Enlight Renewable Energy Ltd. $ENLT Shares Bought by Clal Insurance Enterprises Holdings Ltd

Key Points

• Clal Insurance Enterprises Holdings increased its stake in Enlight Renewable Energy by 18.2% in the first quarter, buying nearly 1.8 million additional shares. The fund now owns about 9.86% of the company, worth roughly $774.1 million.
• Several insiders sold shares recently, including Director Yitzhak Betzalel and SVP Meron Carr, and insiders have sold 313,597 shares over the past 90 days. The director’s sale nearly eliminated his stake in the company.
• Analysts remain mixed on ENLT, with the consensus rating at Hold and an average price target of $75.00. Shares were trading around $89.51, near the stock’s 52-week high of $108.65.

Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Enlight Renewable Energy Ltd. (NASDAQ:ENLT - Free Report) by 18.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 11,688,077 shares of the company's stock after acquiring an additional 1,797,936 shares during the period. Enlight Renewable Energy accounts for 4.7% of Clal Insurance Enterprises Holdings Ltd's portfolio, making the stock its 5th biggest holding. Clal Insurance Enterprises Holdings Ltd owned about 9.86% of Enlight Renewable Energy worth $774,113,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Advisors Asset Management Inc. boosted its stake in Enlight Renewable Energy by 0.9% during the 4th quarter. Advisors Asset Management Inc. now owns 26,865 shares of the company's stock valued at $1,221,000 after purchasing an additional 251 shares during the period. Mariner LLC boosted its position in shares of Enlight Renewable Energy by 4.1% during the third quarter. Mariner LLC now owns 10,070 shares of the company's stock worth $314,000 after buying an additional 396 shares during the period. Public Employees Retirement System of Ohio grew its holdings in Enlight Renewable Energy by 1.0% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 45,693 shares of the company's stock worth $1,409,000 after buying an additional 472 shares in the last quarter. Jane Street Group LLC increased its position in Enlight Renewable Energy by 6.0% in the 2nd quarter. Jane Street Group LLC now owns 11,366 shares of the company's stock valued at $258,000 after acquiring an additional 641 shares during the period. Finally, Geode Capital Management LLC raised its stake in Enlight Renewable Energy by 0.7% during the 2nd quarter. Geode Capital Management LLC now owns 108,157 shares of the company's stock valued at $2,458,000 after acquiring an additional 773 shares in the last quarter. 38.89% of the stock is currently owned by institutional investors.

Insider Activity at Enlight Renewable Energy

In related news, Director Yitzhak Betzalel sold 2,062 shares of the stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $103.64, for a total value of $213,705.68. Following the completion of the transaction, the director owned 2 shares in the company, valued at $207.28. This trade represents a 99.90% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Meron Carr sold 3,329 shares of Enlight Renewable Energy stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $103.44, for a total value of $344,351.76. Following the completion of the transaction, the senior vice president directly owned 42,465 shares in the company, valued at $4,392,579.60. This represents a 7.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 313,597 shares of company stock valued at $29,830,515 over the last ninety days.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. increased their price target on Enlight Renewable Energy from $57.00 to $68.00 and gave the stock an "underweight" rating in a research note on Wednesday, May 6th. Barclays increased their target price on shares of Enlight Renewable Energy from $83.00 to $89.00 and gave the company an "overweight" rating in a research report on Monday. Weiss Ratings restated a "hold (c)" rating on shares of Enlight Renewable Energy in a research report on Friday, March 27th. Wall Street Zen upgraded shares of Enlight Renewable Energy from a "sell" rating to a "hold" rating in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft set a $65.00 target price on Enlight Renewable Energy and gave the stock a "hold" rating in a report on Thursday, April 9th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $75.00.

Enlight Renewable Energy Trading Up 1.0%

Enlight Renewable Energy stock opened at $89.51 on Wednesday. The firm has a market cap of $10.61 billion, a price-to-earnings ratio of 208.17, a price-to-earnings-growth ratio of 24.05 and a beta of 1.66. Enlight Renewable Energy Ltd. has a 1 year low of $22.95 and a 1 year high of $108.65. The firm's 50 day moving average price is $90.70 and its two-hundred day moving average price is $76.69. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.77 and a current ratio of 0.77.

Enlight Renewable Energy (NASDAQ:ENLT - Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $0.16 EPS for the quarter. The company had revenue of $156.49 million during the quarter. Enlight Renewable Energy had a return on equity of 2.48% and a net margin of 9.47%. On average, research analysts predict that Enlight Renewable Energy Ltd. will post 0.28 EPS for the current fiscal year.

About Enlight Renewable Energy

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.

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