Altus Midstream (ALTM) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Altus Midstream (NYSE:ALTM) from a hold rating to a sell rating in a report released on Monday morning, Zacks.com reports.

According to Zacks, “Altus Midstream Company is a pure-play, Permian Basin midstream C-corporation. The company or its subsidiaries own substantially all of the gas gathering, processing and transportation assets servicing Apache Corporation’s production in the Alpine High play in the Delaware Basin. Altus Midstream Company, formerly known as Kayne Anderson Acquisition Corporation, is based in Houston, United States. “

Separately, Barclays lowered shares of Altus Midstream from an overweight rating to an equal weight rating and lowered their price target for the company from $10.00 to $7.00 in a report on Tuesday, April 16th.

NYSE ALTM opened at $5.32 on Monday. Altus Midstream has a 1-year low of $4.83 and a 1-year high of $10.48.

Altus Midstream (NYSE:ALTM) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.01 earnings per share for the quarter. The firm had revenue of $33.85 million for the quarter.

In related news, major shareholder Kayne Anderson Capital Advisor sold 223,600 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $6.13, for a total value of $1,370,668.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last three months, insiders sold 552,314 shares of company stock valued at $3,466,354.

A number of hedge funds have recently made changes to their positions in the business. Jane Street Group LLC bought a new position in Altus Midstream in the first quarter valued at approximately $108,000. Hotchkis & Wiley Capital Management LLC boosted its stake in Altus Midstream by 268.1% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,491,440 shares of the company’s stock valued at $8,799,000 after acquiring an additional 1,086,240 shares during the last quarter. Morgan Stanley boosted its stake in Altus Midstream by 262.6% in the first quarter. Morgan Stanley now owns 99,967 shares of the company’s stock valued at $590,000 after acquiring an additional 72,398 shares during the last quarter. SEI Investments Co bought a new position in Altus Midstream in the first quarter valued at approximately $214,000. Finally, Goldman Sachs Group Inc. boosted its stake in Altus Midstream by 94.8% in the first quarter. Goldman Sachs Group Inc. now owns 292,141 shares of the company’s stock valued at $1,724,000 after acquiring an additional 142,189 shares during the last quarter.

About Altus Midstream

There is no company description available for Altus Midstream Co

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