Rhumbline Advisers Sells 109,303 Shares of Green Plains, Inc. $GPRE

Key Points

• Rhumbline Advisers significantly decreased its holdings in Green Plains, Inc. by 52.5%, selling 109,303 shares and now owning approximately 98,913 shares valued at $480,000.
• Despite recent interest from other investors like Federated Hermes and Nexpoint Asset Management, Green Plains reported disappointing quarterly results with a loss of $0.41 EPS, missing expectations by $0.13.
• Equities analysts have mixed ratings on Green Plains, with a consensus price target of $8.83, indicating potential for further price adjustments based on market performance.

Rhumbline Advisers lowered its holdings in shares of Green Plains, Inc. (NASDAQ:GPRE - Free Report) by 52.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 98,913 shares of the specialty chemicals company's stock after selling 109,303 shares during the period. Rhumbline Advisers owned about 0.15% of Green Plains worth $480,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of GPRE. Federated Hermes Inc. bought a new position in shares of Green Plains during the first quarter valued at $8,860,000. Lumbard & Kellner LLC raised its stake in shares of Green Plains by 159.4% during the first quarter. Lumbard & Kellner LLC now owns 740,323 shares of the specialty chemicals company's stock valued at $3,591,000 after acquiring an additional 454,882 shares during the last quarter. Broad Bay Capital Management LP raised its stake 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 valued at $12,446,000 after acquiring an additional 355,685 shares during the last quarter. Nexpoint Asset Management L.P. raised its stake in shares of Green Plains by 805.5% during the first quarter. Nexpoint Asset Management L.P. now owns 382,563 shares of the specialty chemicals company's stock valued at $1,855,000 after acquiring an additional 340,313 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its stake in shares of Green Plains by 2,026.7% during the first quarter. Cubist Systematic Strategies LLC now owns 295,606 shares of the specialty chemicals company's stock valued at $1,434,000 after acquiring an additional 281,706 shares during the last quarter.

Green Plains Price Performance

Shares of Green Plains stock opened at $9.26 on Wednesday. Green Plains, Inc. has a 52-week low of $3.14 and a 52-week high of $14.04. The stock has a market capitalization of $607.13 million, a price-to-earnings ratio of -3.86 and a beta of 1.21. The company has a fifty day moving average of $9.07 and a 200-day moving average of $6.32. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.94 and a current ratio of 1.47.

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

Wall Street Analysts Forecast Growth

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

Green Plains Profile

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.

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