Bank of Montreal Can increased its stake in Renewable Energy Group, Inc. (NASDAQ:REGI) by 1.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,810 shares of the oil and gas company’s stock after buying an additional 1,593 shares during the period. Bank of Montreal Can owned about 0.27% of Renewable Energy Group worth $1,358,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Denver Investment Advisors LLC bought a new position in Renewable Energy Group during the first quarter valued at approximately $113,000. O Shaughnessy Asset Management LLC raised its position in Renewable Energy Group by 155.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 11,754 shares of the oil and gas company’s stock valued at $123,000 after buying an additional 7,160 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Renewable Energy Group during the second quarter valued at approximately $243,000. Quotient Investors LLC bought a new position in Renewable Energy Group during the first quarter valued at approximately $310,000. Finally, Metropolitan Life Insurance Co. NY raised its position in Renewable Energy Group by 8.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 31,771 shares of the oil and gas company’s stock valued at $332,000 after buying an additional 2,486 shares in the last quarter.
Shares of Renewable Energy Group, Inc. (REGI) traded up 1.498% during mid-day trading on Friday, reaching $11.114. 154,531 shares of the company traded hands. The stock’s market capitalization is $429.99 million. Renewable Energy Group, Inc. has a 52-week low of $7.91 and a 52-week high of $13.39. The company’s 50 day moving average is $12.23 and its 200 day moving average is $10.85.
Renewable Energy Group (NASDAQ:REGI) last released its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of $0.07 by $0.13. The firm had revenue of $535.10 million during the quarter, compared to analysts’ expectations of $531.88 million. Renewable Energy Group had a positive return on equity of 6.20% and a negative net margin of 0.36%. The business’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.18 earnings per share. On average, equities analysts forecast that Renewable Energy Group, Inc. will post ($1.56) earnings per share for the current year.
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Several research analysts have recently commented on the company. ValuEngine upgraded Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a report on Friday, July 14th. Canaccord Genuity restated a “buy” rating and issued a $16.00 price objective on shares of Renewable Energy Group in a report on Wednesday, June 14th. Zacks Investment Research lowered shares of Renewable Energy Group from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Roth Capital set a $17.00 price objective on shares of Renewable Energy Group and gave the company a “buy” rating in a report on Wednesday, June 14th. Finally, Piper Jaffray Companies set a $13.00 price objective on shares of Renewable Energy Group and gave the company a “hold” rating in a report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $15.00.
In other news, major shareholder Carlson Capital L. P sold 65,000 shares of the firm’s stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $12.83, for a total value of $833,950.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Christopher D. Sorrells acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was purchased at an average price of $11.14 per share, for a total transaction of $55,700.00. Following the completion of the acquisition, the director now owns 28,146 shares in the company, valued at $313,546.44. The disclosure for this purchase can be found here. Company insiders own 2.28% of the company’s stock.
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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