Wolverine Asset Management LLC Has $736,000 Stake in Profire Energy, Inc. (PFIE)
Wolverine Asset Management LLC grew its stake in Profire Energy, Inc. (NASDAQ:PFIE) by 65.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 217,856 shares of the oil and gas company’s stock after buying an additional 86,433 shares during the quarter. Wolverine Asset Management LLC owned 0.45% of Profire Energy worth $736,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Schwab Charles Investment Management Inc. acquired a new position in shares of Profire Energy in the 2nd quarter valued at about $149,000. Connors Investor Services Inc. acquired a new position in shares of Profire Energy in the 1st quarter valued at about $158,000. Dimensional Fund Advisors LP acquired a new position in shares of Profire Energy in the 1st quarter valued at about $159,000. Private Advisor Group LLC lifted its holdings in shares of Profire Energy by 340.7% in the 1st quarter. Private Advisor Group LLC now owns 59,500 shares of the oil and gas company’s stock valued at $162,000 after buying an additional 46,000 shares during the period. Finally, Westwood Management Corp IL lifted its holdings in shares of Profire Energy by 50.0% in the 2nd quarter. Westwood Management Corp IL now owns 60,000 shares of the oil and gas company’s stock valued at $203,000 after buying an additional 20,000 shares during the period. 41.98% of the stock is owned by institutional investors and hedge funds.
In related news, Director Harold Albert sold 5,000,000 shares of the company’s stock in a transaction dated Tuesday, July 3rd. The stock was sold at an average price of $3.25, for a total value of $16,250,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brenton W. Hatch sold 3,125,000 shares of the company’s stock in a transaction dated Tuesday, July 3rd. The stock was sold at an average price of $3.25, for a total value of $10,156,250.00. The disclosure for this sale can be found here. Corporate insiders own 50.70% of the company’s stock.
Profire Energy (NASDAQ:PFIE) last released its quarterly earnings results on Wednesday, August 8th. The oil and gas company reported $0.03 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.03. The company had revenue of $11.34 million during the quarter, compared to analysts’ expectations of $11.07 million. Profire Energy had a return on equity of 13.89% and a net margin of 13.77%. analysts forecast that Profire Energy, Inc. will post 0.14 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on PFIE shares. Maxim Group started coverage on Profire Energy in a report on Wednesday, May 30th. They issued a “buy” rating and a $7.00 price target for the company. ValuEngine raised Profire Energy from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 23rd. Zacks Investment Research cut Profire Energy from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. Finally, Roth Capital set a $5.00 price target on Profire Energy and gave the stock a “buy” rating in a report on Monday, August 6th. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $4.75.
Profire Energy Profile
Profire Energy, Inc, an oilfield technology company, provides burner- and chemical-management products and services for the oil and gas industry primarily in the United States and Canada. It assists energy production companies in the production and transportation of oil and natural gas. The company offers burner-management systems to ignite, monitor, and manage the burner flames used in oilfield vessels, as well as complementary oilfield products, such as valves and fuel trains, airplates, solar packages, and flare stack igniters and nozzles.
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