Hodges Capital Management Inc. Purchases Shares of 15,000 Hi-Crush Partners LP (NYSE:HCLP)
Hodges Capital Management Inc. purchased a new position in shares of Hi-Crush Partners LP (NYSE:HCLP) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 15,000 shares of the basic materials company’s stock, valued at approximately $163,000.
A number of other large investors have also added to or reduced their stakes in the stock. Morgan Stanley boosted its stake in 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 worth $173,709,000 after buying an additional 1,633,971 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in 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 worth $75,847,000 after buying an additional 2,027,256 shares in the last quarter. ING Groep NV boosted its stake in Hi-Crush Partners by 653.7% in the second quarter. ING Groep NV now owns 1,390,552 shares of the basic materials company’s stock worth $15,087,000 after buying an additional 1,206,058 shares in the last quarter. Sprott Inc. boosted its stake in Hi-Crush Partners by 11.9% in the second quarter. Sprott Inc. now owns 1,175,000 shares of the basic materials company’s stock worth $12,749,000 after buying an additional 125,000 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in Hi-Crush Partners by 107.5% in the first quarter. SG Americas Securities LLC now owns 1,056,518 shares of the basic materials company’s stock worth $18,331,000 after buying an additional 547,468 shares in the last quarter. 68.31% of the stock is owned by hedge funds and other institutional investors.
Shares of Hi-Crush Partners LP (NYSE:HCLP) opened at 8.15 on Friday. The stock has a 50 day moving average price of $9.39 and a 200 day moving average price of $14.39. Hi-Crush Partners LP has a 1-year low of $7.60 and a 1-year high of $23.30. The firm’s market capitalization is $741.89 million.
Hi-Crush Partners (NYSE:HCLP) last announced its quarterly earnings results on Wednesday, August 2nd. The basic materials company reported $0.18 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.18. Hi-Crush Partners had a negative return on equity of 1.58% and a negative net margin of 2.53%. The company had revenue of $135.22 million during the quarter, compared to analysts’ expectations of $138.61 million. During the same period in the prior year, the company earned ($0.26) EPS. Hi-Crush Partners’s revenue was up 251.9% compared to the same quarter last year. Equities research analysts anticipate that Hi-Crush Partners LP will post $1.03 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This piece was originally posted by Daily Political and is the sole property of of Daily Political. If you are reading this piece on another website, it was illegally copied and reposted in violation of US & international copyright laws. The legal version of this piece can be read at https://www.dailypolitical.com/2017/08/11/hodges-capital-management-inc-purchases-shares-of-15000-hi-crush-partners-lp-nysehclp.html.
HCLP has been the subject of a number of recent analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $30.00 price target on shares of Hi-Crush Partners in a report on Tuesday, May 30th. Evercore ISI initiated coverage on Hi-Crush Partners in a report on Thursday, May 25th. They set an “outperform” rating and a $22.00 price target for the company. BidaskClub cut Hi-Crush Partners from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Johnson Rice initiated coverage on Hi-Crush Partners in a report on Friday, June 23rd. They set an “accumulate” rating and a $17.00 price target for the company. Finally, Zacks Investment Research cut Hi-Crush Partners from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $19.91.
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.
Want to see what other hedge funds are holding HCLP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hi-Crush Partners LP (NYSE:HCLP).
Receive News & Ratings for Hi-Crush Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hi-Crush Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.