In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Pacific Ethanol Inc. (NASDAQ:PEIX) reported that Candlewood Investment Group has picked up 7,152,908 of common stock as of 2016-12-14.
The acquisition brings the aggregate amount owned by Candlewood Investment Group to a total of 7,152,908 representing a 18.0% stake in the company.
For those not familiar with the company, Pacific Ethanol, Inc. is a producer and marketer of low-carbon renewable fuels in the United States. The Company’s segments include a production segment and a marketing segment. It owns and operates over eight ethanol production facilities at which it produces ethanol and co-products. It produces ethanol co-products, including wet distiller’s grains, dry distillers’ grains with soluble, wet and dry corn gluten feed, condensed distillers solubles, corn gluten meal, corn germ, corn oil, distillers yeast and carbon dioxide.
A glance at Pacific Ethanol Inc. (NASDAQ:PEIX)’s key stats reveals a current market capitalization of $394.28 million based on 43.17 million shares outstanding and a price at last close of $9.73 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-02-11, Candlewood picked up 3,168 at a purchase price of $2.94. This brings their total holding to 900,177 as of the date of the filing.
On the sell side, the most recent transaction saw Candlewood unload 773 shares at a sale price of $10.33. This brings their total holding to 29,734.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Pacific Ethanol Inc. (NASDAQ:PEIX) as things move forward to see if its progress aligns with these transactions.
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