Bank of New York Mellon Corp boosted its position in shares of Renewable Energy Group, Inc. (NASDAQ:REGI) by 2.0% during the first quarter, Holdings Channel reports. The firm owned 232,858 shares of the oil and gas company’s stock after buying an additional 4,516 shares during the period. Bank of New York Mellon Corp’s holdings in Renewable Energy Group were worth $2,433,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Russell Investments Group Ltd. purchased a new position in Renewable Energy Group during the fourth quarter worth $646,000. State Board of Administration of Florida Retirement System raised its position in Renewable Energy Group by 52.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 44,765 shares of the oil and gas company’s stock worth $434,000 after buying an additional 15,306 shares during the period. State Street Corp raised its position in Renewable Energy Group by 6.0% in the fourth quarter. State Street Corp now owns 669,225 shares of the oil and gas company’s stock worth $6,498,000 after buying an additional 37,663 shares during the period. Renaissance Technologies LLC raised its position in Renewable Energy Group by 95.8% in the fourth quarter. Renaissance Technologies LLC now owns 651,027 shares of the oil and gas company’s stock worth $6,315,000 after buying an additional 318,466 shares during the period. Finally, Highbridge Capital Management LLC purchased a new position in Renewable Energy Group during the fourth quarter worth $839,000. Hedge funds and other institutional investors own 97.24% of the company’s stock.

Shares of Renewable Energy Group, Inc. (NASDAQ:REGI) opened at 12.30 on Tuesday. Renewable Energy Group, Inc. has a 12 month low of $7.91 and a 12 month high of $13.39. The firm’s 50 day moving average is $11.73 and its 200 day moving average is $10.20. The stock has a market capitalization of $474.71 million, a price-to-earnings ratio of 14.12 and a beta of 1.73.

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Several equities research analysts have commented on REGI shares. Zacks Investment Research upgraded shares of Renewable Energy Group from a “hold” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a research report on Tuesday, May 9th. Canaccord Genuity upgraded shares of Renewable Energy Group from a “hold” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $16.00 in a research report on Friday, May 5th. Roth Capital set a $17.00 target price on shares of Renewable Energy Group and gave the stock a “buy” rating in a research report on Wednesday, June 14th. Finally, ValuEngine upgraded shares of Renewable Energy Group from a “buy” rating to a “strong-buy” rating in a research report on Friday. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Renewable Energy Group presently has a consensus rating of “Buy” and an average target price of $14.00.

In other news, major shareholder Carlson Capital L. P sold 65,000 shares of the stock in a transaction on Monday, June 26th. The stock was sold at an average price of $12.83, for a total value of $833,950.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Chad Stone purchased 3,000 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was acquired at an average cost of $11.95 per share, with a total value of $35,850.00. Following the purchase, the chief financial officer now owns 88,323 shares of the company’s stock, valued at approximately $1,055,459.85. The disclosure for this purchase can be found here. Corporate insiders own 2.28% of the company’s stock.

About Renewable Energy Group

Renewable Energy Group, Inc is focused on providing cleaner, lower carbon intensity products and services. The Company is a producer of biomass-based diesel in North America. Its segments include Biomass-based diesel, Services, Renewable Chemicals and Corporate and other activities. It is involved in various activities related to biomass-based diesel production, from acquiring feedstock, managing construction and operating biomass-based diesel production facilities to marketing, selling and distributing biomass-based diesel and its co-products.

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Institutional Ownership by Quarter for Renewable Energy Group (NASDAQ:REGI)

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