HighTower Advisors LLC Has $12,575,000 Position in Pacific Ethanol, Inc. (PEIX)

HighTower Advisors LLC lowered its stake in shares of Pacific Ethanol, Inc. (NASDAQ:PEIX) by 12.4% during the third quarter, Holdings Channel reports. The fund owned 1,819,294 shares of the company’s stock after selling 256,609 shares during the period. HighTower Advisors LLC’s holdings in Pacific Ethanol were worth $12,575,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Palo Capital Inc. purchased a new stake in shares of Pacific Ethanol during the third quarter valued at about $139,000. Alambic Investment Management L.P. bought a new stake in shares of Pacific Ethanol during the third quarter worth $153,000. Lorem Ipsum Management LLC bought a new stake in shares of Pacific Ethanol during the second quarter worth $272,000. Wells Fargo & Company MN boosted its stake in shares of Pacific Ethanol by 26.1% in the third quarter. Wells Fargo & Company MN now owns 280,335 shares of the company’s stock worth $1,938,000 after buying an additional 57,976 shares during the last quarter. Finally, Engineers Gate Manager LP bought a new stake in shares of Pacific Ethanol during the third quarter worth $421,000. Hedge funds and other institutional investors own 67.38% of the company’s stock.

Institutional Ownership by Quarter for Pacific Ethanol (NASDAQ:PEIX)

Shares of Pacific Ethanol, Inc. (NASDAQ:PEIX) opened at 7.65 on Friday. The stock’s 50 day moving average price is $8.23 and its 200-day moving average price is $7.54. Pacific Ethanol, Inc. has a 12 month low of $3.18 and a 12 month high of $10.95. The firm’s market capitalization is $330.28 million.

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A number of brokerages have recently weighed in on PEIX. TheStreet upgraded Pacific Ethanol from a “sell” rating to a “hold” rating in a research report on Wednesday, November 2nd. Roth Capital set a $12.00 price target on Pacific Ethanol and gave the stock a “buy” rating in a research report on Monday, February 6th. Finally, Zacks Investment Research cut Pacific Ethanol from a “buy” rating to a “hold” rating in a research report on Tuesday, October 25th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Pacific Ethanol has an average rating of “Buy” and an average price target of $11.33.

In other news, major shareholder Candlewood Investment Group, L sold 2,977,000 shares of the firm’s stock in a transaction dated Monday, December 12th. The stock was sold at an average price of $9.37, for a total value of $27,894,490.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Christopher W. Wright sold 6,426 shares of the firm’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $9.60, for a total value of $61,689.60. Following the completion of the sale, the vice president now directly owns 60,816 shares in the company, valued at $583,833.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,993,426 shares of company stock worth $28,053,280. 3.10% of the stock is currently owned by company insiders.

About Pacific Ethanol

Pacific Ethanol, Inc (Pacific Ethanol) is a marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol markets all the ethanol produced by four ethanol production facilities located in California, Idaho and Oregon, or the Pacific Ethanol Plants, all the ethanol produced by three other ethanol producers in the Western United States and ethanol purchased from other third-party suppliers throughout the United States.

5 Day Chart for NASDAQ:PEIX

Want to see what other hedge funds are holding PEIX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pacific Ethanol, Inc. (NASDAQ:PEIX).

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