Green Plains Sees Unusually High Options Volume (GPRE)
Green Plains Inc (NASDAQ:GPRE) was the target of unusually large options trading on Tuesday. Stock investors purchased 1,627 put options on the company. This is an increase of 2,192% compared to the average daily volume of 71 put options.
In other Green Plains news, CFO John W. Neppl purchased 30,000 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was purchased at an average cost of $16.78 per share, with a total value of $503,400.00. Following the acquisition, the chief financial officer now directly owns 38,474 shares of the company’s stock, valued at approximately $645,593.72. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Wayne Hoovestol purchased 102,653 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were acquired at an average cost of $16.37 per share, with a total value of $1,680,429.61. Following the completion of the acquisition, the director now directly owns 218,277 shares in the company, valued at $3,573,194.49. The disclosure for this purchase can be found here. Over the last three months, insiders bought 148,136 shares of company stock valued at $2,439,918. 6.40% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. State of Alaska Department of Revenue boosted its position in Green Plains by 85.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 7,289 shares of the specialty chemicals company’s stock valued at $149,000 after buying an additional 3,369 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in Green Plains by 1.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 7,612 shares of the specialty chemicals company’s stock valued at $156,000 after buying an additional 104 shares during the last quarter. UBS Asset Management Americas Inc. boosted its position in Green Plains by 28.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 10,599 shares of the specialty chemicals company’s stock valued at $218,000 after buying an additional 2,360 shares during the last quarter. Bayesian Capital Management LP bought a new position in Green Plains in the 2nd quarter valued at $255,000. Finally, Marshall Wace North America L.P. bought a new position in Green Plains in the 2nd quarter valued at $305,000.
Green Plains (NASDAQ:GPRE) last announced its quarterly earnings data on Wednesday, November 1st. The specialty chemicals company reported ($0.18) EPS for the quarter, missing the Zacks’ consensus estimate of $0.29 by ($0.47). The firm had revenue of $901.20 million during the quarter, compared to the consensus estimate of $933.36 million. Green Plains had a net margin of 0.92% and a negative return on equity of 0.88%. The firm’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.20 earnings per share. equities research analysts anticipate that Green Plains will post -0.66 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, November 27th will be given a $0.12 dividend. The ex-dividend date is Friday, November 24th. This represents a $0.48 dividend on an annualized basis and a yield of 2.89%. Green Plains’s payout ratio is 67.61%.
A number of research firms recently weighed in on GPRE. ValuEngine raised Green Plains from a “sell” rating to a “hold” rating in a report on Wednesday, September 13th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $19.00 price target on shares of Green Plains in a report on Tuesday, September 5th. Zacks Investment Research cut Green Plains from a “hold” rating to a “strong sell” rating in a report on Thursday, October 26th. BidaskClub cut Green Plains from a “hold” rating to a “sell” rating in a report on Friday, August 18th. Finally, Craig Hallum began coverage on Green Plains in a report on Thursday, September 14th. They set a “buy” rating and a $29.00 price target for the company. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $25.33.
About Green Plains
Green Plains Inc is an ethanol producer. The Company owns and operates assets throughout the ethanol value chain, including upstream, with grain handling and storage through its ethanol production facilities, and downstream, with marketing and distribution services. It operates through four segments: Ethanol Production, Agribusiness and Energy Services, Food and Food Ingredients, and Partnership.
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