Comerica Bank Reduces Holdings in Green Plains Inc. (NASDAQ:GPRE)

Comerica Bank decreased its holdings in Green Plains Inc. (NASDAQ:GPREGet Rating) by 3.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 44,388 shares of the specialty chemicals company’s stock after selling 1,360 shares during the quarter. Comerica Bank’s holdings in Green Plains were worth $1,210,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd raised its stake in Green Plains by 8,023.1% during the 1st quarter. Covestor Ltd now owns 1,056 shares of the specialty chemicals company’s stock worth $33,000 after acquiring an additional 1,043 shares during the period. Advisors Asset Management Inc. bought a new stake in Green Plains during the 1st quarter worth approximately $46,000. Point72 Hong Kong Ltd raised its stake in Green Plains by 39.2% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,915 shares of the specialty chemicals company’s stock worth $59,000 after acquiring an additional 539 shares during the period. Nisa Investment Advisors LLC raised its stake in Green Plains by 106.8% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,420 shares of the specialty chemicals company’s stock worth $66,000 after acquiring an additional 1,250 shares during the period. Finally, Quent Capital LLC bought a new stake in Green Plains during the 2nd quarter worth approximately $82,000.

Green Plains Trading Down 0.1 %

Shares of GPRE opened at $31.04 on Tuesday. The company’s fifty day moving average is $31.64 and its 200 day moving average is $32.30. Green Plains Inc. has a fifty-two week low of $26.09 and a fifty-two week high of $41.25. The stock has a market capitalization of $1.84 billion, a PE ratio of -16.51, a P/E/G ratio of 0.59 and a beta of 1.71. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.61 and a current ratio of 2.22.

Green Plains (NASDAQ:GPREGet Rating) last announced its quarterly earnings results on Thursday, November 3rd. The specialty chemicals company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($0.18) by ($1.09). Green Plains had a negative return on equity of 10.48% and a negative net margin of 2.76%. The business had revenue of $954.98 million during the quarter, compared to the consensus estimate of $961.00 million. Sell-side analysts expect that Green Plains Inc. will post -2.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on GPRE. Truist Financial decreased their target price on shares of Green Plains from $55.00 to $48.00 and set a “buy” rating on the stock in a research note on Friday, October 7th. StockNews.com began coverage on shares of Green Plains in a research report on Wednesday, October 12th. They set a “sell” rating on the stock. Bank of America reduced their price objective on shares of Green Plains from $43.00 to $35.00 and set a “neutral” rating on the stock in a research report on Monday, October 24th. BMO Capital Markets cut shares of Green Plains from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $45.00 to $31.00 in a research report on Monday, October 24th. Finally, UBS Group began coverage on shares of Green Plains in a research report on Tuesday, December 13th. They set a “buy” rating and a $45.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $39.20.

Insider Buying and Selling

In other Green Plains news, CFO James E. Stark purchased 787 shares of Green Plains stock in a transaction that occurred on Tuesday, December 6th. The shares were bought at an average price of $31.85 per share, for a total transaction of $25,065.95. Following the completion of the transaction, the chief financial officer now owns 11,184 shares of the company’s stock, valued at approximately $356,210.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.70% of the stock is currently owned by company insiders.

Green Plains Company Profile

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Green Plains Inc produces, markets, and distributes ethanol in the United States and internationally. It operates through three segments: Ethanol Production, Agribusiness and Energy Services, and Partnership. The Ethanol Production segment produces and sells ethanol, including industrial-grade alcohol, distiller grains, and ultra-high protein and corn oil.

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Institutional Ownership by Quarter for Green Plains (NASDAQ:GPRE)

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