Kayne Anderson Capital Advisors LP Has $7.04 Million Stake in ReNew Energy Global Plc (NASDAQ:RNW)

Kayne Anderson Capital Advisors LP cut its holdings in ReNew Energy Global Plc (NASDAQ:RNW - Free Report) by 44.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 918,834 shares of the company's stock after selling 735,650 shares during the period. Kayne Anderson Capital Advisors LP owned about 0.25% of ReNew Energy Global worth $7,038,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC acquired a new position in shares of ReNew Energy Global in the 3rd quarter valued at $216,000. Syon Capital LLC acquired a new stake in shares of ReNew Energy Global during the third quarter worth about $93,000. Picton Mahoney Asset Management lifted its holdings in shares of ReNew Energy Global by 2.2% in the 3rd quarter. Picton Mahoney Asset Management now owns 827,045 shares of the company's stock valued at $4,490,000 after purchasing an additional 17,503 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of ReNew Energy Global in the 3rd quarter valued at about $90,000. Finally, Pale Fire Capital SE acquired a new stake in shares of ReNew Energy Global in the 3rd quarter valued at about $54,000. 43.56% of the stock is owned by hedge funds and other institutional investors.

ReNew Energy Global Stock Performance

RNW traded down $0.01 on Thursday, hitting $6.01. 261,140 shares of the company traded hands, compared to its average volume of 609,618. The company has a 50 day moving average of $5.99 and a 200-day moving average of $6.38. ReNew Energy Global Plc has a 12-month low of $4.78 and a 12-month high of $7.79. The stock has a market capitalization of $2.24 billion, a PE ratio of 60.10 and a beta of 0.91. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 4.57.

ReNew Energy Global (NASDAQ:RNW - Get Free Report) last posted its quarterly earnings data on Tuesday, February 20th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.01). The firm had revenue of $232.00 million during the quarter, compared to analysts' expectations of $195.90 million. ReNew Energy Global had a net margin of 3.61% and a return on equity of 2.96%. During the same quarter last year, the business earned ($0.15) earnings per share. Sell-side analysts anticipate that ReNew Energy Global Plc will post 0.04 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Roth Mkm reduced their price objective on ReNew Energy Global from $9.00 to $8.00 and set a "buy" rating for the company in a research note on Thursday, April 11th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $8.35.

ReNew Energy Global Company Profile

ReNew Energy Global Plc generates power through non-conventional and renewable energy sources in India. The company operates through two segments: Wind Power and Solar Power. It develops, builds, owns, and operates utility scale wind and solar energy, hydro energy, and utility-scale firm power projects, as well as distributed solar energy projects that generate energy for commercial and industrial customers.