Renewable Energy Group, Inc. (REGI) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in Renewable Energy Group, Inc. (NASDAQ:REGI) by 1.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 229,683 shares of the oil and gas company’s stock after selling 3,175 shares during the quarter. Bank of New York Mellon Corp owned about 0.60% of Renewable Energy Group worth $2,975,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Thomson Horstmann & Bryant Inc. lifted its holdings in shares of Renewable Energy Group by 41.2% during the second quarter. Thomson Horstmann & Bryant Inc. now owns 615,956 shares of the oil and gas company’s stock worth $7,976,000 after purchasing an additional 179,714 shares during the period. Acadian Asset Management LLC lifted its holdings in shares of Renewable Energy Group by 61.7% during the second quarter. Acadian Asset Management LLC now owns 410,024 shares of the oil and gas company’s stock worth $5,311,000 after purchasing an additional 156,520 shares during the period. Rubric Capital Management LP acquired a new stake in shares of Renewable Energy Group during the second quarter worth $1,886,000. Bank of America Corp DE lifted its holdings in shares of Renewable Energy Group by 30.7% during the first quarter. Bank of America Corp DE now owns 582,061 shares of the oil and gas company’s stock worth $6,083,000 after purchasing an additional 136,620 shares during the period. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of Renewable Energy Group during the second quarter worth $1,751,000.

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Shares of Renewable Energy Group, Inc. (NASDAQ REGI) opened at 11.75 on Wednesday. Renewable Energy Group, Inc. has a 12-month low of $8.10 and a 12-month high of $13.55. The firm’s market cap is $454.60 million. The firm has a 50-day moving average price of $12.34 and a 200-day moving average price of $11.71.

Renewable Energy Group (NASDAQ:REGI) last issued its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.13). The company had revenue of $535.10 million for the quarter, compared to the consensus estimate of $531.88 million. Renewable Energy Group had a positive return on equity of 6.20% and a negative net margin of 0.36%. Renewable Energy Group’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.18 earnings per share. On average, equities research analysts expect that Renewable Energy Group, Inc. will post ($1.56) earnings per share for the current fiscal year.

REGI has been the subject of several recent research reports. Zacks Investment Research raised Renewable Energy Group from a “sell” rating to a “hold” rating in a report on Thursday, October 5th. BidaskClub downgraded Renewable Energy Group from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Piper Jaffray Companies set a $13.00 price target on Renewable Energy Group and gave the stock a “hold” rating in a report on Saturday, July 22nd. Roth Capital set a $17.00 price target on Renewable Energy Group and gave the stock a “buy” rating in a report on Wednesday, June 14th. Finally, ValuEngine downgraded Renewable Energy Group from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 8th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $15.33.

About Renewable Energy Group

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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Institutional Ownership by Quarter for Renewable Energy Group (NASDAQ:REGI)

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