D. E. Shaw & Co. Inc. Sells 61,495 Shares of Montauk Renewables, Inc. (NASDAQ:MNTK)

D. E. Shaw & Co. Inc. reduced its position in Montauk Renewables, Inc. (NASDAQ:MNTK) by 22.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 216,951 shares of the company’s stock after selling 61,495 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.15% of Montauk Renewables worth $863,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of MNTK. American Century Companies Inc. raised its holdings in Montauk Renewables by 100.1% during the fourth quarter. American Century Companies Inc. now owns 992,089 shares of the company’s stock worth $3,949,000 after buying an additional 496,231 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Montauk Renewables by 237.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 173,483 shares of the company’s stock valued at $904,000 after purchasing an additional 122,072 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Montauk Renewables by 74.2% during the 4th quarter. Russell Investments Group Ltd. now owns 171,919 shares of the company’s stock valued at $699,000 after acquiring an additional 73,245 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Montauk Renewables by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 851,345 shares of the company’s stock worth $3,389,000 after acquiring an additional 46,558 shares during the last quarter. Finally, Marshall Wace LLP purchased a new position in Montauk Renewables during the 4th quarter worth $174,000. Institutional investors and hedge funds own 16.35% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MNTK shares. B. Riley lowered their target price on shares of Montauk Renewables from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Friday, March 14th. Scotiabank decreased their price target on Montauk Renewables from $6.00 to $4.00 and set a “sector perform” rating for the company in a research report on Friday, April 11th. Finally, UBS Group cut their price objective on Montauk Renewables from $6.25 to $3.00 and set a “neutral” rating on the stock in a research report on Friday, March 14th.

Montauk Renewables Trading Down 1.5%

NASDAQ:MNTK opened at $1.92 on Friday. Montauk Renewables, Inc. has a 12 month low of $1.75 and a 12 month high of $6.22. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.17. The firm’s 50 day moving average is $2.12 and its 200 day moving average is $3.40. The stock has a market capitalization of $273.47 million, a PE ratio of 12.00 and a beta of 0.04.

Montauk Renewables (NASDAQ:MNTK) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.00 EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.01). The firm had revenue of $42.60 million for the quarter, compared to analysts’ expectations of $42.40 million. Montauk Renewables had a net margin of 11.80% and a return on equity of 8.88%. Sell-side analysts expect that Montauk Renewables, Inc. will post 0.19 earnings per share for the current year.

Montauk Renewables declared that its Board of Directors has approved a stock repurchase program on Tuesday, April 15th that authorizes the company to repurchase $5.00 million in shares. This repurchase authorization authorizes the company to buy up to 1.8% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

About Montauk Renewables

Montauk Renewables, Inc, a renewable energy company, engages in recovery and processing of biogas from landfills and other non-fossil fuel sources. It operates in two segments, Renewable Natural Gas and Renewable Electricity Generation. The company develops, owns, and operates renewable natural gas (RNG) projects that captures methane and prevents it from being released into the atmosphere by converting it into either RNG or electrical power for the electrical grid.