Swiss National Bank cut its stake in Memorial Resource Development Corp. (NASDAQ:MRD) by 15.2% during the second quarter, Holdings Channel reports. The fund owned 143,200 shares of the company’s stock after selling 25,700 shares during the period. Swiss National Bank owned approximately 0.07% of Memorial Resource Development Corp. worth $2,274,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. CWM LLC raised its stake in Memorial Resource Development Corp. by 0.3% in the second quarter. CWM LLC now owns 33,071 shares of the company’s stock worth $525,000 after buying an additional 94 shares during the period. Boothbay Fund Management LLC raised its stake in Memorial Resource Development Corp. by 18.4% in the first quarter. Boothbay Fund Management LLC now owns 12,576 shares of the company’s stock worth $128,000 after buying an additional 1,955 shares during the period. Hancock Holding Co. raised its stake in Memorial Resource Development Corp. by 1.8% in the first quarter. Hancock Holding Co. now owns 500,927 shares of the company’s stock worth $5,099,000 after buying an additional 8,682 shares during the period. IBM Retirement Fund bought a new stake in Memorial Resource Development Corp. during the second quarter worth about $162,000. Finally, Avalon Advisors LLC raised its stake in Memorial Resource Development Corp. by 42.8% in the first quarter. Avalon Advisors LLC now owns 42,453 shares of the company’s stock worth $432,000 after buying an additional 12,727 shares during the period. Institutional investors own 85.32% of the company’s stock.

Shares of Memorial Resource Development Corp. (NASDAQ:MRD) remained flat at $14.72 during midday trading on Friday. Memorial Resource Development Corp. has a 12 month low of $8.30 and a 12 month high of $20.25. The company’s market capitalization is $2.83 billion. The company’s 50 day moving average price is $14.99 and its 200-day moving average price is $13.86.

A number of analysts have recently issued reports on MRD shares. Johnson Rice lowered shares of Memorial Resource Development Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday, May 25th. BMO Capital Markets lowered shares of Memorial Resource Development Corp. from an “outperform” rating to a “market perform” rating and set a $17.00 price objective on the stock. in a research report on Friday, July 29th. Thirteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $16.82.

In other news, Director Patrick Wood III sold 3,500 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $14.44, for a total transaction of $50,540.00. Following the sale, the director now owns 31,711 shares in the company, valued at approximately $457,906.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Tyler Joseph Fenley sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $16.42, for a total value of $410,500.00. Following the sale, the insider now owns 102,661 shares in the company, valued at approximately $1,685,693.62. The disclosure for this sale can be found here. Company insiders own 51.10% of the company’s stock.

About Memorial Resource Development Corp.

Memorial Resource Development Corp. is an independent natural gas and oil company focused on the acquisition, exploration and development of natural gas and oil properties with substantially all of its activities in the Terryville Complex of North Louisiana. The Company’s segments include MRD and Memorial Production Partners LP (MEMP).

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