Harspring Capital Management LLC Buys Shares of 163,500 Darling Ingredients Inc. $DAR

Key Points

• Harspring Capital Management initiated a position of 163,500 Darling Ingredients shares valued at approximately $8.93 million, making DAR its largest holding and representing about 16.6% of the fund’s portfolio.
• Darling Ingredients reported quarterly EPS of $2.41, beating estimates of $1.40, while revenue rose 16.4% year over year to $1.72 billion. Institutional investors own approximately 94.44% of the company.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $69.00; several firms recently raised their targets to between $75 and $80.

Harspring Capital Management LLC purchased a new position in Darling Ingredients Inc. (NYSE:DAR - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 163,500 shares of the company's stock, valued at approximately $8,930,000. Darling Ingredients comprises about 16.6% of Harspring Capital Management LLC's holdings, making the stock its largest holding. Harspring Capital Management LLC owned approximately 0.10% of Darling Ingredients as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in DAR. Danske Bank A S acquired a new position in shares of Darling Ingredients during the 3rd quarter valued at about $25,000. Allworth Financial LP boosted its position in Darling Ingredients by 227.2% during the fourth quarter. Allworth Financial LP now owns 733 shares of the company's stock worth $26,000 after purchasing an additional 509 shares during the period. SJS Investment Consulting Inc. boosted its position in Darling Ingredients by 69.9% during the first quarter. SJS Investment Consulting Inc. now owns 423 shares of the company's stock worth $26,000 after purchasing an additional 174 shares during the period. Litman Gregory Wealth Management LLC acquired a new position in Darling Ingredients during the fourth quarter valued at approximately $29,000. Finally, Leonteq Securities AG acquired a new position in Darling Ingredients during the fourth quarter valued at approximately $35,000. Institutional investors own 94.44% of the company's stock.

Darling Ingredients Stock Down 5.1%

Shares of DAR stock opened at $62.37 on Tuesday. Darling Ingredients Inc. has a 12 month low of $29.15 and a 12 month high of $69.98. The company has a quick ratio of 1.03, a current ratio of 1.56 and a debt-to-equity ratio of 0.73. The firm has a market cap of $9.84 billion, a PE ratio of 16.81 and a beta of 1.02. The stock has a 50 day moving average of $59.99 and a 200-day moving average of $58.47.

Darling Ingredients (NYSE:DAR - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The company reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $1.01. Darling Ingredients had a net margin of 9.13% and a return on equity of 12.98%. The business had revenue of $1.72 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same quarter last year, the company posted $0.08 earnings per share. Darling Ingredients's quarterly revenue was up 16.4% on a year-over-year basis. On average, equities analysts predict that Darling Ingredients Inc. will post 6.98 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DAR. Weiss Ratings upgraded shares of Darling Ingredients from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, August 11th. Wall Street Zen upgraded shares of Darling Ingredients from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 15th. JPMorgan Chase & Co. lifted their target price on shares of Darling Ingredients from $78.00 to $79.00 and gave the stock an "overweight" rating in a report on Tuesday, May 12th. TD Cowen boosted their target price on shares of Darling Ingredients from $70.00 to $80.00 and gave the stock a "buy" rating in a research report on Monday, July 27th. Finally, Jefferies Financial Group upped their price target on shares of Darling Ingredients from $73.00 to $75.00 and gave the company a "buy" rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $69.00.

Insider Activity at Darling Ingredients

In other news, EVP Patrick Mcnutt sold 8,000 shares of the business's stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $67.09, for a total transaction of $536,720.00. Following the transaction, the executive vice president owned 35,777 shares in the company, valued at approximately $2,400,278.93. The trade was a 18.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Charles L. Adair acquired 1,000 shares of the business's stock in a transaction dated Friday, July 31st. The shares were bought at an average cost of $60.97 per share, with a total value of $60,970.00. Following the transaction, the director directly owned 51,690 shares of the company's stock, valued at $3,151,539.30. The trade was a 1.97% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders sold 10,591 shares of company stock valued at $704,303 in the last quarter. Company insiders own 1.90% of the company's stock.

Darling Ingredients Profile

Darling Ingredients Inc NYSE: DAR is a global leader in converting edible and inedible bio-nutrient streams into sustainable food, feed ingredients, renewable fuels and specialty products. Founded in 1882 and headquartered in Irving, Texas, the company builds on more than a century of experience in animal rendering and by-product recycling. Over time, Darling has expanded its capabilities beyond traditional rendering to include advanced processing technologies that support a circular economy and reduce waste from food and agricultural industries.

The company's core operations revolve around four primary segments: Feed Ingredients & Services, Food & Nutrition, Fuel Ingredients & Services, and Specialty Ingredients.

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