Ultrapar Participações S.A. (NYSE:UGP - Get Free Report)'s share price dropped 2.6% during trading on Thursday . The company traded as low as $2.59 and last traded at $2.59. 1,474,847 shares traded hands during mid-day trading, a decline of 4% from the average session volume of 1,537,426 shares. The stock had previously closed at $2.66.
Wall Street Analyst Weigh In
Separately, StockNews.com cut Ultrapar Participações from a "buy" rating to a "hold" rating in a report on Wednesday, November 13th. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $5.20.
View Our Latest Report on UGP
Ultrapar Participações Trading Down 2.3 %
The business has a 50 day moving average price of $3.24 and a 200-day moving average price of $3.77. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 5.65, a price-to-earnings-growth ratio of 2.21 and a beta of 1.53. The company has a quick ratio of 1.11, a current ratio of 1.57 and a debt-to-equity ratio of 0.76.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in the company. Marshall Wace LLP grew its stake in Ultrapar Participações by 332.6% during the 2nd quarter. Marshall Wace LLP now owns 1,429,946 shares of the oil and gas company's stock valued at $5,591,000 after purchasing an additional 1,099,433 shares in the last quarter. Renaissance Technologies LLC increased its holdings in shares of Ultrapar Participações by 57.9% in the 2nd quarter. Renaissance Technologies LLC now owns 2,450,300 shares of the oil and gas company's stock valued at $9,581,000 after acquiring an additional 898,600 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Ultrapar Participações during the 3rd quarter valued at approximately $1,595,000. Acadian Asset Management LLC raised its stake in Ultrapar Participações by 8.4% during the second quarter. Acadian Asset Management LLC now owns 3,764,084 shares of the oil and gas company's stock worth $14,713,000 after acquiring an additional 293,036 shares during the period. Finally, Virtu Financial LLC bought a new position in shares of Ultrapar Participações during the third quarter valued at approximately $452,000. 3.58% of the stock is currently owned by hedge funds and other institutional investors.
About Ultrapar Participações
(
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Ultrapar Participações SA, through its subsidiaries, operates in the energy and infrastructure business in Brazil. The company distributes liquefied petroleum gas to residential, commercial, and industrial consumers, in addition to renewable electricity and compressed natural gas. It also operates in the distribution and marketing of gasoline, ethanol, diesel, fuel oil, kerosene, natural gas for vehicles, and lubricants; and holds AmPm convenience stores and provides JetOil lubricant services.
Further Reading
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