ClariVest Asset Management LLC Takes Position in Renewable Energy Group, Inc. (REGI)

ClariVest Asset Management LLC purchased a new position in Renewable Energy Group, Inc. (NASDAQ:REGI) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 83,235 shares of the oil and gas company’s stock, valued at approximately $1,078,000. ClariVest Asset Management LLC owned about 0.22% of Renewable Energy Group at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. State Street Corp increased its stake in shares of Renewable Energy Group by 6.0% in the fourth quarter. State Street Corp now owns 669,225 shares of the oil and gas company’s stock worth $6,498,000 after buying an additional 37,663 shares during the period. Bank of Montreal Can increased its stake in shares of Renewable Energy Group by 515.0% in the first quarter. Bank of Montreal Can now owns 103,217 shares of the oil and gas company’s stock worth $1,078,000 after buying an additional 86,433 shares during the period. Quotient Investors LLC purchased a new stake in shares of Renewable Energy Group during the first quarter worth approximately $310,000. Sanders Morris Harris Inc. purchased a new stake in shares of Renewable Energy Group during the first quarter worth approximately $1,752,000. Finally, Acadian Asset Management LLC increased its stake in shares of Renewable Energy Group by 247.1% in the first quarter. Acadian Asset Management LLC now owns 253,504 shares of the oil and gas company’s stock worth $2,649,000 after buying an additional 180,476 shares during the period.

Shares of Renewable Energy Group, Inc. (NASDAQ REGI) opened at 11.10 on Friday. The firm’s market capitalization is $429.45 million. Renewable Energy Group, Inc. has a 52-week low of $7.91 and a 52-week high of $13.39. The company has a 50 day moving average of $12.18 and a 200 day moving average of $10.87.

Renewable Energy Group (NASDAQ:REGI) last posted its quarterly earnings data on Thursday, August 3rd. The oil and gas company reported ($0.06) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by $0.13. The company had revenue of $535.10 million for the quarter, compared to analyst estimates of $531.88 million. Renewable Energy Group had a positive return on equity of 6.20% and a negative net margin of 0.36%. Renewable Energy Group’s quarterly revenue was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 EPS. On average, analysts anticipate that Renewable Energy Group, Inc. will post ($1.56) earnings per share for the current fiscal year.

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REGI has been the subject of a number of recent research reports. Canaccord Genuity upgraded shares of Renewable Energy Group from a “hold” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $16.00 in a report on Friday, May 5th. Zacks Investment Research upgraded shares of Renewable Energy Group from a “hold” rating to a “strong-buy” rating and set a $14.00 price target for the company in a report on Tuesday, May 9th. Roth Capital set a $17.00 price target on shares of Renewable Energy Group and gave the stock a “buy” rating in a report on Wednesday, June 14th. ValuEngine upgraded shares of Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a report on Friday, July 14th. Finally, Piper Jaffray Companies set a $13.00 price target on shares of Renewable Energy Group and gave the stock a “hold” rating in a report on Saturday, July 22nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Renewable Energy Group currently has a consensus rating of “Hold” and an average price target of $15.00.

In other Renewable Energy Group news, Director Christopher D. Sorrells bought 5,000 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were bought at an average price of $11.14 per share, for a total transaction of $55,700.00. Following the acquisition, the director now directly owns 28,146 shares of the company’s stock, valued at $313,546.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Carlson Capital L. P sold 65,000 shares of the company’s stock in a transaction dated Monday, June 26th. The shares were sold at an average price of $12.83, for a total value of $833,950.00. The disclosure for this sale can be found here. 2.28% of the stock is currently owned by insiders.

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.