Cosan (NYSE:CSAN) Director Acquires $298,200.00 in Stock

Key Points

• Director Burkhard Otto Cordes bought 70,000 Cosan shares at an average price of $4.26, investing $298,200 and increasing his stake by 4.86% to 1.509 million shares.
• Cosan shares traded at $2.69, near the lower end of their 12-month range, while the company reported a quarterly EPS loss of $0.06 versus analysts’ expectation of a $0.01 profit.
• Analyst sentiment remains cautious, with a consensus “Reduce” rating and an average price target of $3.85; ratings include four Holds and two Sells.

Cosan S.A. Sponsored ADR (NYSE:CSAN - Get Free Report) Director Burkhard Otto Cordes purchased 70,000 shares of Cosan stock in a transaction dated Tuesday, May 26th. The stock was acquired at an average price of $4.26 per share, for a total transaction of $298,200.00. Following the completion of the transaction, the director owned 1,509,000 shares in the company, valued at approximately $6,428,340. The trade was a 4.86% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Cosan Stock Performance

Shares of NYSE:CSAN traded down $0.04 during trading on Tuesday, reaching $2.69. 3,989,083 shares of the company's stock traded hands, compared to its average volume of 2,157,418. The stock has a market capitalization of $2.67 billion, a P/E ratio of -1.25 and a beta of 0.71. Cosan S.A. Sponsored ADR has a 12 month low of $2.38 and a 12 month high of $6.01. The company has a 50 day moving average of $2.91 and a 200-day moving average of $3.43. The company has a debt-to-equity ratio of 2.12, a current ratio of 1.87 and a quick ratio of 1.76.

Cosan (NYSE:CSAN - Get Free Report) last issued its earnings results on Saturday, August 15th. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.07). The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $996.01 million. Cosan had a negative return on equity of 12.58% and a negative net margin of 21.83%. On average, equities analysts expect that Cosan S.A. Sponsored ADR will post -0.27 EPS for the current year.

Hedge Funds Weigh In On Cosan

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SmartHarvest Portfolios LLC acquired a new position in shares of Cosan during the first quarter valued at approximately $46,000. Royal Bank of Canada lifted its position in Cosan by 3,266.6% in the first quarter. Royal Bank of Canada now owns 12,389 shares of the company's stock worth $51,000 after purchasing an additional 12,021 shares during the period. Blue Trust Inc. lifted its position in Cosan by 12,141.9% in the first quarter. Blue Trust Inc. now owns 12,854 shares of the company's stock worth $53,000 after purchasing an additional 12,749 shares during the period. Clear Harbor Asset Management LLC bought a new position in Cosan during the 4th quarter valued at $53,000. Finally, Verus Capital Partners LLC increased its position in shares of Cosan by 20.0% during the 4th quarter. Verus Capital Partners LLC now owns 18,000 shares of the company's stock valued at $71,000 after purchasing an additional 3,000 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CSAN shares. Weiss Ratings reissued a "sell (e+)" rating on shares of Cosan in a report on Friday, September 4th. HSBC downgraded shares of Cosan from a "hold" rating to a "reduce" rating and cut their price objective for the company from $5.00 to $3.20 in a research report on Tuesday, May 26th. Zacks Research raised shares of Cosan to a "hold" rating in a research note on Thursday, June 18th. Wall Street Zen upgraded shares of Cosan from a "hold" rating to a "buy" rating in a research note on Saturday, September 5th. Finally, Citigroup raised Cosan to a "hold" rating in a report on Monday, June 29th. Four research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average target price of $3.85.

About Cosan

Cosan SA NYSE: CSAN is a Brazil-based energy and infrastructure company with operations and investments across fuel distribution, sugar and ethanol, natural gas, logistics, lubricants and agricultural land management. The company operates primarily through subsidiaries and affiliated businesses, including stakes in businesses that produce renewable fuels, distribute energy and transport commodities.

Through Raízen, its joint venture with Shell, Cosan is involved in the production and marketing of sugar and ethanol, the generation of electricity from sugarcane biomass and the distribution of fuels through service stations and commercial channels.

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