Broad Bay Capital Management LP Has $12.45 Million Holdings in Green Plains, Inc. $GPRE

Key Points

• Broad Bay Capital Management LP has increased its stake in Green Plains, Inc. by 16.1%, owning over 2.5 million shares, which now accounts for 1.8% of its portfolio.
• Green Plains reported a loss of $0.41 per share in its last quarterly earnings, missing analysts' expectations and showing a 10.7% decline in revenue compared to the same quarter last year.
• Brokerage firms have given mixed ratings for Green Plains, with target prices ranging from $7.00 to $14.00, and a consensus rating of "Hold."

Broad Bay Capital Management LP lifted its holdings in Green Plains, Inc. (NASDAQ:GPRE - Free Report) by 16.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,566,086 shares of the specialty chemicals company's stock after purchasing an additional 355,685 shares during the quarter. Green Plains accounts for approximately 1.8% of Broad Bay Capital Management LP's holdings, making the stock its 21st largest position. Broad Bay Capital Management LP owned approximately 3.78% of Green Plains worth $12,446,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. FORA Capital LLC lifted its holdings in shares of Green Plains by 73.3% in the first quarter. FORA Capital LLC now owns 19,838 shares of the specialty chemicals company's stock valued at $96,000 after buying an additional 8,394 shares during the period. Jump Financial LLC acquired a new stake in shares of Green Plains in the first quarter valued at $1,354,000. AlphaQuest LLC lifted its holdings in shares of Green Plains by 115.2% in the first quarter. AlphaQuest LLC now owns 8,981 shares of the specialty chemicals company's stock valued at $44,000 after buying an additional 4,808 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Green Plains in the first quarter valued at $67,000. Finally, Brooklyn Investment Group lifted its holdings in shares of Green Plains by 2,313.4% in the first quarter. Brooklyn Investment Group now owns 9,340 shares of the specialty chemicals company's stock valued at $45,000 after buying an additional 8,953 shares during the period.

Green Plains Stock Up 0.1%

NASDAQ GPRE traded up $0.01 during trading on Monday, reaching $11.11. 2,692,455 shares of the company's stock were exchanged, compared to its average volume of 2,090,848. Green Plains, Inc. has a fifty-two week low of $3.14 and a fifty-two week high of $14.67. The firm has a market capitalization of $728.48 million, a PE ratio of -4.63 and a beta of 1.21. The company has a current ratio of 1.47, a quick ratio of 0.94 and a debt-to-equity ratio of 0.58. The company's fifty day simple moving average is $7.90 and its 200-day simple moving average is $5.83.

Green Plains (NASDAQ:GPRE - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The specialty chemicals company reported ($0.41) EPS for the quarter, missing analysts' consensus estimates of ($0.28) by ($0.13). Green Plains had a negative return on equity of 13.65% and a negative net margin of 6.34%.The business had revenue of $552.83 million for the quarter, compared to analyst estimates of $578.18 million. During the same quarter in the previous year, the business posted ($0.38) earnings per share. The company's revenue was down 10.7% compared to the same quarter last year. Sell-side analysts predict that Green Plains, Inc. will post -0.5 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on GPRE shares. BMO Capital Markets reduced their target price on Green Plains from $8.00 to $7.00 and set a "market perform" rating for the company in a report on Monday, May 12th. Zacks Research raised Green Plains to a "hold" rating in a report on Monday, August 11th. Bank of America reaffirmed an "underperform" rating and set a $7.00 target price (up from $4.50) on shares of Green Plains in a report on Thursday, August 14th. Finally, Oppenheimer raised Green Plains from a "market perform" rating to an "outperform" rating and set a $14.00 target price for the company in a report on Thursday. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $8.83.

About Green Plains

Green Plains Inc produces low-carbon fuels in the United States and internationally. It operates through three segments: Ethanol Production, Agribusiness and Energy Services, and Partnership. The Ethanol Production segment produces ethanol, distillers grains, and ultra-high protein and renewable corn oil.