Victory Capital Management Inc. Sells 5,927 Shares of Renewable Energy Group Inc (NASDAQ:REGI)

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Victory Capital Management Inc. cut its holdings in Renewable Energy Group Inc (NASDAQ:REGI) by 63.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,412 shares of the oil and gas company’s stock after selling 5,927 shares during the period. Victory Capital Management Inc.’s holdings in Renewable Energy Group were worth $54,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. BlackRock Inc. increased its position in shares of Renewable Energy Group by 1.3% in the second quarter. BlackRock Inc. now owns 5,970,300 shares of the oil and gas company’s stock valued at $94,689,000 after acquiring an additional 74,926 shares during the period. Vanguard Group Inc. increased its position in shares of Renewable Energy Group by 11.3% in the second quarter. Vanguard Group Inc. now owns 4,670,705 shares of the oil and gas company’s stock valued at $74,078,000 after acquiring an additional 473,992 shares during the period. JPMorgan Chase & Co. increased its position in shares of Renewable Energy Group by 15.0% in the second quarter. JPMorgan Chase & Co. now owns 1,625,943 shares of the oil and gas company’s stock valued at $26,242,000 after acquiring an additional 212,277 shares during the period. Invesco Ltd. increased its position in shares of Renewable Energy Group by 102.9% in the second quarter. Invesco Ltd. now owns 1,616,509 shares of the oil and gas company’s stock valued at $25,637,000 after acquiring an additional 819,667 shares during the period. Finally, DNB Asset Management AS increased its position in shares of Renewable Energy Group by 79.9% in the second quarter. DNB Asset Management AS now owns 1,455,535 shares of the oil and gas company’s stock valued at $23,085,000 after acquiring an additional 646,621 shares during the period.

Shares of NASDAQ REGI opened at $15.61 on Friday. Renewable Energy Group Inc has a 1 year low of $9.90 and a 1 year high of $32.52. The company has a current ratio of 1.14, a quick ratio of 0.58 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average is $13.96 and its 200 day moving average is $16.28.

Renewable Energy Group (NASDAQ:REGI) last announced its quarterly earnings results on Tuesday, August 6th. The oil and gas company reported ($1.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.59) by ($0.92). Renewable Energy Group had a negative net margin of 2.88% and a negative return on equity of 5.90%. The company had revenue of $560.64 million for the quarter, compared to analysts’ expectations of $572.93 million. On average, research analysts anticipate that Renewable Energy Group Inc will post -2.17 EPS for the current fiscal year.

REGI has been the topic of a number of analyst reports. ValuEngine upgraded shares of Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, September 10th. BidaskClub upgraded shares of Renewable Energy Group from a “hold” rating to a “buy” rating in a research report on Saturday, October 5th. Roth Capital upgraded shares of Renewable Energy Group from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a research report on Monday, June 24th. BWS Financial restated a “buy” rating on shares of Renewable Energy Group in a research report on Friday, September 6th. Finally, Zacks Investment Research upgraded shares of Renewable Energy Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $29.75.

Renewable Energy Group Profile

Renewable Energy Group, Inc produces cleaner and lower carbon transportation fuels. The company utilizes an integrated production, distribution, and logistics system to convert natural fats, oils, and greases into advanced biofuels. It operates through Biomass-Based Diesel, Services, and Corporate and Other segments.

Further Reading: Net Margin

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

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