The Manufacturers Life Insurance Company Purchases 281,000 Shares of ReNew Energy Global Plc (NASDAQ:RNW)

The Manufacturers Life Insurance Company boosted its position in shares of ReNew Energy Global Plc (NASDAQ:RNW - Free Report) by 33.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,118,181 shares of the company's stock after buying an additional 281,000 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.31% of ReNew Energy Global worth $7,033,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of RNW. Kayne Anderson Capital Advisors LP boosted its stake in shares of ReNew Energy Global by 21.3% in the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 888,831 shares of the company's stock valued at $5,591,000 after purchasing an additional 156,147 shares in the last quarter. M&G PLC acquired a new stake in shares of ReNew Energy Global in the 3rd quarter valued at approximately $8,097,000. Carrhae Capital LLP boosted its stake in shares of ReNew Energy Global by 69.3% in the 3rd quarter. Carrhae Capital LLP now owns 3,654,991 shares of the company's stock valued at $22,990,000 after purchasing an additional 1,495,819 shares in the last quarter. Fiera Capital Corp acquired a new stake in shares of ReNew Energy Global in the 3rd quarter valued at approximately $2,233,000. Finally, Victory Capital Management Inc. boosted its stake in shares of ReNew Energy Global by 805.4% in the 2nd quarter. Victory Capital Management Inc. now owns 156,549 shares of the company's stock valued at $977,000 after purchasing an additional 139,259 shares in the last quarter. 43.56% of the stock is currently owned by institutional investors and hedge funds.

ReNew Energy Global Trading Up 2.2 %

NASDAQ RNW traded up $0.13 during trading hours on Thursday, reaching $6.14. The company's stock had a trading volume of 469,600 shares, compared to its average volume of 869,023. The firm has a fifty day simple moving average of $5.83 and a 200-day simple moving average of $5.94. The stock has a market cap of $2.23 billion, a P/E ratio of 102.35 and a beta of 0.96. ReNew Energy Global Plc has a 52 week low of $5.15 and a 52 week high of $7.79. The company has a debt-to-equity ratio of 4.51, a current ratio of 0.65 and a quick ratio of 0.64.

Analyst Ratings Changes

RNW has been the topic of a number of research analyst reports. Roth Mkm reduced their price target on shares of ReNew Energy Global from $9.00 to $8.00 and set a "buy" rating on the stock in a research note on Monday, August 19th. Morgan Stanley lowered shares of ReNew Energy Global from an "overweight" rating to an "equal weight" rating in a report on Thursday, September 26th.

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.