Infinity Natural Resources Inc. $INR Shares Purchased by Renaissance Technologies LLC

Key Points

• Renaissance Technologies increased its Infinity Natural Resources stake by 285.3% in the first quarter, acquiring 249,600 additional shares and bringing its holdings to 337,100 shares, worth approximately $5.9 million.
• Several other institutional investors also boosted their positions, while company directors made significant insider purchases totaling 111,400 shares over the last quarter. Insiders collectively own 40.9% of the company.
• INR shares opened at $12.74, near the lower end of their 12-month range, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus and an average price target of $24.

Renaissance Technologies LLC raised its holdings in Infinity Natural Resources Inc. (NYSE:INR - Free Report) by 285.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 337,100 shares of the company's stock after acquiring an additional 249,600 shares during the period. Renaissance Technologies LLC owned approximately 0.53% of Infinity Natural Resources worth $5,936,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Sei Investments Co. lifted its position in Infinity Natural Resources by 153.6% during the first quarter. Sei Investments Co. now owns 275,422 shares of the company's stock worth $4,850,000 after buying an additional 166,810 shares in the last quarter. Walleye Capital LLC raised its holdings in shares of Infinity Natural Resources by 74.0% during the 1st quarter. Walleye Capital LLC now owns 146,557 shares of the company's stock worth $2,581,000 after acquiring an additional 62,343 shares during the period. CI Investments Inc. raised its holdings in shares of Infinity Natural Resources by 3.3% during the 1st quarter. CI Investments Inc. now owns 275,132 shares of the company's stock worth $4,845,000 after acquiring an additional 8,673 shares during the period. Amova Asset Management Americas Inc. boosted its holdings in Infinity Natural Resources by 23.7% in the 1st quarter. Amova Asset Management Americas Inc. now owns 65,743 shares of the company's stock valued at $1,156,000 after purchasing an additional 12,602 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Infinity Natural Resources by 2.3% in the 1st quarter. Bank of New York Mellon Corp now owns 64,485 shares of the company's stock valued at $1,136,000 after buying an additional 1,429 shares during the period.

Infinity Natural Resources Trading Down 0.8%

Shares of Infinity Natural Resources stock opened at $12.74 on Thursday. The company has a debt-to-equity ratio of 2.98, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a fifty day moving average of $12.99. The firm has a market cap of $809.12 million, a PE ratio of 4.55 and a beta of -0.52. Infinity Natural Resources Inc. has a 12-month low of $11.13 and a 12-month high of $19.58.

Wall Street Analysts Forecast Growth

INR has been the subject of several analyst reports. Wall Street Zen cut Infinity Natural Resources from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 16th. Weiss Ratings reissued a "sell (d)" rating on shares of Infinity Natural Resources in a research report on Friday, July 31st. Citigroup reaffirmed a "buy" rating on shares of Infinity Natural Resources in a research note on Tuesday, July 14th. Royal Bank Of Canada reissued an "outperform" rating and issued a $27.00 price target on shares of Infinity Natural Resources in a research note on Tuesday, July 7th. Finally, Texas Capital upgraded shares of Infinity Natural Resources to a "strong-buy" rating in a report on Thursday, June 25th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Infinity Natural Resources currently has an average rating of "Moderate Buy" and an average price target of $24.00.

Insider Buying and Selling

In other news, Director Scott Gieselman bought 20,000 shares of the stock in a transaction dated Tuesday, May 26th. The shares were acquired at an average price of $14.10 per share, with a total value of $282,000.00. Following the completion of the acquisition, the director directly owned 70,900 shares in the company, valued at approximately $999,690. The trade was a 39.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William J. Quinn bought 44,000 shares of the company's stock in a transaction on Friday, June 5th. The shares were acquired at an average price of $13.19 per share, for a total transaction of $580,360.00. Following the transaction, the director directly owned 54,503 shares in the company, valued at $718,894.57. This trade represents a 418.93% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have purchased 111,400 shares of company stock valued at $1,483,841. Company insiders own 40.90% of the company's stock.

About Infinity Natural Resources

We are a growth oriented, free cash flow generating, independent energy company focused on the acquisition, development, and production of hydrocarbons in the Appalachian Basin. We are focused on creating shareholder value through the identification and disciplined development of low-risk, highly economic oil and natural gas assets while maintaining a strong and flexible balance sheet. Additionally, we have proven our ability to grow our acreage position through organic leasing efforts and accretive acquisitions.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source