Two Sigma Advisers LP reduced its stake in Renewable Energy Group Inc (NASDAQ:REGI) by 31.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 196,208 shares of the oil and gas company’s stock after selling 91,800 shares during the period. Two Sigma Advisers LP’s holdings in Renewable Energy Group were worth $2,315,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in Renewable Energy Group by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 3,265,620 shares of the oil and gas company’s stock valued at $39,677,000 after acquiring an additional 16,827 shares during the period. DnB Asset Management AS raised its holdings in Renewable Energy Group by 4.7% in the 4th quarter. DnB Asset Management AS now owns 2,626,745 shares of the oil and gas company’s stock valued at $30,996,000 after acquiring an additional 118,653 shares during the period. Towle & Co. raised its holdings in Renewable Energy Group by 0.7% in the 4th quarter. Towle & Co. now owns 1,787,393 shares of the oil and gas company’s stock valued at $21,091,000 after acquiring an additional 12,030 shares during the period. Rubric Capital Management LP raised its holdings in Renewable Energy Group by 512.6% in the 3rd quarter. Rubric Capital Management LP now owns 892,068 shares of the oil and gas company’s stock valued at $10,839,000 after acquiring an additional 746,444 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Renewable Energy Group by 11.0% in the 4th quarter. Renaissance Technologies LLC now owns 580,219 shares of the oil and gas company’s stock valued at $6,847,000 after acquiring an additional 57,614 shares during the period.
In other Renewable Energy Group news, Director Delbert Christensen bought 7,441 shares of the firm’s stock in a transaction on Friday, March 16th. The shares were purchased at an average price of $11.60 per share, for a total transaction of $86,315.60. Following the transaction, the director now directly owns 68,756 shares in the company, valued at approximately $797,569.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Peter John Martin Harding bought 20,000 shares of the firm’s stock in a transaction on Tuesday, March 13th. The shares were acquired at an average price of $10.94 per share, for a total transaction of $218,800.00. Following the transaction, the director now owns 73,592 shares in the company, valued at $805,096.48. The disclosure for this purchase can be found here. Corporate insiders own 1.54% of the company’s stock.
A number of brokerages have issued reports on REGI. BidaskClub lowered shares of Renewable Energy Group from a “sell” rating to a “strong sell” rating in a research report on Thursday, January 18th. ValuEngine lowered shares of Renewable Energy Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 2nd. Zacks Investment Research lowered shares of Renewable Energy Group from a “hold” rating to a “sell” rating in a research report on Thursday, December 28th. Finally, Canaccord Genuity restated a “buy” rating and set a $16.00 target price on shares of Renewable Energy Group in a research report on Tuesday, March 6th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $14.75.
Shares of NASDAQ:REGI opened at $13.80 on Friday. Renewable Energy Group Inc has a 12-month low of $9.50 and a 12-month high of $14.10. The company has a market cap of $532.31, a price-to-earnings ratio of -6.76 and a beta of 1.00. The company has a current ratio of 1.74, a quick ratio of 1.07 and a debt-to-equity ratio of 0.37.
Renewable Energy Group declared that its Board of Directors has initiated a share buyback program on Thursday, December 14th that allows the company to buyback $75.00 million in outstanding shares. This buyback authorization allows the oil and gas company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.
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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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