Magnetar Financial LLC Acquires Shares of 69,493 Darling Ingredients Inc. (NYSE:DAR)

Magnetar Financial LLC bought a new position in shares of Darling Ingredients Inc. (NYSE:DAR) in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 69,493 shares of the company’s stock, valued at approximately $2,554,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in Darling Ingredients by 1,412.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 499 shares of the company’s stock worth $25,000 after acquiring an additional 466 shares during the period. Rise Advisors LLC purchased a new position in Darling Ingredients in the 1st quarter valued at about $25,000. Riverview Trust Co acquired a new stake in Darling Ingredients in the 1st quarter worth about $55,000. Parallel Advisors LLC increased its stake in Darling Ingredients by 24.7% during the 4th quarter. Parallel Advisors LLC now owns 1,966 shares of the company’s stock worth $98,000 after buying an additional 389 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its holdings in shares of Darling Ingredients by 56.9% during the fourth quarter. V Square Quantitative Management LLC now owns 1,997 shares of the company’s stock valued at $100,000 after acquiring an additional 724 shares during the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Darling Ingredients Price Performance

Shares of NYSE DAR opened at $36.60 on Tuesday. The firm has a market capitalization of $5.85 billion, a PE ratio of 10.96 and a beta of 1.24. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.91 and a current ratio of 1.57. Darling Ingredients Inc. has a fifty-two week low of $32.67 and a fifty-two week high of $55.20. The stock’s 50-day simple moving average is $38.03 and its 200-day simple moving average is $40.25.

Darling Ingredients (NYSE:DAR) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.10. Darling Ingredients had a return on equity of 8.38% and a net margin of 6.04%. The business had revenue of $1.46 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period in the prior year, the company earned $1.55 earnings per share. The company’s revenue was down 17.2% compared to the same quarter last year. As a group, equities research analysts forecast that Darling Ingredients Inc. will post 2.47 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on DAR. Citigroup raised Darling Ingredients from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a research note on Wednesday, June 12th. Scotiabank reduced their target price on shares of Darling Ingredients from $57.00 to $45.00 and set a “sector outperform” rating on the stock in a research note on Friday, July 12th. Jefferies Financial Group decreased their price target on Darling Ingredients from $53.00 to $47.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Finally, TD Cowen decreased their price objective on shares of Darling Ingredients from $45.00 to $43.00 and set a “hold” rating on the stock in a report on Friday, September 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Darling Ingredients has a consensus rating of “Moderate Buy” and an average price target of $60.10.

Insider Activity

In related news, EVP Robert W. Day purchased 2,532 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was purchased at an average cost of $39.37 per share, with a total value of $99,684.84. Following the completion of the acquisition, the executive vice president now directly owns 12,607 shares in the company, valued at $496,337.59. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 2.62% of the company’s stock.

Darling Ingredients Company Profile

Darling Ingredients Inc develops, produces, and sells natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally. The company operates through three segments: Feed Ingredients, Food Ingredients, and Fuel Ingredients. It offers ingredients and customized specialty solutions for customers in the pharmaceutical, food, pet food, feed, industrial, fuel, bioenergy, and fertilizer industries.