Jane Street Group LLC Sells 233,756 Shares of Neogen Co. (NASDAQ:NEOG)

Jane Street Group LLC trimmed its stake in Neogen Co. (NASDAQ:NEOG - Free Report) by 65.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 122,601 shares of the company's stock after selling 233,756 shares during the quarter. Jane Street Group LLC owned 0.06% of Neogen worth $2,061,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in Neogen by 142.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,982 shares of the company's stock worth $33,000 after acquiring an additional 1,165 shares during the last quarter. Innealta Capital LLC bought a new position in shares of Neogen during the second quarter valued at $46,000. Headlands Technologies LLC lifted its holdings in shares of Neogen by 264.1% during the second quarter. Headlands Technologies LLC now owns 3,397 shares of the company's stock valued at $53,000 after purchasing an additional 2,464 shares in the last quarter. Marco Investment Management LLC bought a new stake in Neogen in the 3rd quarter worth about $169,000. Finally, Raymond James Trust N.A. bought a new stake in Neogen in the 3rd quarter worth about $182,000. 96.73% of the stock is owned by hedge funds and other institutional investors.

Neogen Stock Performance

NASDAQ:NEOG traded up $0.10 on Tuesday, hitting $12.22. The stock had a trading volume of 472,498 shares, compared to its average volume of 1,918,002. The business's 50-day simple moving average is $14.00 and its two-hundred day simple moving average is $15.47. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of -111.09 and a beta of 1.21. Neogen Co. has a 52-week low of $11.46 and a 52-week high of $20.81. The company has a quick ratio of 2.79, a current ratio of 4.41 and a debt-to-equity ratio of 0.28.

Neogen (NASDAQ:NEOG - Get Free Report) last announced its earnings results on Thursday, October 10th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). Neogen had a negative net margin of 2.58% and a positive return on equity of 2.80%. The business had revenue of $217.00 million for the quarter, compared to the consensus estimate of $215.05 million. During the same quarter last year, the firm posted $0.11 earnings per share. The business's quarterly revenue was down 5.2% compared to the same quarter last year. As a group, research analysts predict that Neogen Co. will post 0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NEOG shares. StockNews.com raised shares of Neogen to a "sell" rating in a report on Monday, September 30th. Guggenheim began coverage on shares of Neogen in a research report on Thursday, December 19th. They issued a "buy" rating and a $15.00 target price for the company.

Insider Buying and Selling

In other news, CEO John Edward Adent bought 14,500 shares of Neogen stock in a transaction that occurred on Friday, October 11th. The stock was bought at an average cost of $13.80 per share, with a total value of $200,100.00. Following the acquisition, the chief executive officer now owns 216,477 shares of the company's stock, valued at $2,987,382.60. The trade was a 7.18 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 1.13% of the stock is owned by insiders.

Neogen Company Profile

Neogen Corporation, together with its subsidiaries, engages in the development, manufacture, and marketing of various products and services dedicated to food and animal safety worldwide. It operates through two segments, Food Safety and Animal Safety. The Food Safety segment offers diagnostic test kits and related products to detect dangerous and unintended substances in food and animal feed, including foodborne pathogens, spoilage organisms, natural toxins, food allergens, genetic modifications, ruminant by-products, meat speciation, drug residues, pesticide residues, and general sanitation concerns; and AccuPoint Advanced rapid sanitation test to detect the presence of adenosine triphosphate, a chemical found in living cells, as well as provides genomics-based diagnostic technology and software systems that help testers to objectively analyze and store their results and perform analysis on the results from multiple locations over extended periods.