Clal Insurance Enterprises Holdings Ltd Purchases 1,643,110 Shares of Enlight Renewable Energy Ltd. $ENLT

Key Points

• Clal Insurance Enterprises Holdings increased its stake in Enlight Renewable Energy by 19.9% in the fourth quarter, buying 1.64 million additional shares. The fund now owns 9.89 million shares worth about $448.6 million, making ENLT its seventh-largest holding.
• Several insiders sold shares over the past 90 days, including Director Shai Yeshayahu Weil and Chairman Gilad Yavetz. In total, insiders sold 313,597 shares worth about $29.8 million.
• Analyst views remain mixed: the stock has an overall Hold rating and an average price target of $63.17, though UBS recently raised its target to $123 and kept a Buy rating. ENLT was trading at $95.73, near its 52-week high of $108.65.

Clal Insurance Enterprises Holdings Ltd grew its position in Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Free Report) by 19.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,890,141 shares of the company's stock after purchasing an additional 1,643,110 shares during the quarter. Enlight Renewable Energy comprises approximately 2.9% of Clal Insurance Enterprises Holdings Ltd's investment portfolio, making the stock its 7th biggest position. Clal Insurance Enterprises Holdings Ltd's holdings in Enlight Renewable Energy were worth $448,589,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ENLT. BNP Paribas Financial Markets boosted its stake in shares of Enlight Renewable Energy by 256.1% in the second quarter. BNP Paribas Financial Markets now owns 1,225 shares of the company's stock valued at $28,000 after buying an additional 881 shares during the period. V Square Quantitative Management LLC bought a new stake in shares of Enlight Renewable Energy in the fourth quarter valued at approximately $56,000. Savant Capital LLC bought a new stake in shares of Enlight Renewable Energy in the fourth quarter valued at approximately $241,000. Bank of Montreal Can boosted its stake in shares of Enlight Renewable Energy by 16.7% in the fourth quarter. Bank of Montreal Can now owns 10,041 shares of the company's stock valued at $456,000 after buying an additional 1,440 shares during the period. Finally, Mariner LLC boosted its stake in shares of Enlight Renewable Energy by 4.1% in the third quarter. Mariner LLC now owns 10,070 shares of the company's stock valued at $314,000 after buying an additional 396 shares during the period. Institutional investors and hedge funds own 38.89% of the company's stock.

Insider Buying and Selling

In other news, Director Shai Yeshayahu Weil sold 73,436 shares of the stock in a transaction on Monday, May 25th. The stock was sold at an average price of $93.68, for a total value of $6,879,484.48. Following the completion of the transaction, the director directly owned 396,655 shares in the company, valued at approximately $37,158,640.40. This represents a 15.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Gilad Yavetz sold 100,000 shares of the stock in a transaction on Wednesday, May 13th. The shares were sold at an average price of $91.78, for a total value of $9,178,000.00. Following the completion of the transaction, the chairman owned 846,436 shares of the company's stock, valued at $77,685,896.08. The trade was a 10.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 313,597 shares of company stock worth $29,830,515 in the last ninety days.

Analyst Ratings Changes

ENLT has been the subject of several recent research reports. Weiss Ratings reiterated a "hold (c)" rating on shares of Enlight Renewable Energy in a research note on Friday, March 27th. UBS Group boosted their price target on Enlight Renewable Energy from $105.00 to $123.00 and gave the company a "buy" rating in a research note on Friday, May 29th. Mizuho set a $37.00 price target on Enlight Renewable Energy in a research note on Monday, February 23rd. Deutsche Bank Aktiengesellschaft set a $65.00 price target on Enlight Renewable Energy and gave the company a "hold" rating in a research note on Thursday, April 9th. Finally, JPMorgan Chase & Co. boosted their price target on Enlight Renewable Energy from $57.00 to $68.00 and gave the company an "underweight" rating in a research note on Wednesday, May 6th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Enlight Renewable Energy currently has an average rating of "Hold" and an average price target of $63.17.

Enlight Renewable Energy Stock Up 1.6%

NASDAQ ENLT opened at $95.73 on Friday. The business has a fifty day moving average price of $88.09 and a two-hundred day moving average price of $67.80. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.77 and a quick ratio of 0.77. Enlight Renewable Energy Ltd. has a fifty-two week low of $18.22 and a fifty-two week high of $108.65. The stock has a market capitalization of $11.35 billion, a PE ratio of 222.63, a PEG ratio of 34.13 and a beta of 1.56.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last released its earnings results on Tuesday, March 31st. The company reported $0.16 earnings per share for the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%.The firm had revenue of $156.49 million during the quarter. Equities analysts expect that Enlight Renewable Energy Ltd. will post 0.29 earnings per share for the current fiscal year.

Enlight Renewable Energy Company Profile

Enlight Renewable Energy Ltd. NASDAQ: ENLT is an independent power producer specializing in the development, financing, construction and operation of renewable energy assets. The company's portfolio encompasses utility-scale solar photovoltaic (PV) farms, onshore wind farms and energy storage facilities. By providing end-to-end project management—from site identification and feasibility studies through engineering procurement and construction (EPC) to long-term operations and maintenance—Enlight seeks to deliver reliable clean power under long-term power purchase agreements (PPAs).

Founded in 2008 and headquartered in Tel Aviv, Enlight has pursued an international growth strategy with operational and development projects in Israel and Western Europe.

Want to see what other hedge funds are holding ENLT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.