Lumbard & Kellner LLC Acquires New Holdings in Green Plains Inc. (NASDAQ:GPRE)

Lumbard & Kellner LLC bought a new position in shares of Green Plains Inc. (NASDAQ:GPRE) during the second quarter, Holdings Channel reports. The fund bought 295,400 shares of the specialty chemicals company’s stock, valued at approximately $4,685,000. Green Plains comprises about 2.2% of Lumbard & Kellner LLC’s investment portfolio, making the stock its 18th biggest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GPRE. Highland Peak Capital LLC raised its position in shares of Green Plains by 48.1% during the second quarter. Highland Peak Capital LLC now owns 319,465 shares of the specialty chemicals company’s stock worth $5,067,000 after acquiring an additional 103,725 shares during the last quarter. William Blair Investment Management LLC raised its holdings in Green Plains by 3.6% during the 2nd quarter. William Blair Investment Management LLC now owns 1,870,698 shares of the specialty chemicals company’s stock worth $29,669,000 after purchasing an additional 65,637 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Green Plains by 287.6% in the 2nd quarter. American Century Companies Inc. now owns 332,586 shares of the specialty chemicals company’s stock worth $5,275,000 after purchasing an additional 246,773 shares during the period. Kailix Advisors LLC boosted its stake in shares of Green Plains by 39.8% in the 2nd quarter. Kailix Advisors LLC now owns 1,343,269 shares of the specialty chemicals company’s stock valued at $22,406,000 after purchasing an additional 382,517 shares during the last quarter. Finally, Equitable Trust Co. bought a new stake in shares of Green Plains in the 2nd quarter valued at $191,000.

Analysts Set New Price Targets

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

Green Plains Trading Up 3.8 %

GPRE opened at $13.37 on Wednesday. Green Plains Inc. has a fifty-two week low of $11.63 and a fifty-two week high of $33.75. The firm has a market capitalization of $863.96 million, a PE ratio of -10.87 and a beta of 1.53. 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’s 50-day moving average is $14.82 and its 200 day moving average is $17.74.

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

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.