Renaissance Technologies LLC Sells 252,313 Shares of Cosan S.A. Sponsored ADR $CSAN

Renaissance Technologies LLC reduced its position in Cosan S.A. Sponsored ADR (NYSE:CSAN) by 6.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,810,669 shares of the company’s stock after selling 252,313 shares during the period. Renaissance Technologies LLC’s holdings in Cosan were worth $15,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Royal Bank of Canada increased its position in Cosan by 113,135.4% during the first quarter. Royal Bank of Canada now owns 198,162 shares of the company’s stock valued at $1,034,000 after acquiring an additional 197,987 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in Cosan by 79.4% in the first quarter. Goldman Sachs Group Inc. now owns 49,306 shares of the company’s stock worth $257,000 after purchasing an additional 21,818 shares during the last quarter. Jane Street Group LLC boosted its position in Cosan by 11.1% in the first quarter. Jane Street Group LLC now owns 92,126 shares of the company’s stock worth $481,000 after purchasing an additional 9,181 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Cosan by 4,668.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 46,823 shares of the company’s stock valued at $236,000 after purchasing an additional 45,841 shares during the period. Finally, Russell Investments Group Ltd. bought a new stake in shares of Cosan during the 2nd quarter valued at about $109,000.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. HSBC lowered shares of Cosan from a “hold” rating to a “reduce” rating and reduced their price target for the company from $5.00 to $3.20 in a research report on Tuesday, May 26th. Zacks Research upgraded shares of Cosan to a “hold” rating in a research report on Thursday, June 18th. Jefferies Financial Group cut shares of Cosan to a “hold” rating in a report on Tuesday, May 26th. Citigroup upgraded shares of Cosan to a “hold” rating in a research report on Monday, June 29th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Cosan in a research report on Tuesday, June 9th. Four analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Cosan presently has a consensus rating of “Reduce” and a consensus price target of $3.85.

Cosan Price Performance

Shares of NYSE:CSAN opened at $3.21 on Friday. The company has a market capitalization of $3.19 billion, a P/E ratio of -1.31 and a beta of 0.72. Cosan S.A. Sponsored ADR has a 1-year low of $2.52 and a 1-year high of $6.01. The firm’s 50 day simple moving average is $2.95 and its two-hundred day simple moving average is $3.80. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.87 and a quick ratio of 1.76.

Insiders Place Their Bets

In related news, Director Rubens Ometto Silveira Mello sold 77,640 shares of Cosan stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $3.44, for a total transaction of $267,081.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Marcelo Eduardo Martins bought 2,441,528 shares of the company’s stock in a transaction that occurred on Tuesday, May 19th. The stock was purchased at an average cost of $5.14 per share, with a total value of $12,549,453.92. Following the acquisition, the chief executive officer directly owned 4,890,286 shares in the company, valued at $25,136,070.04. This trade represents a 99.70% increase in their position. The disclosure for this purchase is available in the SEC filing.

About Cosan

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.