Waddell & Reed Financial Inc. decreased its holdings in shares of Hi-Crush Partners LP (NYSE:HCLP) by 5.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 903,850 shares of the basic materials company’s stock after selling 52,520 shares during the quarter. Waddell & Reed Financial Inc. owned approximately 1.02% of Hi-Crush Partners worth $10,665,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of HCLP. JPMorgan Chase & Co. lifted its stake in Hi-Crush Partners by 48.9% during the first quarter. JPMorgan Chase & Co. now owns 2,613,585 shares of the basic materials company’s stock worth $27,704,000 after purchasing an additional 857,878 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Hi-Crush Partners by 39,497.8% during the first quarter. PNC Financial Services Group Inc. now owns 395,978 shares of the basic materials company’s stock worth $4,198,000 after purchasing an additional 394,978 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Hi-Crush Partners during the second quarter worth approximately $2,610,000. Van ECK Associates Corp purchased a new stake in Hi-Crush Partners during the first quarter worth approximately $2,286,000. Finally, Brightline Capital Management LLC lifted its stake in Hi-Crush Partners by 28.6% during the first quarter. Brightline Capital Management LLC now owns 675,000 shares of the basic materials company’s stock worth $7,155,000 after purchasing an additional 150,000 shares during the last quarter. Hedge funds and other institutional investors own 24.26% of the company’s stock.
In related news, insider William E. Barker sold 12,367 shares of the company’s stock in a transaction on Wednesday, August 8th. The stock was sold at an average price of $12.90, for a total transaction of $159,534.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider William E. Barker sold 9,444 shares of the company’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $12.40, for a total value of $117,105.60. Following the transaction, the insider now directly owns 17,968 shares in the company, valued at approximately $222,803.20. The disclosure for this sale can be found here. Insiders own 34.80% of the company’s stock.
Several research firms recently weighed in on HCLP. Cowen cut Hi-Crush Partners from an “outperform” rating to a “market perform” rating and set a $16.00 target price for the company. in a research note on Monday, July 30th. They noted that the move was a valuation call. Credit Suisse Group boosted their target price on Hi-Crush Partners from $15.00 to $17.00 and gave the stock an “outperform” rating in a research note on Thursday, August 2nd. TheStreet upgraded Hi-Crush Partners from a “c+” rating to a “b-” rating in a research note on Friday, July 20th. Jefferies Financial Group cut Hi-Crush Partners from a “buy” rating to a “hold” rating and set a $15.00 target price for the company. in a research note on Wednesday, July 25th. Finally, ValuEngine raised Hi-Crush Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, July 24th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $15.13.
HCLP traded down $0.23 during trading on Friday, hitting $10.24. 1,720,991 shares of the stock were exchanged, compared to its average volume of 1,896,375. The firm has a market cap of $954.64 million, a price-to-earnings ratio of 10.14 and a beta of 1.35. The company has a quick ratio of 1.47, a current ratio of 1.85 and a debt-to-equity ratio of 0.22. Hi-Crush Partners LP has a 1-year low of $8.60 and a 1-year high of $16.65.
Hi-Crush Partners (NYSE:HCLP) last released its earnings results on Tuesday, July 31st. The basic materials company reported $0.67 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.10). The company had revenue of $248.52 million during the quarter, compared to analyst estimates of $250.12 million. Hi-Crush Partners had a net margin of 22.92% and a return on equity of 24.51%. The company’s revenue for the quarter was up 83.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.18 EPS. Equities analysts expect that Hi-Crush Partners LP will post 2.49 EPS for the current fiscal year.
Hi-Crush Partners Profile
Hi-Crush Partners LP, together with its subsidiaries, provides proppant and logistics solutions to the energy industry in North America. The company produces monocrystalline sand, a specialized mineral used as a proppant during the well completion process to facilitate the recovery of hydrocarbons from oil and natural gas wells.
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