Russell Investments Group Ltd. Boosts Holdings in Pacific Ethanol Inc (PEIX)
Russell Investments Group Ltd. raised its position in shares of Pacific Ethanol Inc (NASDAQ:PEIX) by 47.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,117,432 shares of the oil and gas company’s stock after acquiring an additional 362,062 shares during the period. Russell Investments Group Ltd. owned approximately 2.54% of Pacific Ethanol worth $6,200,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of PEIX. Brandywine Global Investment Management LLC lifted its stake in shares of Pacific Ethanol by 2.8% during the second quarter. Brandywine Global Investment Management LLC now owns 22,350 shares of the oil and gas company’s stock worth $140,000 after purchasing an additional 610 shares in the last quarter. Nordea Investment Management AB lifted its stake in shares of Pacific Ethanol by 0.9% during the second quarter. Nordea Investment Management AB now owns 286,500 shares of the oil and gas company’s stock worth $1,791,000 after purchasing an additional 2,500 shares in the last quarter. Voya Investment Management LLC lifted its stake in shares of Pacific Ethanol by 21.9% during the second quarter. Voya Investment Management LLC now owns 19,222 shares of the oil and gas company’s stock worth $120,000 after purchasing an additional 3,448 shares in the last quarter. Strs Ohio lifted its stake in shares of Pacific Ethanol by 6.0% during the second quarter. Strs Ohio now owns 95,200 shares of the oil and gas company’s stock worth $595,000 after purchasing an additional 5,400 shares in the last quarter. Finally, First Trust Advisors LP lifted its stake in shares of Pacific Ethanol by 23.2% during the second quarter. First Trust Advisors LP now owns 43,522 shares of the oil and gas company’s stock worth $272,000 after purchasing an additional 8,198 shares in the last quarter. 80.54% of the stock is owned by hedge funds and other institutional investors.
Pacific Ethanol Inc (NASDAQ PEIX) opened at $4.30 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.53 and a current ratio of 2.30. Pacific Ethanol Inc has a one year low of $4.10 and a one year high of $10.95.
Pacific Ethanol (NASDAQ:PEIX) last released its quarterly earnings results on Tuesday, November 7th. The oil and gas company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.09. Pacific Ethanol had a negative return on equity of 2.13% and a negative net margin of 0.51%. The business had revenue of $445.40 million for the quarter, compared to analysts’ expectations of $434.57 million. During the same quarter in the previous year, the firm posted ($0.09) earnings per share. The company’s revenue was up 6.6% compared to the same quarter last year. equities analysts anticipate that Pacific Ethanol Inc will post -0.58 EPS for the current year.
In related news, Director William L. Jones sold 20,000 shares of the business’s stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $4.30, for a total value of $86,000.00. Following the transaction, the director now owns 56,903 shares in the company, valued at $244,682.90. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.87% of the company’s stock.
A number of brokerages have commented on PEIX. B. Riley began coverage on Pacific Ethanol in a research note on Tuesday, November 28th. They set a “buy” rating and a $7.00 price objective on the stock. Zacks Investment Research upgraded Pacific Ethanol from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 17th. HC Wainwright reiterated a “buy” rating and issued a $14.00 price target on shares of Pacific Ethanol in a research note on Thursday, November 9th. Finally, ValuEngine cut Pacific Ethanol from a “hold” rating to a “sell” rating in a research note on Friday, September 1st. Two investment analysts have rated the stock with a sell rating and four have assigned a buy rating to the stock. Pacific Ethanol has an average rating of “Hold” and an average target price of $11.50.
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Pacific Ethanol Company Profile
Pacific Ethanol, Inc (Pacific Ethanol) is a marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol markets all the ethanol produced by four ethanol production facilities located in California, Idaho and Oregon, or the Pacific Ethanol Plants, all the ethanol produced by three other ethanol producers in the Western United States and ethanol purchased from other third-party suppliers throughout the United States.
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