Pacific Ethanol Inc (PEIX) : Candlewood Investment Group Lp scooped up 3,173,466 additional shares in Pacific Ethanol Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 10,129,908 shares of Pacific Ethanol Inc which is valued at $67,059,991.Pacific Ethanol Inc makes up approximately 79.44% of Candlewood Investment Group Lp’s portfolio.
Other Hedge Funds, Including , Panagora Asset Management Inc boosted its stake in PEIX in the latest quarter, The investment management firm added 384,244 additional shares and now holds a total of 890,979 shares of Pacific Ethanol Inc which is valued at $5,898,281. Pacific Ethanol Inc makes up approx 0.03% of Panagora Asset Management Inc’s portfolio.Credit Suisse Ag reduced its stake in PEIX by selling 423,295 shares or 17.94% in the most recent quarter. The Hedge Fund company now holds 1,935,578 shares of PEIX which is valued at $12,813,526. Pacific Ethanol Inc makes up approx 0.02% of Credit Suisse Ag’s portfolio.Hightower Advisors reduced its stake in PEIX by selling 351,418 shares or 14.48% in the most recent quarter. The Hedge Fund company now holds 2,075,903 shares of PEIX which is valued at $13,742,478. Pacific Ethanol Inc makes up approx 0.17% of Hightower Advisors’s portfolio.Blackrock Advisors reduced its stake in PEIX by selling 2,510 shares or 17.03% in the most recent quarter. The Hedge Fund company now holds 12,226 shares of PEIX which is valued at $80,936. Fuller Thaler Asset Management added PEIX to its portfolio by purchasing 331,150 company shares during the most recent quarter which is valued at $2,178,967. Pacific Ethanol Inc makes up approx 0.04% of Fuller Thaler Asset Management’s portfolio.
Pacific Ethanol Inc opened for trading at $6.43 and hit $6.55 on the upside on Thursday, eventually ending the session at $6.48, with a gain of 0.31% or 0.02 points. The heightened volatility saw the trading volume jump to 6,59,545 shares. Company has a market cap of $280 M.
On the company’s financial health, Pacific Ethanol Inc reported $0.11 EPS for the quarter, beating the analyst consensus estimate by $ 0.18 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $-0.07. The company had revenue of $422.90 million for the quarter, compared to analysts expectations of $383.28 million. The company’s revenue was up 85.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS.
Many Wall Street Analysts have commented on Pacific Ethanol Inc. Rodman & Renshaw Initiated Pacific Ethanol Inc on May 24, 2016 to “Buy”, Price Target of the shares are set at $11.
Pacific Ethanol Inc. is a producer and marketer of low-carbon renewable fuels in the Western United States. The Company also sells ethanol co-products including wet distillers grain (WDG) a nutritious animal feed and corn oil. Serving integrated oil companies and gasoline marketers who blend ethanol into gasoline the Company provides transportation storage and delivery of ethanol through third-party service providers. The Company holds a 96% ownership interest in PE Op Co. the owner of four ethanol production facilities. The Company sells ethanol produced by the four production facilities and unrelated third parties to gasoline refining and distribution companies sells its WDG to dairy operators and animal feed distributors and sells its corn oil to poultry and biodiesel customers. The Company markets all the ethanol it sells through its subsidiary Kinergy Marketing LLC.