34,268 Darling Ingredients Inc. $DAR Shares Sold by Private Management Group Inc.

Key Points

• Private Management Group cut its Darling Ingredients stake by 4.9%, selling 34,268 shares in the third quarter. It retained 663,586 shares, valued at about $40.3 million at quarter-end.
• Analysts’ consensus rating is “Moderate Buy,” with a consensus price target of $73.80; one analyst rated the stock Strong Buy, nine Buy, and two Hold.
• Darling reported quarterly earnings of $1.67 per share, missing analyst estimates of $1.70, while revenue of $1.79 billion was in line with expectations.

Private Management Group Inc. decreased its holdings in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 4.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 663,586 shares of the company's stock after selling 34,268 shares during the period. Darling Ingredients accounts for about 1.0% of Private Management Group Inc.'s portfolio, making the stock its 23rd biggest position. Private Management Group Inc. owned 0.42% of Darling Ingredients worth $40,286,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Kestra Advisory Services LLC increased its holdings in Darling Ingredients by 4.0% in the third quarter. Kestra Advisory Services LLC now owns 4,960 shares of the company's stock worth $301,000 after purchasing an additional 190 shares in the last quarter. Krilogy Financial LLC boosted its holdings in shares of Darling Ingredients by 3.3% during the 3rd quarter. Krilogy Financial LLC now owns 6,661 shares of the company's stock worth $407,000 after buying an additional 213 shares in the last quarter. HB Wealth Management LLC grew its position in shares of Darling Ingredients by 3.3% during the 2nd quarter. HB Wealth Management LLC now owns 8,487 shares of the company's stock worth $464,000 after buying an additional 269 shares during the period. Basecamp Wealth Advisors LLC grew its position in shares of Darling Ingredients by 35.0% during the 1st quarter. Basecamp Wealth Advisors LLC now owns 1,042 shares of the company's stock worth $64,000 after buying an additional 270 shares during the period. Finally, Waverly Advisors LLC grew its position in shares of Darling Ingredients by 5.8% during the 2nd quarter. Waverly Advisors LLC now owns 5,769 shares of the company's stock worth $315,000 after buying an additional 317 shares during the period. Institutional investors and hedge funds own 94.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on DAR shares. JPMorgan Chase & Co. boosted their target price on shares of Darling Ingredients from $82.00 to $83.00 and gave the company an "overweight" rating in a research report on Monday, October 12th. Barclays increased their target price on shares of Darling Ingredients from $62.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Monday, August 3rd. Stephens restated an "overweight" rating and issued a $80.00 price target on shares of Darling Ingredients in a report on Thursday, October 15th. Wall Street Zen downgraded shares of Darling Ingredients from a "strong-buy" rating to a "buy" rating in a research note on Saturday, October 31st. Finally, Zacks Research downgraded shares of Darling Ingredients from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $73.80.

Darling Ingredients Trading Up 4.6%

Shares of Darling Ingredients stock opened at $52.51 on Tuesday. The stock has a market capitalization of $8.29 billion, a PE ratio of 9.98 and a beta of 1.00. Darling Ingredients Inc. has a 52 week low of $31.81 and a 52 week high of $69.98. The stock has a 50 day moving average price of $60.80 and a two-hundred day moving average price of $58.56. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.03 and a current ratio of 1.56.

Darling Ingredients (NYSE:DAR - Get Free Report) last issued its earnings results on Wednesday, October 28th. The company reported $1.67 earnings per share for the quarter, missing analysts' consensus estimates of $1.70 by ($0.03). Darling Ingredients had a return on equity of 17.76% and a net margin of 12.48%. The firm had revenue of $1.79 billion for the quarter, compared to analyst estimates of $1.79 billion. During the same period in the previous year, the company earned $0.12 earnings per share. As a group, equities analysts anticipate that Darling Ingredients Inc. will post 6.85 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Joseph Manzi sold 1,000 shares of Darling Ingredients stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $67.27, for a total transaction of $67,270.00. Following the completion of the transaction, the chief accounting officer directly owned 18,969 shares in the company, valued at $1,276,044.63. This trade represents a 5.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Patrick McNutt sold 8,000 shares of the business's stock in a transaction dated Friday, August 14th. The stock was sold at an average price of $67.09, for a total transaction of $536,720.00. Following the sale, the executive vice president directly owned 35,777 shares of the company's stock, valued at approximately $2,400,278.93. The trade was a 18.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 1.90% of the stock is currently owned by company insiders.

Darling Ingredients Company Profile

Darling Ingredients Inc collects and transforms animal by-products and other organic materials into ingredients and products used in food, animal feed, fuel and other markets. Its operations help convert materials from meat processing, food production and used cooking oils into usable fats, proteins, oils and other ingredients.

The company's businesses span feed ingredients, food ingredients and fuel ingredients. Products include animal nutrition ingredients, gelatin and collagen, and fats and oils used in food and industrial applications.

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