Macquarie Group Ltd. decreased its holdings in shares of Cosan Ltd (NYSE:CZZ) by 83.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,659 shares of the basic materials company’s stock after selling 24,192 shares during the quarter. Macquarie Group Ltd.’s holdings in Cosan were worth $41,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in CZZ. Jane Street Group LLC bought a new position in shares of Cosan during the fourth quarter valued at approximately $3,757,000. WBI Investments Inc. bought a new position in shares of Cosan during the fourth quarter valued at approximately $2,442,000. JPMorgan Chase & Co. grew its stake in shares of Cosan by 20.0% during the third quarter. JPMorgan Chase & Co. now owns 1,112,532 shares of the basic materials company’s stock valued at $7,488,000 after buying an additional 185,508 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Cosan by 912.3% during the fourth quarter. SG Americas Securities LLC now owns 170,445 shares of the basic materials company’s stock valued at $1,500,000 after buying an additional 153,608 shares during the last quarter. Finally, Cipher Capital LP bought a new position in shares of Cosan during the fourth quarter valued at approximately $774,000. 27.12% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have recently commented on the company. Zacks Investment Research cut Cosan from a “hold” rating to a “sell” rating in a research note on Monday, April 8th. JPMorgan Chase & Co. raised Cosan from a “neutral” rating to an “overweight” rating and upped their target price for the company from $12.50 to $13.00 in a research note on Tuesday, February 19th. Finally, Morgan Stanley raised Cosan from an “equal weight” rating to an “overweight” rating and set a $13.00 target price on the stock in a research note on Wednesday, January 16th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Cosan currently has a consensus rating of “Hold” and an average price target of $11.92.
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Cosan Limited, together with its subsidiaries, engages in fuel and natural gas distribution, logistics, lubricant, sugar and ethanol businesses primarily in Brazil and internationally. The company's Raízen Energia produces and markets products derived from sugar cane, including raw sugar, anhydrous, and hydrated ethanol, as well as activities related to energy cogeneration from sugarcane bagasse.
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