Kayne Anderson Capital Advisors LP Sells 225,228 Shares of ReNew Energy Global Plc (NASDAQ:RNW)

Kayne Anderson Capital Advisors LP lowered its position in ReNew Energy Global Plc (NASDAQ:RNW - Free Report) by 25.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 663,603 shares of the company's stock after selling 225,228 shares during the quarter. Kayne Anderson Capital Advisors LP owned about 0.18% of ReNew Energy Global worth $4,532,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Helikon Investments Ltd acquired a new position in ReNew Energy Global in the fourth quarter worth approximately $15,055,000. Franklin Resources Inc. acquired a new stake in shares of ReNew Energy Global in the 3rd quarter valued at $11,585,000. State of New Jersey Common Pension Fund D acquired a new stake in shares of ReNew Energy Global in the 4th quarter valued at $4,436,000. Silphium Asset Management Ltd bought a new position in ReNew Energy Global in the 4th quarter worth $2,049,000. Finally, The Manufacturers Life Insurance Company raised its holdings in ReNew Energy Global by 33.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,118,181 shares of the company's stock worth $7,033,000 after acquiring an additional 281,000 shares during the period. Institutional investors and hedge funds own 43.56% of the company's stock.

ReNew Energy Global Price Performance

NASDAQ:RNW traded down $0.02 during mid-day trading on Friday, hitting $6.11. The company's stock had a trading volume of 495,801 shares, compared to its average volume of 1,039,625. ReNew Energy Global Plc has a fifty-two week low of $5.15 and a fifty-two week high of $7.49. The company has a current ratio of 0.60, a quick ratio of 0.64 and a debt-to-equity ratio of 4.74. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 122.20 and a beta of 0.89. The stock has a fifty day moving average of $6.51 and a 200-day moving average of $6.26.

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ReNew Energy Global (NASDAQ:RNW - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.07). ReNew Energy Global had a return on equity of 1.75% and a net margin of 2.17%. The business had revenue of $248.00 million during the quarter, compared to analyst estimates of $20.22 billion. As a group, equities analysts forecast that ReNew Energy Global Plc will post 0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Roth Mkm cut their price objective on shares of ReNew Energy Global from $8.00 to $7.50 and set a "buy" rating for the company in a research report on Friday, February 21st.

ReNew Energy Global Company Profile

ReNew Energy Global Plc generates power through non-conventional and renewable energy sources in India. The company operates through two segments: Wind Power and Solar Power. It develops, builds, owns, and operates utility scale wind and solar energy, hydro energy, and utility-scale firm power projects, as well as distributed solar energy projects that generate energy for commercial and industrial customers.