Renaissance Technologies LLC Lowers Holdings in Cosan Ltd (CZZ)

Renaissance Technologies LLC cut its position in shares of Cosan Ltd (NYSE:CZZ) by 34.7% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,288,299 shares of the basic materials company’s stock after selling 3,346,300 shares during the quarter. Renaissance Technologies LLC owned 2.59% of Cosan worth $47,980,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of CZZ. CIBC World Markets Inc. acquired a new position in shares of Cosan in the second quarter worth $192,000. Regal Investment Advisors LLC acquired a new position in shares of Cosan in the second quarter worth $126,000. Lonestar Capital Management LLC acquired a new position in shares of Cosan in the second quarter worth $9,144,000. Wells Fargo & Company MN raised its holdings in shares of Cosan by 97.1% in the second quarter. Wells Fargo & Company MN now owns 3,862,922 shares of the basic materials company’s stock worth $29,474,000 after acquiring an additional 1,903,141 shares during the last quarter. Finally, Engineers Gate Manager LP raised its holdings in shares of Cosan by 22.7% in the second quarter. Engineers Gate Manager LP now owns 149,837 shares of the basic materials company’s stock worth $1,143,000 after acquiring an additional 27,709 shares during the last quarter. 26.72% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have recently weighed in on the company. Credit Suisse Group cut Cosan from an “outperform” rating to a “neutral” rating in a report on Monday, July 23rd. Zacks Investment Research raised Cosan from a “sell” rating to a “hold” rating in a report on Wednesday, September 19th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.50.

Shares of NYSE CZZ traded up $0.09 during trading on Friday, reaching $7.22. The company had a trading volume of 1,103,491 shares, compared to its average volume of 1,033,422. Cosan Ltd has a twelve month low of $6.20 and a twelve month high of $11.89. The stock has a market cap of $1.64 billion, a price-to-earnings ratio of 11.28 and a beta of 2.18. The company has a quick ratio of 1.48, a current ratio of 1.58 and a debt-to-equity ratio of 1.43.

Cosan (NYSE:CZZ) last announced its quarterly earnings data on Friday, August 10th. The basic materials company reported $0.13 EPS for the quarter. The business had revenue of $1.14 billion during the quarter. Cosan had a return on equity of 4.77% and a net margin of 4.79%. As a group, analysts anticipate that Cosan Ltd will post 0.55 EPS for the current year.

Cosan Profile

Cosan Limited, together with its subsidiaries, engages in fuel and natural gas distribution, logistics, lubricant, sugar and ethanol businesses primarily in Brazil and internationally. The company's Raízen Energia produces and markets products derived from sugar cane, including raw sugar, anhydrous, and hydrated ethanol, as well as activities related to energy cogeneration from sugarcane bagasse.

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Institutional Ownership by Quarter for Cosan (NYSE:CZZ)

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