Assenagon Asset Management S.A. Sells 865,930 Shares of Green Plains, Inc. $GPRE

Key Points

• Assenagon Asset Management cut its Green Plains stake by 77.7% in the second quarter, selling 865,930 shares and retaining 248,813 shares valued at approximately $3.83 million.
• Green Plains reported quarterly EPS of $0.83, beating analyst expectations of $0.54, although revenue of $446.2 million fell short of the $542.4 million consensus estimate.
• Analyst sentiment remains mixed, with three Buy, three Hold and three Sell ratings; the stock carries a consensus Hold rating and a $15.43 price target, near its reported share price of $15.11.

Assenagon Asset Management S.A. decreased its holdings in shares of Green Plains, Inc. (NASDAQ:GPRE - Free Report) by 77.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 248,813 shares of the specialty chemicals company's stock after selling 865,930 shares during the quarter. Assenagon Asset Management S.A. owned 0.35% of Green Plains worth $3,827,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of GPRE. Kailix Advisors LLC grew its stake in shares of Green Plains by 18.5% in the fourth quarter. Kailix Advisors LLC now owns 1,369,211 shares of the specialty chemicals company's stock valued at $13,418,000 after acquiring an additional 213,888 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in Green Plains in the 1st quarter worth about $1,166,000. Dimensional Fund Advisors LP raised its stake in Green Plains by 9.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,643,651 shares of the specialty chemicals company's stock worth $27,039,000 after purchasing an additional 145,741 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in Green Plains by 112.6% in the 4th quarter. BNP Paribas Financial Markets now owns 1,823,740 shares of the specialty chemicals company's stock valued at $17,873,000 after purchasing an additional 966,069 shares during the period. Finally, Hillsdale Investment Management Inc. bought a new stake in Green Plains in the 1st quarter valued at about $4,596,000.

Green Plains Stock Performance

Shares of Green Plains stock opened at $15.11 on Thursday. The company has a 50 day moving average of $15.89 and a 200-day moving average of $15.49. Green Plains, Inc. has a 1-year low of $7.53 and a 1-year high of $19.65. The company has a current ratio of 1.99, a quick ratio of 1.58 and a debt-to-equity ratio of 0.45. The company has a market cap of $1.06 billion, a PE ratio of 9.50 and a beta of 1.17.

Green Plains (NASDAQ:GPRE - Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The specialty chemicals company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.54 by $0.29. Green Plains had a net margin of 6.78% and a return on equity of 14.52%. The business had revenue of $446.22 million for the quarter, compared to analysts' expectations of $542.38 million. During the same period last year, the firm posted ($1.09) earnings per share. As a group, equities research analysts forecast that Green Plains, Inc. will post 2.04 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on GPRE. Zacks Research lowered shares of Green Plains from a "hold" rating to a "strong sell" rating in a research report on Thursday, August 6th. UBS Group boosted their price target on Green Plains from $12.00 to $20.00 and gave the company a "neutral" rating in a research note on Friday, July 17th. BMO Capital Markets reissued a "market perform" rating on shares of Green Plains in a research report on Friday, August 7th. Oppenheimer restated an "outperform" rating and set a $20.00 price objective on shares of Green Plains in a research note on Friday, May 8th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Green Plains in a report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $15.43.

About Green Plains

Green Plains Inc is a leading producer of fuel-grade ethanol and related co-products in the United States. Headquartered in Omaha, Nebraska, the company operates an integrated network of biorefineries that convert corn and other grains into renewable fuels. Through its production facilities, Green Plains supplies ethanol to domestic fuel markets and export channels, supporting efforts to reduce greenhouse gas emissions and promote cleaner-burning transportation options.

Beyond ethanol, Green Plains manufactures a range of co-products that add value throughout the agricultural supply chain.

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