The Manufacturers Life Insurance Company Acquires 4,176 Shares of Montauk Renewables, Inc. (NASDAQ:MNTK)

The Manufacturers Life Insurance Company raised its holdings in Montauk Renewables, Inc. (NASDAQ:MNTK) by 14.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 32,611 shares of the company’s stock after purchasing an additional 4,176 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Montauk Renewables were worth $186,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of MNTK. CWM LLC grew its position in shares of Montauk Renewables by 1,425.5% during the 2nd quarter. CWM LLC now owns 4,485 shares of the company’s stock worth $26,000 after buying an additional 4,191 shares during the period. Quadrature Capital Ltd bought a new position in Montauk Renewables in the fourth quarter valued at approximately $99,000. Principal Financial Group Inc. grew its holdings in Montauk Renewables by 8.9% during the 2nd quarter. Principal Financial Group Inc. now owns 25,902 shares of the company’s stock worth $148,000 after acquiring an additional 2,107 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Montauk Renewables by 33.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 43,329 shares of the company’s stock valued at $181,000 after acquiring an additional 10,850 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Montauk Renewables in the 2nd quarter valued at $217,000. Institutional investors and hedge funds own 16.35% of the company’s stock.

Montauk Renewables Stock Up 1.1 %

Shares of MNTK opened at $5.58 on Friday. The stock’s 50-day moving average price is $4.84 and its two-hundred day moving average price is $4.90. Montauk Renewables, Inc. has a 12 month low of $3.38 and a 12 month high of $10.95. The company has a market capitalization of $801.83 million, a PE ratio of 37.20 and a beta of -0.20. 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 (NASDAQ:MNTK) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.07). The company had revenue of $43.34 million during the quarter, compared to the consensus estimate of $50.63 million. Montauk Renewables had a net margin of 10.22% and a return on equity of 7.52%. During the same period last year, the firm posted $0.01 earnings per share. On average, analysts anticipate that Montauk Renewables, Inc. will post 0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Scotiabank reissued a “sector perform” rating and issued 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 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.