Connor Clark & Lunn Investment Management Ltd. Sells 41,695 Shares of Argan, Inc. (NYSE:AGX)

Connor Clark & Lunn Investment Management Ltd. decreased its stake in Argan, Inc. (NYSE:AGX - Free Report) by 36.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 72,529 shares of the construction company's stock after selling 41,695 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.53% of Argan worth $9,939,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AGX. Amundi raised its holdings in shares of Argan by 8.6% in the 4th quarter. Amundi now owns 859 shares of the construction company's stock worth $118,000 after purchasing an additional 68 shares during the period. Prime Capital Investment Advisors LLC increased its holdings in shares of Argan by 1.8% in the third quarter. Prime Capital Investment Advisors LLC now owns 4,796 shares of the construction company's stock worth $486,000 after buying an additional 86 shares during the period. Savant Capital LLC boosted its holdings in Argan by 1.3% during the 4th quarter. Savant Capital LLC now owns 10,552 shares of the construction company's stock valued at $1,446,000 after acquiring an additional 133 shares during the period. Spire Wealth Management purchased a new position in Argan in the 4th quarter worth approximately $26,000. Finally, Farther Finance Advisors LLC purchased a new stake in shares of Argan during the fourth quarter valued at approximately $32,000. 79.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Argan

In other Argan news, Director Peter W. Getsinger sold 7,385 shares of the company's stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $165.29, for a total transaction of $1,220,666.65. Following the transaction, the director now owns 11,792 shares in the company, valued at approximately $1,949,099.68. This represents a 38.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard H. Deily sold 2,000 shares of Argan stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total value of $300,000.00. Following the sale, the chief financial officer now owns 9,367 shares in the company, valued at $1,405,050. This represents a 17.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,185 shares of company stock valued at $1,644,859. 11.85% of the stock is currently owned by company insiders.

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Analyst Upgrades and Downgrades

AGX has been the subject of a number of recent analyst reports. CJS Securities reiterated a "market perform" rating and set a $150.00 price target on shares of Argan in a report on Friday, December 6th. Lake Street Capital downgraded shares of Argan from a "buy" rating to a "hold" rating and upped their price objective for the company from $85.00 to $150.00 in a research note on Tuesday, December 3rd.

Argan Stock Performance

Shares of Argan stock traded up $4.60 during midday trading on Wednesday, reaching $122.09. 254,635 shares of the company's stock traded hands, compared to its average volume of 257,567. The stock has a 50 day moving average of $142.66 and a 200-day moving average of $132.71. Argan, Inc. has a 12 month low of $48.85 and a 12 month high of $191.46. The company has a market cap of $1.66 billion, a PE ratio of 25.54 and a beta of 0.58.

Argan Profile

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, and technical consulting services to the power generation market. The company operates through Power Services, Industrial Services, and Telecom Services segments. The Power Services segment offers engineering, procurement, and construction, as well as designing, building, and commissioning of large-scale energy projects to the owners of alternative energy facilities, such as biomass plants, wind farms, and solar fields; and design, construction, project management, start-up, and operation services for projects with approximately 18 gigawatts of power-generating capacity.