Seven Eight Capital LP Invests $239,000 in Renewable Energy Group Inc (REGI) Stock

Seven Eight Capital LP acquired a new stake in Renewable Energy Group Inc (NASDAQ:REGI) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 8,300 shares of the oil and gas company’s stock, valued at approximately $239,000.

Other hedge funds have also made changes to their positions in the company. Meeder Asset Management Inc. boosted its stake in Renewable Energy Group by 5,920.5% in the second quarter. Meeder Asset Management Inc. now owns 7,646 shares of the oil and gas company’s stock valued at $136,000 after acquiring an additional 7,519 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in Renewable Energy Group in the second quarter valued at approximately $138,000. Paloma Partners Management Co bought a new position in Renewable Energy Group in the second quarter valued at approximately $194,000. Sun Life Financial INC bought a new position in Renewable Energy Group in the second quarter valued at approximately $198,000. Finally, State of Alaska Department of Revenue bought a new position in Renewable Energy Group in the second quarter valued at approximately $197,000.

A number of brokerages have recently weighed in on REGI. Canaccord Genuity set a $31.00 price target on shares of Renewable Energy Group and gave the stock a “buy” rating in a research report on Monday, October 15th. Roth Capital set a $35.00 price target on shares of Renewable Energy Group and gave the stock a “buy” rating in a research report on Wednesday, October 17th. BidaskClub raised shares of Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, October 19th. Finally, Zacks Investment Research cut shares of Renewable Energy Group from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, October 10th. Two investment analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $25.50.

In related news, VP Eric Bowen sold 20,000 shares of the business’s stock in a transaction on Monday, September 17th. The shares were sold at an average price of $27.45, for a total value of $549,000.00. Following the sale, the vice president now directly owns 84,241 shares of the company’s stock, valued at approximately $2,312,415.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Gary Haer sold 13,581 shares of the business’s stock in a transaction on Thursday, August 9th. The shares were sold at an average price of $20.65, for a total transaction of $280,447.65. Following the completion of the sale, the vice president now directly owns 77,329 shares in the company, valued at $1,596,843.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,350 shares of company stock worth $1,012,955. Insiders own 1.97% of the company’s stock.

Shares of NASDAQ REGI opened at $29.39 on Tuesday. The firm has a market cap of $1.10 billion, a PE ratio of -14.41 and a beta of 1.20. Renewable Energy Group Inc has a twelve month low of $9.50 and a twelve month high of $31.62. The company has a current ratio of 1.48, a quick ratio of 1.06 and a debt-to-equity ratio of 0.04.

Renewable Energy Group (NASDAQ:REGI) last announced its quarterly earnings results on Monday, August 6th. The oil and gas company reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.32. The company had revenue of $580.15 million for the quarter, compared to analysts’ expectations of $572.60 million. Renewable Energy Group had a net margin of 8.64% and a return on equity of 32.12%. As a group, equities analysts anticipate that Renewable Energy Group Inc will post 1.61 earnings per share for the current fiscal year.

About Renewable Energy Group

Renewable Energy Group, Inc produces and sells biofuels and renewable chemicals in North America. The company operates through Biomass-Based Diesel, Services, Renewable Chemicals, and Corporate and Other segments. It acquires feedstock; and manages construction and operates biomass-based diesel production facilities.

See Also: Earnings Per Share (EPS)

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

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