Point72 Asset Management L.P. Sells 239,599 Shares of Montauk Renewables, Inc. (NASDAQ:MNTK)

Point72 Asset Management L.P. reduced its stake in Montauk Renewables, Inc. (NASDAQ:MNTK) by 48.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 256,824 shares of the company’s stock after selling 239,599 shares during the period. Point72 Asset Management L.P.’s holdings in Montauk Renewables were worth $1,464,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. CWM LLC grew its stake in Montauk Renewables by 1,425.5% in the 2nd quarter. CWM LLC now owns 4,485 shares of the company’s stock valued at $26,000 after buying an additional 4,191 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Montauk Renewables in the fourth quarter valued at approximately $99,000. Principal Financial Group Inc. grew its position in shares of Montauk Renewables by 8.9% in the second quarter. Principal Financial Group Inc. now owns 25,902 shares of the company’s stock valued at $148,000 after purchasing an additional 2,107 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Montauk Renewables by 33.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 43,329 shares of the company’s stock worth $181,000 after purchasing an additional 10,850 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Montauk Renewables by 14.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,611 shares of the company’s stock worth $186,000 after purchasing an additional 4,176 shares during the last quarter. 16.35% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Scotiabank reiterated a “sector perform” rating and set a $6.00 price objective (down previously from $8.00) on shares of Montauk Renewables in a research report on Tuesday, September 3rd.

Montauk Renewables Stock Up 2.3 %

Shares of MNTK opened at $5.36 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 0.19. Montauk Renewables, Inc. has a 12 month low of $3.38 and a 12 month high of $10.95. The firm’s 50 day moving average is $4.81 and its 200-day moving average is $4.77. The stock has a market capitalization of $770.22 million, a PE ratio of 35.73 and a beta of -0.20.

Montauk Renewables (NASDAQ:MNTK) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.07). The company had revenue of $43.34 million for the quarter, compared to the consensus estimate of $50.63 million. Montauk Renewables had a return on equity of 7.52% and a net margin of 10.22%. During the same quarter last year, the business earned $0.01 EPS. Equities research analysts forecast that Montauk Renewables, Inc. will post 0.2 EPS for the current year.

Montauk Renewables Profile

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.