CenterBook Partners LP Reduces Position in Green Plains, Inc. (NASDAQ:GPRE)

Key Points

• CenterBook Partners LP has reduced its stake in Green Plains, Inc. by 42.7%, now holding 660,840 shares, which are valued at approximately $3.2 million.
• Green Plains stock is currently trading at $7.34, having experienced a 5.2% decline, with a one-year low of $3.14 and a high of $15.70.
• Analysts have issued mixed ratings on Green Plains, with one downgrade to "sell" and a consensus price target of $10.42, reflecting generally cautious sentiment towards the stock.

CenterBook Partners LP decreased its position in shares of Green Plains, Inc. (NASDAQ:GPRE - Free Report) by 42.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 660,840 shares of the specialty chemicals company's stock after selling 493,156 shares during the period. CenterBook Partners LP owned about 0.97% of Green Plains worth $3,205,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Federated Hermes Inc. purchased a new position in Green Plains in the 1st quarter valued at approximately $8,860,000. Charles Schwab Investment Management Inc. boosted its holdings in Green Plains by 13.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,590,954 shares of the specialty chemicals company's stock valued at $7,716,000 after purchasing an additional 189,478 shares during the period. Invesco Ltd. boosted its holdings in Green Plains by 92.0% in the fourth quarter. Invesco Ltd. now owns 1,020,129 shares of the specialty chemicals company's stock valued at $9,671,000 after purchasing an additional 488,870 shares during the period. Ameriprise Financial Inc. boosted its holdings in Green Plains by 424.8% in the fourth quarter. Ameriprise Financial Inc. now owns 804,175 shares of the specialty chemicals company's stock valued at $7,624,000 after purchasing an additional 650,937 shares during the period. Finally, Lumbard & Kellner LLC boosted its holdings in Green Plains by 159.4% in the first quarter. Lumbard & Kellner LLC now owns 740,323 shares of the specialty chemicals company's stock valued at $3,591,000 after purchasing an additional 454,882 shares during the period.

Green Plains Stock Up 1.2%

Shares of NASDAQ GPRE traded up $0.09 during midday trading on Friday, hitting $7.40. 1,371,775 shares of the company's stock were exchanged, compared to its average volume of 1,311,154. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.38 and a quick ratio of 0.81. Green Plains, Inc. has a twelve month low of $3.14 and a twelve month high of $14.67. The company has a market cap of $483.96 million, a PE ratio of -4.38 and a beta of 1.18. The firm's fifty day simple moving average is $6.62 and its 200-day simple moving average is $5.77.

Green Plains (NASDAQ:GPRE - Get Free Report) last issued its earnings results on Thursday, May 8th. The specialty chemicals company reported ($0.88) earnings per share for the quarter, missing the consensus estimate of ($0.51) by ($0.37). Green Plains had a negative return on equity of 12.76% and a negative net margin of 4.22%. The business had revenue of $601.52 million for the quarter, compared to analyst estimates of $605.62 million. During the same period last year, the business posted ($0.81) EPS. Green Plains's revenue was up .7% on a year-over-year basis. Research analysts predict that Green Plains, Inc. will post -0.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on GPRE shares. BMO Capital Markets reduced their price target on Green Plains from $8.00 to $7.00 and set a "market perform" rating on the stock in a research report on Monday, May 12th. Bank of America lowered Green Plains from a "buy" rating to a "neutral" rating and reduced their price target for the company from $10.00 to $4.50 in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Green Plains has an average rating of "Hold" and a consensus price target of $7.30.

Green Plains Company Profile

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.