Kovitz Investment Group Partners LLC Sells 50,000 Shares of Oatly Group AB (NASDAQ:OTLY)

Kovitz Investment Group Partners LLC cut its stake in shares of Oatly Group AB (NASDAQ:OTLY - Free Report) by 50.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 50,002 shares of the company's stock after selling 50,000 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in Oatly Group were worth $33,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp raised its holdings in shares of Oatly Group by 60.6% in the fourth quarter. Van ECK Associates Corp now owns 56,689 shares of the company's stock valued at $38,000 after buying an additional 21,387 shares during the last quarter. Rhumbline Advisers increased its position in Oatly Group by 76.1% in the 4th quarter. Rhumbline Advisers now owns 63,477 shares of the company's stock valued at $42,000 after acquiring an additional 27,428 shares in the last quarter. Green Alpha Advisors LLC raised its stake in shares of Oatly Group by 5.9% in the fourth quarter. Green Alpha Advisors LLC now owns 686,776 shares of the company's stock worth $455,000 after acquiring an additional 38,363 shares during the last quarter. Performa Ltd US LLC lifted its position in shares of Oatly Group by 36.8% during the fourth quarter. Performa Ltd US LLC now owns 145,000 shares of the company's stock worth $96,000 after purchasing an additional 39,000 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Oatly Group by 463.2% during the fourth quarter. Geode Capital Management LLC now owns 94,353 shares of the company's stock valued at $63,000 after purchasing an additional 77,600 shares during the last quarter. Institutional investors and hedge funds own 68.15% of the company's stock.

Oatly Group Stock Down 4.4 %

NASDAQ:OTLY opened at $10.74 on Friday. The company has a quick ratio of 0.44, a current ratio of 0.56 and a debt-to-equity ratio of 1.39. Oatly Group AB has a 12-month low of $6.00 and a 12-month high of $26.80. The stock's fifty day simple moving average is $9.32 and its 200-day simple moving average is $11.91. The firm has a market capitalization of $321.43 million, a P/E ratio of -1.58 and a beta of 1.89.

Oatly Group (NASDAQ:OTLY - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.96) by $0.45. The firm had revenue of $197.53 million for the quarter, compared to analysts' expectations of $199.97 million. Oatly Group had a negative return on equity of 70.33% and a negative net margin of 24.52%. Equities research analysts expect that Oatly Group AB will post -3.2 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on OTLY shares. Barclays upped their price objective on Oatly Group from $1.00 to $10.00 and gave the stock an "overweight" rating in a report on Tuesday, February 25th. Piper Sandler decreased their price target on Oatly Group from $16.00 to $12.00 and set an "overweight" rating on the stock in a report on Thursday. Finally, Mizuho set a $24.00 price objective on Oatly Group in a report on Monday, April 28th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, Oatly Group has an average rating of "Moderate Buy" and an average target price of $16.75.

About Oatly Group

Oatly Group AB, an oatmilk company, provides a range of plant-based dairy products made from oats in Europe, the Middle East, Africa, the Americas, and Asia. It offers Barista edition oatmilk, oatgurts, frozen desserts, ice-creams, and yogurts; cooking products, including cooking cream, in regular and organic, Crème Fraiche, whipping cream, vanilla custard, and spreads in a variety of flavors; and ready-to-go drinks.

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