Pointe Capital Management LLC cut its stake in shares of Hi-Crush Partners LP (NYSE:HCLP) by 13.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 69,943 shares of the basic materials company’s stock after selling 10,733 shares during the quarter. Pointe Capital Management LLC’s holdings in Hi-Crush Partners were worth $748,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Malaga Cove Capital LLC grew its stake in shares of Hi-Crush Partners by 27.1% during the 3rd quarter. Malaga Cove Capital LLC now owns 83,019 shares of the basic materials company’s stock valued at $791,000 after acquiring an additional 17,721 shares during the period. Ninepoint Partners LP bought a new position in shares of Hi-Crush Partners during the 3rd quarter valued at approximately $15,200,000. L & S Advisors Inc grew its stake in shares of Hi-Crush Partners by 161.9% during the 3rd quarter. L & S Advisors Inc now owns 134,575 shares of the basic materials company’s stock valued at $1,278,000 after acquiring an additional 83,200 shares during the period. TVR Capital Management LP bought a new position in shares of Hi-Crush Partners during the 2nd quarter valued at approximately $667,000. Finally, Clear Harbor Asset Management LLC grew its stake in shares of Hi-Crush Partners by 69.5% during the 3rd quarter. Clear Harbor Asset Management LLC now owns 796,137 shares of the basic materials company’s stock valued at $7,563,000 after acquiring an additional 326,414 shares during the period. Institutional investors own 43.87% of the company’s stock.
A number of research analysts recently issued reports on the company. Piper Jaffray Companies assumed coverage on Hi-Crush Partners in a research note on Monday, September 25th. They set an “overweight” rating and a $11.75 price objective for the company. BidaskClub upgraded Hi-Crush Partners from a “hold” rating to a “buy” rating in a research note on Monday, October 23rd. ValuEngine upgraded Hi-Crush Partners from a “sell” rating to a “hold” rating in a research note on Monday, October 2nd. Johnson Rice raised Hi-Crush Partners from an “accumulate” rating to a “buy” rating and set a $15.00 price target on the stock in a report on Monday, December 4th. Finally, Zacks Investment Research cut Hi-Crush Partners from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $16.15.
Hi-Crush Partners LP (NYSE HCLP) traded up $0.05 during midday trading on Friday, reaching $12.75. The company had a trading volume of 2,368,553 shares, compared to its average volume of 1,759,411. The company has a current ratio of 1.77, a quick ratio of 1.29 and a debt-to-equity ratio of 0.24. Hi-Crush Partners LP has a one year low of $7.25 and a one year high of $23.30. The stock has a market cap of $1,160.00, a PE ratio of 39.84 and a beta of 0.96.
Hi-Crush Partners (NYSE:HCLP) last posted its quarterly earnings results on Tuesday, October 31st. The basic materials company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.08). Hi-Crush Partners had a return on equity of 5.01% and a net margin of 7.09%. The business had revenue of $167.58 million during the quarter, compared to analysts’ expectations of $168.95 million. During the same period in the prior year, the firm posted ($0.21) earnings per share. The firm’s revenue for the quarter was up 259.9% on a year-over-year basis. sell-side analysts predict that Hi-Crush Partners LP will post 0.97 earnings per share for the current fiscal year.
Hi-Crush Partners announced that its Board of Directors has initiated a stock buyback program on Tuesday, October 17th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the basic materials company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
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Hi-Crush Partners Company Profile
Hi-Crush Partners LP is an integrated producer, transporter, marketer and distributor of monocrystalline sand, a specialized mineral that is used as a proppant to manage the recovery rates of hydrocarbons from oil and natural gas wells. Its reserves consist of northern white sand, a resource in Wisconsin and limited portions of the upper Midwest region of the United States.
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