Nuveen LLC Invests $359,000 in Montauk Renewables, Inc. $MNTK

Key Points

• Nuveen LLC has acquired 171,759 shares of Montauk Renewables, valued at approximately $359,000, marking a new position for the firm in the company.
• Institutional investors collectively own 16.35% of Montauk Renewables, with several firms increasing their stakes significantly in recent quarters.
• Montauk Renewables received a downgrade from Wall Street Zen, lowering its rating from "hold" to "sell," while the company currently has a consensus price target of $3.33.

Nuveen LLC purchased a new stake in shares of Montauk Renewables, Inc. (NASDAQ:MNTK - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 171,759 shares of the company's stock, valued at approximately $359,000. Nuveen LLC owned 0.12% of Montauk Renewables as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP grew its position in Montauk Renewables by 5.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 851,345 shares of the company's stock valued at $3,389,000 after buying an additional 46,558 shares during the period. Northern Trust Corp grew its position in Montauk Renewables by 3.8% during the fourth quarter. Northern Trust Corp now owns 618,629 shares of the company's stock valued at $2,462,000 after buying an additional 22,685 shares during the period. Charles Schwab Investment Management Inc. grew its position in Montauk Renewables by 2.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 508,654 shares of the company's stock valued at $1,063,000 after buying an additional 12,248 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Montauk Renewables by 24.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 280,639 shares of the company's stock valued at $1,117,000 after buying an additional 54,349 shares during the period. Finally, ABC Arbitrage SA grew its position in Montauk Renewables by 677.1% during the first quarter. ABC Arbitrage SA now owns 107,912 shares of the company's stock valued at $226,000 after buying an additional 94,026 shares during the period. Institutional investors own 16.35% of the company's stock.

Montauk Renewables Stock Performance

MNTK traded up $0.06 during trading hours on Thursday, hitting $2.10. The stock had a trading volume of 162,398 shares, compared to its average volume of 144,770. The company's fifty day simple moving average is $2.15 and its 200 day simple moving average is $2.24. Montauk Renewables, Inc. has a 1 year low of $1.68 and a 1 year high of $6.04. The stock has a market cap of $298.75 million, a PE ratio of 105.00 and a beta of 0.07. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.23.

Montauk Renewables (NASDAQ:MNTK - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.05). Montauk Renewables had a return on equity of 1.01% and a net margin of 1.46%.The firm had revenue of $45.13 million during the quarter, compared to analysts' expectations of $42.73 million. Equities analysts anticipate that Montauk Renewables, Inc. will post 0.19 earnings per share for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen lowered shares of Montauk Renewables from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $3.33.

About Montauk Renewables

Montauk Renewables, Inc, a renewable energy company, engages in recovery and processing of biogas from landfills and other non-fossil fuel sources. It operates in two segments, Renewable Natural Gas and Renewable Electricity Generation. The company develops, owns, and operates renewable natural gas (RNG) projects that captures methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.