Mangrove Partners IM LLC Takes Position in REX American Resources Corporation $REX

Key Points

• Mangrove Partners IM LLC
• Institutional ownership of REX is high at 88.12%, and several other funds (e.g., GAMMA Investing, Parallel Advisors, Ameritas, US Bancorp DE) also increased or initiated small stakes during the quarter.
• Analyst sentiment has recently improved with upgrades from firms like Wall Street Zen and Weiss Ratings to Buy, though the average analyst target of $25.00 sits well below the stock's recent price (~$40.43) and 52-week high ($40.67).

Mangrove Partners IM LLC bought a new position in shares of REX American Resources Corporation (NYSE:REX - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 526,552 shares of the energy company's stock, valued at approximately $16,123,000. REX American Resources makes up about 1.3% of Mangrove Partners IM LLC's portfolio, making the stock its 23rd largest position. Mangrove Partners IM LLC owned approximately 1.59% of REX American Resources at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in REX American Resources by 116.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,078 shares of the energy company's stock valued at $33,000 after purchasing an additional 580 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in REX American Resources during the 2nd quarter worth approximately $33,000. Parallel Advisors LLC raised its stake in shares of REX American Resources by 97.6% in the third quarter. Parallel Advisors LLC now owns 1,142 shares of the energy company's stock worth $35,000 after purchasing an additional 564 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of REX American Resources by 59.2% in the third quarter. Ameritas Investment Partners Inc. now owns 2,476 shares of the energy company's stock worth $76,000 after purchasing an additional 921 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of REX American Resources by 100.0% in the third quarter. US Bancorp DE now owns 2,680 shares of the energy company's stock valued at $82,000 after purchasing an additional 1,340 shares in the last quarter. Institutional investors and hedge funds own 88.12% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on REX. Wall Street Zen raised REX American Resources from a "hold" rating to a "buy" rating in a research report on Saturday, December 6th. Weiss Ratings raised REX American Resources from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 2nd. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $25.00.

REX American Resources Stock Performance

REX American Resources stock opened at $40.43 on Friday. REX American Resources Corporation has a fifty-two week low of $16.73 and a fifty-two week high of $40.67. The firm's 50-day simple moving average is $34.72 and its 200 day simple moving average is $33.01. The stock has a market cap of $1.33 billion, a PE ratio of 27.04 and a beta of 0.73.

About REX American Resources

REX American Resources Corp. is a diversified agribusiness and renewable energy company headquartered in Kansas City, Missouri. Founded in 2005 through a reorganization of existing agricultural interests, the company focuses on two primary business segments: fuel ethanol production and specialty ingredient solutions. REX American Resources leverages its integrated operations to supply clean-burning fuel, animal feed co-products and sweetener ingredients to a broad customer base in North America and beyond.

In its alcohol fuels segment, the company operates an anhydrous ethanol production facility in Colwich, Kansas.

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