Bleakley Financial Group LLC Makes New $73,000 Investment in Montauk Renewables, Inc. (NASDAQ:MNTK)

Bleakley Financial Group LLC bought a new stake in Montauk Renewables, Inc. (NASDAQ:MNTK) during the third quarter, Holdings Channel reports. The institutional investor bought 13,943 shares of the company’s stock, valued at approximately $73,000.

A number of other large investors also recently made changes to their positions in the business. Principal Financial Group Inc. increased its holdings in shares of Montauk Renewables by 8.9% in the 2nd 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 period. Rhumbline Advisers increased its holdings in shares of Montauk Renewables by 2.6% in the 2nd quarter. Rhumbline Advisers now owns 92,138 shares of the company’s stock valued at $525,000 after purchasing an additional 2,366 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Montauk Renewables by 14.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 32,611 shares of the company’s stock valued at $186,000 after purchasing an additional 4,176 shares during the period. CWM LLC increased its holdings in shares of 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 purchasing an additional 4,191 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Montauk Renewables by 7.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 60,993 shares of the company’s stock valued at $348,000 after purchasing an additional 4,477 shares during the period. Institutional investors and hedge funds own 16.35% of the company’s stock.

Analysts Set New Price Targets

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

Montauk Renewables Trading Up 3.7 %

NASDAQ:MNTK opened at $5.66 on Friday. The stock’s 50 day moving average price is $4.91 and its 200 day moving average price is $4.92. Montauk Renewables, Inc. has a 52 week low of $3.38 and a 52 week high of $10.95. The company has a market capitalization of $813.33 million, a P/E ratio of 36.40 and a beta of -0.20. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.66 and a current ratio of 1.66.

Montauk Renewables (NASDAQ:MNTK) last released 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). Montauk Renewables had a return on equity of 7.52% and a net margin of 10.22%. The firm had revenue of $43.34 million during the quarter, compared to analyst estimates of $50.63 million. During the same quarter in the prior year, the company posted $0.01 EPS. On average, research analysts forecast that Montauk Renewables, Inc. will post 0.2 EPS for the current fiscal 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.