Renaissance Technologies LLC Increases Stock Position in Infinity Natural Resources Inc. $INR

Renaissance Technologies LLC grew its position in Infinity Natural Resources Inc. (NYSE:INR) by 285.3% during the 1st quarter, HoldingsChannel.com reports. The firm owned 337,100 shares of the company’s stock after acquiring an additional 249,600 shares during the quarter. Renaissance Technologies LLC’s holdings in Infinity Natural Resources were worth $5,936,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of INR. Walleye Capital LLC raised its position in Infinity Natural Resources by 74.0% in the first quarter. Walleye Capital LLC now owns 146,557 shares of the company’s stock valued at $2,581,000 after purchasing an additional 62,343 shares during the period. Bleakley Financial Group LLC acquired a new stake in shares of Infinity Natural Resources in the fourth quarter valued at about $610,000. Connors Investor Services Inc. purchased a new stake in shares of Infinity Natural Resources during the 4th quarter valued at about $191,000. CI Investments Inc. raised its holdings in shares of Infinity Natural Resources by 3.3% during the 1st quarter. CI Investments Inc. now owns 275,132 shares of the company’s stock valued at $4,845,000 after buying an additional 8,673 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Infinity Natural Resources by 2.3% during the 1st quarter. Bank of New York Mellon Corp now owns 64,485 shares of the company’s stock worth $1,136,000 after acquiring an additional 1,429 shares in the last quarter.

Insider Buying and Selling

In related news, Director Steven D. Gray acquired 25,000 shares of Infinity Natural Resources stock in a transaction dated Friday, June 12th. The stock was acquired at an average cost of $12.81 per share, with a total value of $320,250.00. Following the purchase, the director directly owned 40,000 shares in the company, valued at $512,400. The trade was a 166.67% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director David P. Poole bought 4,000 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were bought at an average cost of $13.50 per share, for a total transaction of $54,000.00. Following the completion of the transaction, the director directly owned 27,646 shares of the company’s stock, valued at $373,221. This trade represents a 16.92% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last 90 days, insiders acquired 111,400 shares of company stock valued at $1,483,841. 40.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $27.00 price target on shares of Infinity Natural Resources in a research note on Tuesday, July 7th. Weiss Ratings restated a “sell (d)” rating on shares of Infinity Natural Resources in a research note on Friday, July 31st. Zacks Research lowered Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Raymond James Financial cut their price target on Infinity Natural Resources from $30.00 to $26.00 and set a “strong-buy” rating on the stock in a research note on Wednesday, July 8th. Finally, Wall Street Zen downgraded Infinity Natural Resources from a “strong-buy” rating to a “hold” rating in a report on Saturday, May 16th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $24.00.

Infinity Natural Resources Stock Down 0.8%

Shares of INR opened at $12.74 on Thursday. The firm has a 50-day moving average of $12.99. The company has a market cap of $809.12 million, a price-to-earnings ratio of 4.55 and a beta of -0.52. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.98. Infinity Natural Resources Inc. has a 52-week low of $11.13 and a 52-week high of $19.58.

About Infinity Natural Resources

We are a growth oriented, free cash flow generating, independent energy company focused on the acquisition, development, and production of hydrocarbons in the Appalachian Basin. We are focused on creating shareholder value through the identification and disciplined development of low-risk, highly economic oil and natural gas assets while maintaining a strong and flexible balance sheet. Additionally, we have proven our ability to grow our acreage position through organic leasing efforts and accretive acquisitions.