Amalgamated Bank Sells 1,318 Shares of Green Plains Inc. (NASDAQ:GPRE)

Amalgamated Bank reduced its holdings in shares of Green Plains Inc. (NASDAQ:GPRE) by 6.5% in the second quarter, Holdings Channel.com reports. The fund owned 18,998 shares of the specialty chemicals company’s stock after selling 1,318 shares during the quarter. Amalgamated Bank’s holdings in Green Plains were worth $301,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Rafferty Asset Management LLC increased its stake in Green Plains by 73.4% in the fourth quarter. Rafferty Asset Management LLC now owns 167,954 shares of the specialty chemicals company’s stock worth $4,236,000 after purchasing an additional 71,099 shares during the period. Future Fund LLC increased its stake in Green Plains by 5.0% in the 4th quarter. Future Fund LLC now owns 11,456 shares of the specialty chemicals company’s stock worth $289,000 after buying an additional 550 shares during the period. Masters Capital Management LLC lifted its holdings in Green Plains by 25.0% during the 4th quarter. Masters Capital Management LLC now owns 500,000 shares of the specialty chemicals company’s stock valued at $12,610,000 after buying an additional 100,000 shares in the last quarter. Broad Bay Capital Management LP boosted its position in Green Plains by 17.6% in the 4th quarter. Broad Bay Capital Management LP now owns 2,352,000 shares of the specialty chemicals company’s stock valued at $59,317,000 after buying an additional 352,000 shares during the period. Finally, Grizzlyrock Capital LLC purchased a new stake in Green Plains in the 4th quarter valued at about $10,444,000.

Green Plains Price Performance

Shares of GPRE stock opened at $13.54 on Tuesday. The stock’s 50-day moving average is $14.32 and its 200 day moving average is $17.32. Green Plains Inc. has a 1-year low of $11.63 and a 1-year high of $31.92. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.68 and a quick ratio of 1.11. The company has a market cap of $874.94 million, a P/E ratio of -11.01 and a beta of 1.53.

Green Plains (NASDAQ:GPRE) last released its quarterly earnings results on Tuesday, August 6th. The specialty chemicals company reported ($0.38) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.35). The firm had revenue of $618.83 million during the quarter, compared to the consensus estimate of $646.70 million. Green Plains had a negative net margin of 1.64% and a negative return on equity of 4.94%. The firm’s quarterly revenue was down 27.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.89) earnings per share. Research analysts predict that Green Plains Inc. will post -0.95 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on GPRE. BMO Capital Markets decreased their price target on shares of Green Plains from $22.00 to $17.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th. UBS Group lowered their target price on Green Plains from $26.00 to $23.50 and set a “buy” rating for the company in a report on Monday, August 19th. Oppenheimer downgraded Green Plains from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 7th. Craig Hallum decreased their price objective on Green Plains from $34.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, August 7th. Finally, Truist Financial reiterated a “buy” rating and set a $25.00 target price (down from $30.00) on shares of Green Plains in a report on Monday, August 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.28.

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.