Lecap Asset Management Ltd. Has $891,000 Stock Holdings in Darling Ingredients Inc. $DAR

Key Points

• Lecap Asset Management Ltd. increased its holdings in Darling Ingredients by 72.9% in Q2, owning a total of 23,489 shares valued at $891,000.
• CEO Randall C. Stuewe sold 35,000 shares of Darling Ingredients at an average price of $30.92, reducing his ownership by 4.29%.
• Darling Ingredients posted Q2 earnings of $0.09 EPS, missing estimates and revealing a revenue of $1.48 billion, slightly below expectations of $1.49 billion.

Lecap Asset Management Ltd. lifted its holdings in shares of Darling Ingredients Inc. (NYSE:DAR - Free Report) by 72.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,489 shares of the company's stock after acquiring an additional 9,904 shares during the quarter. Lecap Asset Management Ltd.'s holdings in Darling Ingredients were worth $891,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Peregrine Capital Management LLC raised its stake in Darling Ingredients by 16.5% in the first quarter. Peregrine Capital Management LLC now owns 218,806 shares of the company's stock valued at $6,835,000 after purchasing an additional 30,952 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. increased its position in Darling Ingredients by 19.3% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 30,490 shares of the company's stock valued at $953,000 after acquiring an additional 4,933 shares during the period. Oppenheimer Asset Management Inc. increased its holdings in Darling Ingredients by 14.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 154,315 shares of the company's stock valued at $4,821,000 after purchasing an additional 19,113 shares during the period. GAMMA Investing LLC raised its position in shares of Darling Ingredients by 6,187.6% during the first quarter. GAMMA Investing LLC now owns 64,448 shares of the company's stock worth $2,063,000 after acquiring an additional 63,423 shares during the last quarter. Finally, Cornerstone Investment Partners LLC acquired a new position in shares of Darling Ingredients in the 1st quarter worth approximately $255,000. 94.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Darling Ingredients

In other news, CEO Randall C. Stuewe sold 35,000 shares of Darling Ingredients stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $30.92, for a total value of $1,082,200.00. Following the completion of the transaction, the chief executive officer owned 781,437 shares of the company's stock, valued at $24,162,032.04. The trade was a 4.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.62% of the stock is currently owned by corporate insiders.

Darling Ingredients Price Performance

Shares of Darling Ingredients stock opened at $31.43 on Friday. Darling Ingredients Inc. has a 12-month low of $26.00 and a 12-month high of $43.49. The firm has a market cap of $4.97 billion, a PE ratio of 47.62 and a beta of 1.22. The company has a quick ratio of 0.89, a current ratio of 1.50 and a debt-to-equity ratio of 0.84. The company's fifty day simple moving average is $32.11 and its two-hundred day simple moving average is $32.95.

Darling Ingredients (NYSE:DAR - Get Free Report) last posted its earnings results on Thursday, July 24th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.12 by ($0.03). The company had revenue of $1.48 billion during the quarter, compared to analysts' expectations of $1.49 billion. Darling Ingredients had a return on equity of 2.35% and a net margin of 1.85%.The company's revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.49 earnings per share. As a group, equities analysts expect that Darling Ingredients Inc. will post 2.81 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on DAR shares. Tudor Pickering raised shares of Darling Ingredients from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 11th. Robert W. Baird reaffirmed a "neutral" rating and issued a $36.00 price objective (down from $40.00) on shares of Darling Ingredients in a research report on Friday, July 25th. Piper Sandler cut their price target on shares of Darling Ingredients from $54.00 to $50.00 and set an "overweight" rating on the stock in a report on Monday, July 28th. JPMorgan Chase & Co. started coverage on Darling Ingredients in a research report on Wednesday, August 20th. They issued an "overweight" rating and a $43.00 target price for the company. Finally, Baird R W cut shares of Darling Ingredients from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $43.57.

Darling Ingredients Profile

Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.

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