Proficio Capital Partners LLC Makes New $2.27 Million Investment in Argan, Inc. (NYSE:AGX)

Proficio Capital Partners LLC acquired a new stake in Argan, Inc. (NYSE:AGX - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 16,582 shares of the construction company's stock, valued at approximately $2,272,000. Proficio Capital Partners LLC owned about 0.12% of Argan at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of AGX. Victory Capital Management Inc. raised its holdings in shares of Argan by 279.4% in the third quarter. Victory Capital Management Inc. now owns 13,635 shares of the construction company's stock worth $1,383,000 after buying an additional 10,041 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in shares of Argan in the third quarter worth approximately $866,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Argan by 72.2% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 114,224 shares of the construction company's stock worth $11,586,000 after buying an additional 47,881 shares during the period. Intech Investment Management LLC purchased a new stake in shares of Argan in the third quarter worth approximately $339,000. Finally, Navellier & Associates Inc. raised its holdings in shares of Argan by 28.6% in the third quarter. Navellier & Associates Inc. now owns 7,923 shares of the construction company's stock worth $804,000 after buying an additional 1,761 shares during the period. 79.43% of the stock is owned by institutional investors.

Argan Price Performance

AGX traded up $0.20 on Friday, reaching $120.79. 360,129 shares of the stock were exchanged, compared to its average volume of 259,973. The company's 50-day moving average price is $140.50 and its 200 day moving average price is $132.84. Argan, Inc. has a fifty-two week low of $48.85 and a fifty-two week high of $191.46. The firm has a market capitalization of $1.64 billion, a PE ratio of 25.27 and a beta of 0.58.

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Insider Buying and Selling at Argan

In other Argan news, Director Peter W. Getsinger sold 800 shares of Argan stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $155.24, for a total transaction of $124,192.00. Following the completion of the transaction, the director now owns 19,177 shares in the company, valued at approximately $2,977,037.48. This trade represents a 4.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Richard H. Deily sold 2,000 shares of Argan stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $150.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 9,367 shares of the company's stock, valued at $1,405,050. The trade was a 17.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,185 shares of company stock worth $1,644,859. Insiders own 11.85% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on AGX. CJS Securities restated a "market perform" rating and set a $150.00 price objective on shares of Argan in a report on Friday, December 6th. Lake Street Capital downgraded Argan from a "buy" rating to a "hold" rating and raised their price objective for the stock from $85.00 to $150.00 in a report on Tuesday, December 3rd.

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.