PNC Financial Services Group Inc. Sells 8,245 Shares of Renewable Energy Group Inc (REGI)

PNC Financial Services Group Inc. trimmed its holdings in Renewable Energy Group Inc (NASDAQ:REGI) by 25.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,283 shares of the oil and gas company’s stock after selling 8,245 shares during the period. PNC Financial Services Group Inc. owned approximately 0.07% of Renewable Energy Group worth $434,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. grew its stake in Renewable Energy Group by 5,920.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 7,646 shares of the oil and gas company’s stock valued at $136,000 after buying an additional 7,519 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in Renewable Energy Group in the 2nd quarter valued at approximately $138,000. Susquehanna Fundamental Investments LLC purchased a new position in Renewable Energy Group in the 1st quarter valued at approximately $131,000. Sun Life Financial INC purchased a new position in Renewable Energy Group in the 2nd quarter valued at approximately $198,000. Finally, State of Alaska Department of Revenue purchased a new position in Renewable Energy Group in the 2nd quarter valued at approximately $197,000.

REGI has been the subject of a number of recent research reports. ValuEngine upgraded shares of Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 2nd. BidaskClub lowered shares of Renewable Energy Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 13th. Canaccord Genuity lifted their price objective on shares of Renewable Energy Group from $16.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, June 26th. Roth Capital set a $25.00 price objective on shares of Renewable Energy Group and gave the company a “buy” rating in a research note on Tuesday, August 7th. Finally, Zacks Investment Research upgraded shares of Renewable Energy Group from a “hold” rating to a “buy” rating and set a $23.00 price target for the company in a research report on Saturday, August 11th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $20.50.

REGI opened at $27.20 on Wednesday. The firm has a market cap of $1.02 billion, a PE ratio of -13.33 and a beta of 1.16. The company has a quick ratio of 1.06, a current ratio of 1.48 and a debt-to-equity ratio of 0.04. Renewable Energy Group Inc has a one year low of $9.50 and a one year high of $28.15.

Renewable Energy Group (NASDAQ:REGI) last released its quarterly earnings results on Monday, August 6th. The oil and gas company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.32. The firm had revenue of $580.15 million during the quarter, compared to analyst estimates of $572.60 million. Renewable Energy Group had a net margin of 8.64% and a return on equity of 32.12%. sell-side analysts forecast that Renewable Energy Group Inc will post 2.07 EPS for the current fiscal year.

In other news, VP Eric Bowen sold 6,769 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $27.11, for a total transaction of $183,507.59. Following the completion of the transaction, the vice president now directly owns 104,452 shares in the company, valued at approximately $2,831,693.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the vice president now owns 77,329 shares of the company’s stock, valued at $1,596,843.85. The disclosure for this sale can be found here. Insiders have sold a total of 40,350 shares of company stock valued at $1,012,955 over the last 90 days. Company insiders own 1.97% of the company’s stock.

Renewable Energy Group Company Profile

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.

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

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