California Public Employees Retirement System reduced its stake in shares of Renewable Energy Group Inc (NASDAQ:REGI) by 5.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 476,267 shares of the company’s stock after selling 28,400 shares during the period. California Public Employees Retirement System’s holdings in Renewable Energy Group were worth $4,034,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in Renewable Energy Group by 181.2% in the second quarter. BlackRock Inc. now owns 12,324 shares of the company’s stock valued at $109,000 after buying an additional 7,942 shares in the last quarter. Bank of Montreal Can increased its position in Renewable Energy Group by 1.4% in the third quarter. Bank of Montreal Can now owns 13,412 shares of the company’s stock valued at $114,000 after buying an additional 182 shares in the last quarter. Deere & Co. bought a new position in Renewable Energy Group during the second quarter valued at approximately $123,000. State Board of Administration of Florida Retirement System bought a new position in Renewable Energy Group during the second quarter valued at approximately $129,000. Finally, Princeton Alpha Management LP bought a new position in Renewable Energy Group during the second quarter valued at approximately $169,000.

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

Shares of Renewable Energy Group Inc (NASDAQ:REGI) traded down 0.52% during midday trading on Tuesday, reaching $9.60. 694,112 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $9.06 and a 200 day moving average price of $8.94. The company’s market cap is $370.11 million. Renewable Energy Group Inc has a 12 month low of $6.01 and a 12 month high of $10.43.

Renewable Energy Group (NASDAQ:REGI) last released its earnings results on Wednesday, November 2nd. The company reported $0.59 EPS for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.06. The firm earned $624.64 million during the quarter, compared to the consensus estimate of $491.80 million. Renewable Energy Group’s revenue for the quarter was up 58.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.36) EPS. Equities research analysts forecast that Renewable Energy Group Inc will post $1.17 earnings per share for the current fiscal year.

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REGI has been the topic of several research reports. Zacks Investment Research upgraded shares of Renewable Energy Group from a “sell” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Tuesday, November 8th. Canaccord Genuity restated a “hold” rating and issued a $10.50 price target on shares of Renewable Energy Group in a research note on Wednesday, September 14th. Finally, Piper Jaffray Cos. downgraded shares of Renewable Energy Group from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $12.00 to $9.00 in a research note on Thursday, November 3rd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $9.83.

In other Renewable Energy Group news, Director Peter John Martin Harding bought 5,000 shares of the stock in a transaction dated Friday, September 16th. The shares were bought at an average cost of $8.13 per share, for a total transaction of $40,650.00. Following the purchase, the director now directly owns 56,637 shares of the company’s stock, valued at approximately $460,458.81. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.

Renewable Energy Group Company Profile

Renewable Energy Group, Inc is focused on providing cleaner, lower carbon intensity products and services while also providing conventional products and services. The Company is a producer of biomass-based diesel in the United States. Its segments include Biomass-based diesel, Services, Renewable Chemicals and Corporate and other activities.

5 Day Chart for NASDAQ:REGI

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