Russell Investments Group Ltd. Raises Holdings in Hi-Crush Partners LP (HCLP)
Russell Investments Group Ltd. boosted its holdings in shares of Hi-Crush Partners LP (NYSE:HCLP) by 84.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 40,747 shares of the basic materials company’s stock after purchasing an additional 18,648 shares during the period. Russell Investments Group Ltd.’s holdings in Hi-Crush Partners were worth $442,000 as of its most recent filing with the SEC.
A number of other institutional investors have also modified their holdings of the business. Goldman Sachs Group Inc. boosted its holdings in shares of Hi-Crush Partners by 86.5% in the first quarter. Goldman Sachs Group Inc. now owns 4,371,553 shares of the basic materials company’s stock valued at $75,847,000 after acquiring an additional 2,027,256 shares in the last quarter. Morgan Stanley boosted its holdings in shares of Hi-Crush Partners by 19.5% in the first quarter. Morgan Stanley now owns 10,011,999 shares of the basic materials company’s stock valued at $173,709,000 after acquiring an additional 1,633,971 shares in the last quarter. Bronson Point Management LLC purchased a new stake in shares of Hi-Crush Partners in the first quarter valued at about $13,880,000. Lafitte Capital Management LP boosted its holdings in shares of Hi-Crush Partners by 144.5% in the first quarter. Lafitte Capital Management LP now owns 1,015,336 shares of the basic materials company’s stock valued at $17,616,000 after acquiring an additional 600,000 shares in the last quarter. Finally, Omega Advisors Inc. purchased a new stake in shares of Hi-Crush Partners in the first quarter valued at about $8,675,000. 50.40% of the stock is currently owned by institutional investors.
Several analysts have recently weighed in on HCLP shares. Johnson Rice started coverage on shares of Hi-Crush Partners in a report on Friday, June 23rd. They issued an “accumulate” rating and a $17.00 target price on the stock. UBS AG reduced their price objective on shares of Hi-Crush Partners from $23.00 to $17.00 and set a “buy” rating for the company in a research note on Friday, August 4th. Jefferies Group LLC reiterated a “buy” rating and issued a $30.00 price objective on shares of Hi-Crush Partners in a research note on Tuesday, May 30th. Cowen and Company reiterated a “buy” rating and issued a $12.00 price objective on shares of Hi-Crush Partners in a research note on Sunday. Finally, Zacks Investment Research upgraded shares of Hi-Crush Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $17.50.
Shares of Hi-Crush Partners LP (NYSE HCLP) traded up 4.1209% during mid-day trading on Thursday, hitting $9.7353. 963,314 shares of the company traded hands. The firm has a 50-day moving average price of $8.20 and a 200 day moving average price of $12.04. The firm’s market cap is $886.20 million. Hi-Crush Partners LP has a 52-week low of $7.25 and a 52-week high of $23.30.
Hi-Crush Partners (NYSE:HCLP) last announced its earnings results on Wednesday, August 2nd. The basic materials company reported $0.18 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.18. The firm had revenue of $135.22 million during the quarter, compared to analyst estimates of $138.61 million. Hi-Crush Partners had a negative net margin of 2.53% and a negative return on equity of 1.58%. Hi-Crush Partners’s revenue was up 251.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.26) EPS. Equities research analysts anticipate that Hi-Crush Partners LP will post $1.04 EPS for the current fiscal year.
About Hi-Crush Partners
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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