moove, Cosan is a leading global producer of base oils and lubricants, while Comgás serves as one of Brazil’s largest natural gas distributors.
Founded in 1936 in the state of São Paulo, Cosan has grown through organic expansion and strategic acquisitions.
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