Connor Clark & Lunn Investment Management Ltd. Purchases New Shares in Green Plains, Inc. $GPRE

Key Points

• Connor Clark & Lunn Investment Management acquired 106,422 shares of Green Plains valued at approximately $1.64 million, representing about 0.15% of the company. Several other investment firms also initiated new positions.
• Analyst sentiment is mixed: Green Plains has an average “Hold” rating and a consensus price target of $15.43, with ratings ranging from “Strong Sell” to “Strong Buy.”
• Green Plains reported quarterly EPS of $0.83, beating the $0.54 consensus estimate, although revenue of $446.2 million fell short of the $542.4 million forecast. Shares opened at $14.66, below their 50-day and 200-day moving averages.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Green Plains, Inc. (NASDAQ:GPRE - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 106,422 shares of the specialty chemicals company's stock, valued at approximately $1,637,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.15% of Green Plains as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. WINTON GROUP Ltd acquired a new stake in Green Plains during the 2nd quarter worth $61,000. Quarry LP acquired a new position in Green Plains during the 3rd quarter worth approximately $67,000. Aquatic Capital Management LLC acquired a new position in Green Plains during the third quarter worth $95,000. Marex Group plc acquired a new position in shares of Green Plains during the 4th quarter worth about $98,000. Finally, Virtus Advisers LLC bought a new position in Green Plains in the fourth quarter valued at approximately $98,000.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Zacks Research lowered shares of Green Plains from a "hold" rating to a "strong sell" rating in a research note on Thursday, August 6th. UBS Group reissued a "neutral" rating on shares of Green Plains in a research report on Tuesday. Oppenheimer reissued an "outperform" rating and set a $20.00 price target on shares of Green Plains in a research report on Friday, May 8th. Wall Street Zen raised shares of Green Plains from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 8th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of Green Plains in a research report on Friday, July 17th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $15.43.

Green Plains Price Performance

Shares of GPRE opened at $14.66 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.99 and a debt-to-equity ratio of 0.45. The stock has a market cap of $1.03 billion, a PE ratio of 9.22 and a beta of 1.17. Green Plains, Inc. has a 12-month low of $8.65 and a 12-month high of $19.65. The business has a 50-day simple moving average of $16.03 and a two-hundred day simple moving average of $15.74.

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

Green Plains Profile

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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