Russell Investments Group Ltd. grew its position in Renewable Energy Group, Inc. (NASDAQ:REGI) by 59.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 96,924 shares of the oil and gas company’s stock after purchasing an additional 36,185 shares during the period. Russell Investments Group Ltd. owned approximately 0.25% of Renewable Energy Group worth $1,255,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Denver Investment Advisors LLC bought a new stake in Renewable Energy Group during the first quarter worth about $113,000. O Shaughnessy Asset Management LLC raised its holdings in Renewable Energy Group by 155.9% during the first quarter. O Shaughnessy Asset Management LLC now owns 11,754 shares of the oil and gas company’s stock worth $123,000 after acquiring an additional 7,160 shares in the last quarter. Gilbert & Cook Inc. raised its holdings in Renewable Energy Group by 1.8% during the second quarter. Gilbert & Cook Inc. now owns 12,623 shares of the oil and gas company’s stock worth $163,000 after acquiring an additional 220 shares in the last quarter. First Quadrant L P CA bought a new stake in Renewable Energy Group during the second quarter worth about $210,000. Finally, Fox Run Management L.L.C. bought a new stake in Renewable Energy Group during the second quarter worth about $243,000.
Several research firms recently issued reports on REGI. ValuEngine upgraded Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a report on Friday, July 14th. Roth Capital set a $17.00 target price on Renewable Energy Group and gave the stock a “buy” rating in a report on Wednesday, June 14th. Canaccord Genuity reiterated a “buy” rating and set a $16.00 target price on shares of Renewable Energy Group in a report on Wednesday, June 14th. BidaskClub upgraded Renewable Energy Group from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, Piper Jaffray Companies set a $13.00 target price on Renewable Energy Group and gave the stock a “hold” rating in a report on Saturday, July 22nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Renewable Energy Group presently has a consensus rating of “Buy” and an average price target of $15.00.
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In related news, major shareholder Carlson Capital L. P sold 65,000 shares of Renewable Energy Group stock in a transaction that occurred on Monday, June 26th. The shares were sold at an average price of $12.83, for a total value of $833,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.28% of the stock is currently owned by insiders.
Renewable Energy Group, Inc. (NASDAQ REGI) traded up 1.037% during mid-day trading on Monday, reaching $12.175. The company had a trading volume of 94,789 shares. The company’s market capitalization is $471.04 million. The stock has a 50 day moving average price of $11.98 and a 200 day moving average price of $11.22. Renewable Energy Group, Inc. has a one year low of $7.91 and a one year high of $13.39.
Renewable Energy Group (NASDAQ:REGI) last released 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 business had revenue of $535.10 million during the quarter, compared to analysts’ expectations of $531.88 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The firm’s quarterly revenue was down 4.2% on a year-over-year basis. On average, equities analysts expect that Renewable Energy Group, Inc. will post ($1.56) earnings per share for the current fiscal year.
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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