Cinctive Capital Management LP Takes Position in Green Plains, Inc. $GPRE

Key Points

• Cinctive Capital Management acquired a new position of 225,055 shares in Green Plains (NASDAQ:GPRE) in Q3, valued at about $1.98 million and representing roughly 0.32% ownership.
• Several other institutions (AQR, UBS AM, Envestnet, among others) also boosted or initiated stakes, and multiple analysts have raised ratings and price targets recently, but the consensus remains "Hold" with an average target of $13.14.
• Green Plains beat quarterly EPS expectations ($0.17 vs. $0.07) despite a 26.6% revenue decline year-over-year and negative net margin/ROE; the stock trades near $15.37 with a market cap around $1.07 billion.

Cinctive Capital Management LP acquired a new position in shares of Green Plains, Inc. (NASDAQ:GPRE - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 225,055 shares of the specialty chemicals company's stock, valued at approximately $1,978,000. Cinctive Capital Management LP owned approximately 0.32% of Green Plains as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its stake in Green Plains by 62.5% in the first quarter. AQR Capital Management LLC now owns 152,731 shares of the specialty chemicals company's stock worth $741,000 after acquiring an additional 58,767 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Green Plains by 69.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 559,216 shares of the specialty chemicals company's stock valued at $2,712,000 after purchasing an additional 229,353 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Green Plains by 112.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 85,720 shares of the specialty chemicals company's stock valued at $517,000 after purchasing an additional 45,397 shares in the last quarter. Savant Capital LLC purchased a new stake in shares of Green Plains during the 2nd quarter worth $119,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Green Plains during the 2nd quarter worth $85,000.

Analysts Set New Price Targets

Several research firms recently commented on GPRE. Wall Street Zen raised Green Plains from a "hold" rating to a "buy" rating in a report on Saturday, February 14th. Stephens raised Green Plains from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $10.00 to $17.00 in a report on Monday, February 9th. BMO Capital Markets upped their price objective on Green Plains from $12.00 to $14.00 and gave the stock a "market perform" rating in a research report on Friday, February 6th. Zacks Research upgraded Green Plains from a "strong sell" rating to a "hold" rating in a report on Monday, March 9th. Finally, Oppenheimer raised their target price on Green Plains from $14.00 to $16.00 and gave the stock an "outperform" rating in a research report on Friday, February 6th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat.com, Green Plains currently has a consensus rating of "Hold" and an average price target of $13.14.

Green Plains Trading Down 2.8%

NASDAQ GPRE opened at $15.37 on Tuesday. The firm's fifty day moving average price is $13.09 and its 200 day moving average price is $11.11. Green Plains, Inc. has a 12 month low of $3.14 and a 12 month high of $16.51. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.79 and a quick ratio of 1.24. The company has a market capitalization of $1.07 billion, a price-to-earnings ratio of -8.13, a price-to-earnings-growth ratio of 0.73 and a beta of 1.46.

Green Plains (NASDAQ:GPRE - Get Free Report) last announced its quarterly earnings results on Thursday, February 5th. The specialty chemicals company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.10. Green Plains had a negative net margin of 5.80% and a negative return on equity of 8.70%. The firm had revenue of $428.85 million during the quarter, compared to analysts' expectations of $536.56 million. During the same period in the previous year, the company earned ($0.86) earnings per share. Green Plains's quarterly revenue was down 26.6% compared to the same quarter last year. On average, sell-side analysts expect that Green Plains, Inc. will post -0.5 earnings per share for the current fiscal year.

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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