Cosan (NYSE:CSAN) Director Buys 89,000 Shares

Key Points

• Director Burkhard Otto Cordes purchased 89,000 Cosan shares at an average price of $4.47, investing $397,830 and increasing his direct ownership by 6.59% to 1.439 million shares.
• Cosan shares recently traded at $2.69, near the lower end of their 52-week range of $2.38 to $6.01. The company reported a quarterly loss of $0.06 per share, missing analyst expectations, and analysts project a full-year loss of $0.27 per share.
• Analyst sentiment remains cautious, with four Hold and two Sell ratings producing a consensus “Reduce” rating and a $3.85 price target, despite several institutional investors increasing their stakes.

Cosan S.A. Sponsored ADR (NYSE:CSAN - Get Free Report) Director Burkhard Otto Cordes acquired 89,000 shares of the firm's stock in a transaction dated Monday, May 18th. The shares were purchased at an average cost of $4.47 per share, for a total transaction of $397,830.00. Following the completion of the acquisition, the director directly owned 1,439,000 shares in the company, valued at approximately $6,432,330. This represents a 6.59% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Cosan Price Performance

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

Cosan (NYSE:CSAN - Get Free Report) last released its quarterly 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). Cosan had a negative net margin of 21.83% and a negative return on equity of 12.58%. The business had revenue of $2.08 billion for the quarter, compared to analysts' expectations of $996.01 million. On average, equities research analysts anticipate that Cosan S.A. Sponsored ADR will post -0.27 earnings per share for the current year.

Hedge Funds Weigh In On Cosan

Large investors have recently made changes to their positions in the company. Monaco Asset Management SAM lifted its stake in Cosan by 200.5% in the fourth quarter. Monaco Asset Management SAM now owns 3,004,813 shares of the company's stock worth $11,869,000 after purchasing an additional 2,004,813 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Cosan by 3,266.6% during the first quarter. Royal Bank of Canada now owns 12,389 shares of the company's stock valued at $51,000 after buying an additional 12,021 shares during the last quarter. Barometer Capital Management Inc. grew its stake in shares of Cosan by 1,839.0% during the first quarter. Barometer Capital Management Inc. now owns 171,600 shares of the company's stock valued at $707,000 after buying an additional 162,750 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of 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 buying an additional 12,749 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of Cosan by 4.1% in the first quarter. SG Americas Securities LLC now owns 196,491 shares of the company's stock worth $810,000 after buying an additional 7,739 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CSAN shares. Citigroup raised shares of Cosan to a "hold" rating in a report on Monday, June 29th. Wall Street Zen raised Cosan from a "hold" rating to a "buy" rating in a research note on Saturday, September 5th. Weiss Ratings restated a "sell (e+)" rating on shares of Cosan in a research report on Friday, September 4th. Zacks Research raised Cosan to a "hold" rating in a research note on Thursday, June 18th. Finally, Jefferies Financial Group cut Cosan to a "hold" rating in a report on Tuesday, May 26th. Four investment analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus price target 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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