BlueCrest Capital Management Ltd Reduces Position in Green Plains, Inc. (GPRE)
BlueCrest Capital Management Ltd lowered its holdings in Green Plains, Inc. (NASDAQ:GPRE) by 56.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,139 shares of the specialty chemicals company’s stock after selling 34,135 shares during the period. BlueCrest Capital Management Ltd owned approximately 0.06% of Green Plains worth $537,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in GPRE. Comerica Bank grew its holdings in shares of Green Plains by 3.6% in the first quarter. Comerica Bank now owns 39,254 shares of the specialty chemicals company’s stock valued at $934,000 after purchasing an additional 1,378 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new position in shares of Green Plains in the first quarter valued at approximately $204,000. Karp Capital Management Corp acquired a new position in shares of Green Plains in the first quarter valued at approximately $249,000. Parametric Portfolio Associates LLC grew its holdings in shares of Green Plains by 27.1% in the first quarter. Parametric Portfolio Associates LLC now owns 108,210 shares of the specialty chemicals company’s stock valued at $2,678,000 after purchasing an additional 23,040 shares in the last quarter. Finally, Mason Street Advisors LLC grew its holdings in shares of Green Plains by 6.5% in the first quarter. Mason Street Advisors LLC now owns 8,303 shares of the specialty chemicals company’s stock valued at $205,000 after purchasing an additional 506 shares in the last quarter.
A number of brokerages recently weighed in on GPRE. Piper Jaffray Companies set a $19.00 price objective on shares of Green Plains and gave the company a “hold” rating in a report on Friday, October 6th. Zacks Investment Research upgraded shares of Green Plains from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 4th. Craig Hallum started coverage on shares of Green Plains in a report on Thursday, September 14th. They set a “buy” rating and a $29.00 price target for the company. ValuEngine upgraded shares of Green Plains from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. Finally, BidaskClub cut shares of Green Plains from a “hold” rating to a “sell” rating in a report on Friday, August 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $26.50.
Shares of Green Plains, Inc. (NASDAQ:GPRE) opened at 19.50 on Tuesday. Green Plains, Inc. has a 12 month low of $16.35 and a 12 month high of $29.85. The stock’s 50 day moving average is $19.52 and its 200 day moving average is $20.92. The stock has a market cap of $808.94 million, a P/E ratio of 114.04 and a beta of 1.37.
Green Plains (NASDAQ:GPRE) last released its quarterly earnings results on Monday, July 31st. The specialty chemicals company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.29). Green Plains had a return on equity of 0.68% and a net margin of 0.19%. The company had revenue of $886.30 million for the quarter, compared to analyst estimates of $986.88 million. During the same period in the previous year, the business posted $0.21 EPS. The firm’s quarterly revenue was down .2% compared to the same quarter last year. Analysts predict that Green Plains, Inc. will post ($0.32) earnings per share for the current fiscal year.
Green Plains Profile
Green Plains Inc is an ethanol producer. The Company owns and operates assets throughout the ethanol value chain, including upstream, with grain handling and storage through its ethanol production facilities, and downstream, with marketing and distribution services. It operates through four segments: Ethanol Production, Agribusiness and Energy Services, Food and Food Ingredients, and Partnership.
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