Double Black Diamond Offshore Ltd stated that they own a 10.1% stake in Renewable Energy Group Inc (NASDAQ:REGI) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Wednesday, October 5th. The investor owns 3,900,000 shares of the stock worth $34,359,000. The reporting parties listed on the disclosure included Double Black Diamond Offshore Ltd, Black Diamond Thematic Offshore Ltd, Carlson Capital, LP, Asgard Investment Corp II and Clint D Carlson. The filing is available through the SEC website at this hyperlink.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can purchased a new position in Renewable Energy Group during the second quarter valued at about $117,000. Thomson Horstmann & Bryant Inc. increased its position in Renewable Energy Group by 25.9% in the second quarter. Thomson Horstmann & Bryant Inc. now owns 1,300,189 shares of the company’s stock valued at $11,480,000 after buying an additional 267,851 shares in the last quarter. DNB Asset Management AS increased its position in Renewable Energy Group by 2.1% in the second quarter. DNB Asset Management AS now owns 3,326,951 shares of the company’s stock valued at $29,377,000 after buying an additional 68,408 shares in the last quarter. Flagship Ventures Fund 2007 L.P. purchased a new position in Renewable Energy Group during the first quarter valued at about $317,000. Finally, Barclays PLC increased its position in Renewable Energy Group by 376.5% in the first quarter. Barclays PLC now owns 109,400 shares of the company’s stock valued at $984,000 after buying an additional 86,441 shares in the last quarter.
Renewable Energy Group Inc (NASDAQ:REGI) traded up 1.26% during trading on Wednesday, reaching $8.81. The company’s stock had a trading volume of 475,245 shares. The company’s market cap is $340.76 million. The stock’s 50-day moving average is $8.59 and its 200 day moving average is $9.03. Renewable Energy Group Inc has a 12 month low of $6.02 and a 12 month high of $10.43.
Renewable Energy Group (NASDAQ:REGI) last issued its earnings results on Thursday, August 4th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by $0.12. The business had revenue of $558 million for the quarter, compared to analysts’ expectations of $417.78 million. During the same quarter in the prior year, the company earned ($0.05) EPS. Renewable Energy Group’s quarterly revenue was up 49.3% on a year-over-year basis. On average, equities analysts forecast that Renewable Energy Group Inc will post $1.25 EPS for the current fiscal year.
Several analysts have commented on the stock. Canaccord Genuity reiterated a “hold” rating and set a $10.50 target price on shares of Renewable Energy Group in a research report on Thursday, August 4th. Zacks Investment Research cut shares of Renewable Energy Group from a “hold” rating to a “sell” rating in a research report on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $10.67.
In other Renewable Energy Group news, Director Peter John Martin Harding purchased 5,000 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were bought at an average price of $9.07 per share, for a total transaction of $45,350.00. Following the completion of the acquisition, the director now owns 49,271 shares in the company, valued at $446,887.97. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Renewable Energy Group Company Profile
Renewable Energy Group, Inc is focused on providing cleaner, lower carbon intensity products and services while also providing conventional products and services. The Company is a producer of biomass-based diesel in the United States. Its segments include Biomass-based diesel, Services, Renewable Chemicals and Corporate and other activities.
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