PNC Financial Services Group Inc. reduced its stake in shares of Renewable Energy Group Inc (NASDAQ:REGI) by 25.3% in the second quarter, Holdings Channel reports. The fund owned 24,283 shares of the oil and gas company’s stock after selling 8,245 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Renewable Energy Group were worth $434,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Affinity Investment Advisors LLC lifted its stake in Renewable Energy Group by 25.6% in the second quarter. Affinity Investment Advisors LLC now owns 27,624 shares of the oil and gas company’s stock worth $493,000 after purchasing an additional 5,630 shares during the last quarter. BNP Paribas Arbitrage SA lifted its stake in Renewable Energy Group by 81.5% in the first quarter. BNP Paribas Arbitrage SA now owns 14,606 shares of the oil and gas company’s stock worth $187,000 after purchasing an additional 6,560 shares during the last quarter. Meeder Asset Management Inc. lifted its stake in Renewable Energy Group by 5,920.5% in the second quarter. Meeder Asset Management Inc. now owns 7,646 shares of the oil and gas company’s stock worth $136,000 after purchasing an additional 7,519 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in Renewable Energy Group in the second quarter worth $138,000. Finally, Municipal Employees Retirement System of Michigan lifted its stake in Renewable Energy Group by 6.8% in the second quarter. Municipal Employees Retirement System of Michigan now owns 144,490 shares of the oil and gas company’s stock worth $2,579,000 after purchasing an additional 9,260 shares during the last quarter.

REGI has been the subject of several recent analyst reports. ValuEngine raised shares of Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 2nd. BidaskClub downgraded shares of Renewable Energy Group from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 13th. Canaccord Genuity upped 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 raised shares of Renewable Energy Group from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research note on Saturday, August 11th. One analyst has rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $20.50.

Shares of NASDAQ REGI opened at $27.20 on Wednesday. Renewable Energy Group Inc has a 1 year low of $9.50 and a 1 year high of $28.15. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.06 and a current ratio of 1.48. The stock has a market cap of $1.02 billion, a P/E ratio of -13.33 and a beta of 1.16.

Renewable Energy Group (NASDAQ:REGI) last announced its quarterly earnings results on Monday, August 6th. The oil and gas company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.32. Renewable Energy Group had a net margin of 8.64% and a return on equity of 32.12%. The company had revenue of $580.15 million for the quarter, compared to analysts’ expectations of $572.60 million. equities analysts predict that Renewable Energy Group Inc will post 2.07 EPS for the current fiscal year.

In other Renewable Energy Group news, VP Eric Bowen sold 6,769 shares of the company’s stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $27.11, for a total value of $183,507.59. Following the sale, the vice president now owns 104,452 shares in the company, valued at $2,831,693.72. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Gary Haer sold 13,581 shares of the company’s stock in a transaction dated Thursday, August 9th. The stock was sold at an average price of $20.65, for a total transaction of $280,447.65. Following the completion of the sale, the vice president now owns 77,329 shares in the company, valued at approximately $1,596,843.85. The disclosure for this sale can be found here. Insiders have sold 40,350 shares of company stock worth $1,012,955 in the last quarter. 1.97% of the stock is owned by corporate insiders.

Renewable Energy Group 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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