L & S Advisors Inc increased its holdings in shares of Hi-Crush Partners LP (NYSE:HCLP) by 161.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,575 shares of the basic materials company’s stock after buying an additional 83,200 shares during the quarter. L & S Advisors Inc owned 0.15% of Hi-Crush Partners worth $1,278,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also modified their holdings of the company. Strid Group LLC acquired a new stake in shares of Hi-Crush Partners in the second quarter worth about $109,000. S. Muoio & CO. LLC acquired a new position in shares of Hi-Crush Partners during the 2nd quarter worth about $111,000. Advisor Group Inc. lifted its position in shares of Hi-Crush Partners by 80.5% during the 3rd quarter. Advisor Group Inc. now owns 15,780 shares of the basic materials company’s stock worth $151,000 after purchasing an additional 7,036 shares during the last quarter. Pinnacle Associates Ltd. acquired a new position in shares of Hi-Crush Partners during the 2nd quarter worth about $157,000. Finally, Hodges Capital Management Inc. acquired a new position in shares of Hi-Crush Partners during the 2nd quarter worth about $163,000. Institutional investors and hedge funds own 43.95% of the company’s stock.
Shares of Hi-Crush Partners LP (HCLP) traded down $0.10 on Friday, reaching $10.70. The company’s stock had a trading volume of 1,214,195 shares, compared to its average volume of 1,878,673. The company has a market cap of $983.13, a price-to-earnings ratio of 33.75 and a beta of 0.94. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.77 and a quick ratio of 1.29. 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 quarterly earnings data on Tuesday, October 31st. The basic materials company reported $0.32 EPS for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.08). The firm had revenue of $167.58 million during the quarter, compared to the consensus estimate of $168.95 million. Hi-Crush Partners had a net margin of 7.09% and a return on equity of 5.01%. The firm’s quarterly revenue was up 259.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.21) earnings per share. equities analysts forecast that Hi-Crush Partners LP will post 0.97 earnings per share for the current fiscal year.
Hi-Crush Partners declared that its board has authorized a share buyback plan on Tuesday, October 17th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the basic materials company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
Several research firms recently weighed in on HCLP. Barclays assumed coverage on Hi-Crush Partners in a research report on Friday. They set an “equal weight” rating and a $12.00 price objective for the company. Piper Jaffray Companies set a $12.00 price target on Hi-Crush Partners and gave the company a “buy” rating in a report on Tuesday, October 31st. Janney Montgomery Scott started coverage on Hi-Crush Partners in a report on Wednesday, September 6th. They issued a “neutral” rating and a $10.00 price target for the company. BidaskClub lowered Hi-Crush Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, Seaport Global Securities started coverage on Hi-Crush Partners in a research note on Friday, December 8th. They issued a “buy” rating and a $17.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company. Hi-Crush Partners presently has a consensus rating of “Buy” and an average target price of $16.08.
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Hi-Crush Partners Company Profile
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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