Industry News

Meeder Asset Management Inc. Boosts Stock Position in Renewable Energy Group Inc (NASDAQ:REGI)

By August 27, 2019 No Comments

Meeder Asset Management Inc. lifted its position in Renewable Energy Group Inc (NASDAQ:REGI) by 734.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,393 shares of the oil and gas company’s stock after buying an additional 9,147 shares during the quarter. Meeder Asset Management Inc.’s holdings in Renewable Energy Group were worth $165,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Bank of America Corp DE boosted its position in Renewable Energy Group by 50.8% during the fourth quarter. Bank of America Corp DE now owns 65,024 shares of the oil and gas company’s stock valued at $1,671,000 after purchasing an additional 21,908 shares in the last quarter. Strs Ohio boosted its position in Renewable Energy Group by 8.2% during the first quarter. Strs Ohio now owns 33,000 shares of the oil and gas company’s stock valued at $724,000 after purchasing an additional 2,500 shares in the last quarter. LS Investment Advisors LLC boosted its position in Renewable Energy Group by 5.2% during the first quarter. LS Investment Advisors LLC now owns 11,144 shares of the oil and gas company’s stock valued at $245,000 after purchasing an additional 554 shares in the last quarter. SG Americas Securities LLC boosted its position in Renewable Energy Group by 7.6% during the first quarter. SG Americas Securities LLC now owns 8,657 shares of the oil and gas company’s stock valued at $190,000 after purchasing an additional 613 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in Renewable Energy Group during the first quarter valued at about $588,000.

In other news, insider Cynthia J. Warner acquired 4,000 shares of Renewable Energy Group stock in a transaction dated Monday, June 17th. The stock was purchased at an average cost of $14.16 per share, for a total transaction of $56,640.00. Following the completion of the purchase, the insider now directly owns 62,578 shares in the company, valued at approximately $886,104.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 3.01% of the company’s stock.

Several brokerages have weighed in on REGI. Zacks Investment Research downgraded Renewable Energy Group from a “hold” rating to a “strong sell” rating in a report on Friday, July 19th. TheStreet downgraded Renewable Energy Group from a “b” rating to a “c+” rating in a report on Friday, May 3rd. ValuEngine raised Renewable Energy Group from a “hold” rating to a “buy” rating in a report on Saturday, August 10th. BidaskClub raised Renewable Energy Group from a “strong sell” rating to a “sell” rating in a report on Saturday. Finally, Roth Capital raised Renewable Energy Group from a “neutral” rating to a “buy” rating and set a $22.00 price target for the company in a report on Monday, June 24th. Two analysts have rated the stock with a sell rating and five have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $29.75.

Shares of NASDAQ:REGI opened at $11.62 on Monday. Renewable Energy Group Inc has a 52-week low of $9.90 and a 52-week high of $32.52. The stock has a market cap of $429.71 million, a price-to-earnings ratio of 1.71 and a beta of 1.20. The company has a quick ratio of 0.58, a current ratio of 1.14 and a debt-to-equity ratio of 0.05. The business has a 50-day moving average price of $13.66 and a 200-day moving average price of $19.00.

Renewable Energy Group (NASDAQ:REGI) last announced its quarterly earnings data on Tuesday, August 6th. The oil and gas company reported ($1.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.92). Renewable Energy Group had a negative return on equity of 5.90% and a negative net margin of 2.88%. The firm had revenue of $560.64 million during the quarter, compared to analysts’ expectations of $572.93 million. As a group, equities analysts anticipate that Renewable Energy Group Inc will post -2.24 EPS for the current fiscal year.

Renewable Energy Group Profile

Renewable Energy Group, Inc produces cleaner and lower carbon transportation fuels. The company utilizes an integrated production, distribution, and logistics system to convert natural fats, oils, and greases into advanced biofuels. It operates through Biomass-Based Diesel, Services, and Corporate and Other segments.

Further Reading: What is the Quick Ratio?

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

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