Nexpoint Asset Management L.P. Acquires 340,313 Shares of Green Plains, Inc. $GPRE

Key Points

• Nexpoint Asset Management L.P. increased its stake in Green Plains, Inc. by 805.5% during the first quarter, acquiring 382,563 shares valued at approximately $1.86 million.
• Multiple institutional investors have also significantly increased their positions in Green Plains, with Federated Hermes Inc. investing around $8.86 million in a new position during the same period.
• Green Plains reported a loss of $0.41 per share for the last quarter, missing analysts' expectations, and experienced a 10.7% year-over-year decline in revenue.

Nexpoint Asset Management L.P. grew its stake in shares of Green Plains, Inc. (NASDAQ:GPRE - Free Report) by 805.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 382,563 shares of the specialty chemicals company's stock after acquiring an additional 340,313 shares during the period. Nexpoint Asset Management L.P. owned about 0.58% of Green Plains worth $1,855,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Broad Bay Capital Management LP raised its position in shares of Green Plains by 16.1% during the first quarter. Broad Bay Capital Management LP now owns 2,566,086 shares of the specialty chemicals company's stock worth $12,446,000 after purchasing an additional 355,685 shares during the period. Federated Hermes Inc. acquired a new stake in shares of Green Plains during the first quarter valued at approximately $8,860,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Green Plains by 13.5% during 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 acquiring an additional 189,478 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Green Plains by 424.8% in the 4th quarter. Ameriprise Financial Inc. now owns 804,175 shares of the specialty chemicals company's stock valued at $7,624,000 after acquiring an additional 650,937 shares in the last quarter. Finally, Lumbard & Kellner LLC boosted its stake in Green Plains by 159.4% in the 1st quarter. Lumbard & Kellner LLC now owns 740,323 shares of the specialty chemicals company's stock worth $3,591,000 after purchasing an additional 454,882 shares during the period.

Green Plains Stock Performance

Shares of GPRE traded down $0.23 during trading hours on Wednesday, reaching $9.80. 1,015,430 shares of the company traded hands, compared to its average volume of 1,889,696. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.94 and a current ratio of 1.47. The stock's fifty day moving average is $8.58 and its 200 day moving average is $6.04. Green Plains, Inc. has a 1-year low of $3.14 and a 1-year high of $14.04. The stock has a market cap of $642.26 million, a P/E ratio of -4.08 and a beta of 1.22.

Green Plains (NASDAQ:GPRE - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The specialty chemicals company reported ($0.41) earnings per share for the quarter, missing the consensus estimate of ($0.28) by ($0.13). The company had revenue of $552.83 million during the quarter, compared to the consensus estimate of $578.18 million. Green Plains had a negative net margin of 6.34% and a negative return on equity of 13.65%. The company's revenue for the quarter was down 10.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.38) earnings per share. Equities research analysts anticipate that Green Plains, Inc. will post -0.5 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GPRE. Bank of America reissued an "underperform" rating and set a $7.00 price target (up from $4.50) on shares of Green Plains in a research report on Thursday, August 14th. Zacks Research upgraded shares of Green Plains to a "hold" rating in a research note on Monday, August 11th. Finally, Oppenheimer upgraded shares of Green Plains from a "market perform" rating to an "outperform" rating and set a $14.00 price target on the stock in a report on Thursday, August 28th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $8.83.

About Green Plains

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.