Rubric Capital Management LP Boosts Stake in Renewable Energy Group Inc (NASDAQ:REGI)

Rubric Capital Management LP grew its holdings in shares of Renewable Energy Group Inc (NASDAQ:REGI) by 512.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 892,068 shares of the oil and gas company’s stock after acquiring an additional 746,444 shares during the period. Renewable Energy Group comprises about 1.0% of Rubric Capital Management LP’s investment portfolio, making the stock its 25th biggest holding. Rubric Capital Management LP owned approximately 2.31% of Renewable Energy Group worth $10,839,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in the company. C M Bidwell & Associates Ltd. acquired a new position in Renewable Energy Group in the second quarter worth about $110,000. Old Mutual Global Investors UK Ltd. acquired a new position in Renewable Energy Group in the third quarter worth about $120,000. Hotchkis & Wiley Capital Management LLC acquired a new position in Renewable Energy Group in the third quarter worth about $139,000. Oppenheimer & Co. Inc. acquired a new position in Renewable Energy Group in the second quarter worth about $142,000. Finally, Federated Investors Inc. PA lifted its holdings in Renewable Energy Group by 17.8% in the second quarter. Federated Investors Inc. PA now owns 11,029 shares of the oil and gas company’s stock worth $143,000 after acquiring an additional 1,668 shares during the last quarter.

A number of brokerages have issued reports on REGI. Zacks Investment Research cut shares of Renewable Energy Group from a “hold” rating to a “sell” rating in a report on Thursday. BidaskClub raised shares of Renewable Energy Group from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $13.00 price target on shares of Renewable Energy Group in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company. Renewable Energy Group currently has an average rating of “Hold” and a consensus target price of $15.33.

Shares of Renewable Energy Group Inc (NASDAQ:REGI) traded down $0.20 during trading hours on Friday, reaching $11.80. The company had a trading volume of 304,304 shares, compared to its average volume of 392,457. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.17 and a current ratio of 1.72. The company has a market capitalization of $464.27, a PE ratio of -10.83 and a beta of 1.48. Renewable Energy Group Inc has a 1 year low of $8.25 and a 1 year high of $13.55.

Renewable Energy Group (NASDAQ:REGI) last posted its quarterly earnings results on Tuesday, November 7th. The oil and gas company reported ($0.29) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.40) by $0.11. Renewable Energy Group had a negative net margin of 1.96% and a positive return on equity of 0.38%. The firm had revenue of $627.00 million for the quarter, compared to analyst estimates of $513.88 million. During the same quarter in the previous year, the business posted $0.59 earnings per share. The firm’s quarterly revenue was up .4% compared to the same quarter last year. equities analysts predict that Renewable Energy Group Inc will post -1.63 earnings per share for the current fiscal year.

Renewable Energy Group declared that its board has authorized a share buyback program on Thursday, December 14th that permits the company to buyback $75.00 million in shares. This buyback authorization permits the oil and gas company to buy shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

In other Renewable Energy Group news, Director Peter John Martin Harding acquired 5,000 shares of Renewable Energy Group stock in a transaction that occurred on Friday, December 15th. The stock was acquired at an average price of $11.14 per share, with a total value of $55,700.00. Following the purchase, the director now owns 64,136 shares in the company, valued at $714,475.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.54% of the company’s stock.

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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.

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

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