Harspring Capital Management LLC Cuts Stock Holdings in Darling Ingredients Inc. $DAR

Harspring Capital Management LLC lessened its holdings in shares of Darling Ingredients Inc. (NYSE:DAR) by 53.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 425,000 shares of the company’s stock after selling 490,000 shares during the period. Darling Ingredients comprises approximately 13.8% of Harspring Capital Management LLC’s holdings, making the stock its largest holding. Harspring Capital Management LLC’s holdings in Darling Ingredients were worth $26,286,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Lido Advisors LLC purchased a new position in shares of Darling Ingredients during the first quarter valued at approximately $1,245,000. Globeflex Capital L P purchased a new stake in Darling Ingredients in the first quarter worth $896,000. PNC Financial Services Group Inc. lifted its stake in Darling Ingredients by 12.7% in the first quarter. PNC Financial Services Group Inc. now owns 15,838 shares of the company’s stock worth $980,000 after acquiring an additional 1,782 shares during the period. Convergence Investment Partners LLC bought a new stake in Darling Ingredients in the first quarter valued at $2,641,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Darling Ingredients by 0.6% in the first quarter. Dimensional Fund Advisors LP now owns 8,066,971 shares of the company’s stock valued at $498,927,000 after acquiring an additional 47,565 shares in the last quarter. Hedge funds and other institutional investors own 94.44% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on DAR. Scotiabank upped their price objective on shares of Darling Ingredients from $61.00 to $70.00 and gave the stock a “sector outperform” rating in a report on Wednesday, April 22nd. Barclays boosted their price target on shares of Darling Ingredients from $58.00 to $62.00 and gave the company an “equal weight” rating in a research report on Thursday, July 2nd. Robert W. Baird increased their price target on shares of Darling Ingredients from $64.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 7th. UBS Group raised their price objective on shares of Darling Ingredients from $58.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, April 2nd. Finally, Stephens lifted their price objective on Darling Ingredients from $65.00 to $70.00 and gave the company an “overweight” rating in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.82.

Insiders Place Their Bets

In other Darling Ingredients news, CAO Joseph Manzi sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $63.89, for a total transaction of $191,670.00. Following the completion of the transaction, the chief accounting officer owned 19,969 shares of the company’s stock, valued at approximately $1,275,819.41. This trade represents a 13.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.90% of the company’s stock.

Darling Ingredients Stock Performance

Shares of Darling Ingredients stock opened at $64.77 on Thursday. Darling Ingredients Inc. has a 12 month low of $29.15 and a 12 month high of $66.02. The firm has a market capitalization of $10.29 billion, a P/E ratio of 46.93 and a beta of 1.04. The company has a current ratio of 1.58, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. The business has a fifty day simple moving average of $58.45 and a two-hundred day simple moving average of $55.00.

Darling Ingredients (NYSE:DAR) last released its earnings results on Thursday, April 30th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.27. Darling Ingredients had a net margin of 3.54% and a return on equity of 5.65%. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period in the prior year, the firm earned ($0.16) EPS. The company’s revenue was up 12.3% compared to the same quarter last year. On average, equities analysts forecast that Darling Ingredients Inc. will post 4.67 earnings per share for the current fiscal year.

Darling Ingredients Company Profile

Darling Ingredients Inc (NYSE: DAR) is a global leader in converting edible and inedible bio-nutrient streams into sustainable food, feed ingredients, renewable fuels and specialty products. Founded in 1882 and headquartered in Irving, Texas, the company builds on more than a century of experience in animal rendering and by-product recycling. Over time, Darling has expanded its capabilities beyond traditional rendering to include advanced processing technologies that support a circular economy and reduce waste from food and agricultural industries.

The company’s core operations revolve around four primary segments: Feed Ingredients & Services, Food & Nutrition, Fuel Ingredients & Services, and Specialty Ingredients.