GSA Capital Partners LLP acquired a new stake in CVR Partners LP (NYSE:UAN) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 129,137 shares of the basic materials company’s stock, valued at approximately $417,000. GSA Capital Partners LLP owned about 0.11% of CVR Partners at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. Blackstone Group L.P. boosted its holdings in shares of CVR Partners by 0.9% in the 3rd quarter. Blackstone Group L.P. now owns 5,924,085 shares of the basic materials company’s stock valued at $19,135,000 after acquiring an additional 50,000 shares during the last quarter. HITE Hedge Asset Management LLC lifted its stake in shares of CVR Partners by 10.9% in the 3rd quarter. HITE Hedge Asset Management LLC now owns 519,235 shares of the basic materials company’s stock valued at $1,677,000 after purchasing an additional 50,912 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of CVR Partners by 2,522.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 212,197 shares of the basic materials company’s stock valued at $703,000 after purchasing an additional 204,104 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of CVR Partners by 698.5% in the 2nd quarter. Goldman Sachs Group Inc. now owns 3,270,562 shares of the basic materials company’s stock valued at $11,414,000 after purchasing an additional 2,860,954 shares during the period. Finally, Virtu KCG Holdings LLC lifted its stake in shares of CVR Partners by 47.0% in the 2nd quarter. Virtu KCG Holdings LLC now owns 47,458 shares of the basic materials company’s stock valued at $166,000 after purchasing an additional 15,174 shares during the period. 22.21% of the stock is currently owned by institutional investors and hedge funds.
Shares of CVR Partners LP (NYSE UAN) opened at $3.99 on Friday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.22 and a current ratio of 2.02. CVR Partners LP has a 12-month low of $2.58 and a 12-month high of $6.95.
CVR Partners (NYSE:UAN) last issued its earnings results on Wednesday, November 1st. The basic materials company reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.18). The business had revenue of $69.40 million during the quarter, compared to analyst estimates of $82.51 million. CVR Partners had a negative net margin of 17.75% and a negative return on equity of 9.91%. CVR Partners’s quarterly revenue was down 11.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.12) earnings per share. sell-side analysts forecast that CVR Partners LP will post -0.55 EPS for the current fiscal year.
In related news, major shareholder Gso Capital Partners Lp sold 1,900,000 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $3.00, for a total value of $5,700,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
UAN has been the subject of several analyst reports. Cowen reiterated a “hold” rating on shares of CVR Partners in a research note on Tuesday, September 26th. Zacks Investment Research upgraded shares of CVR Partners from a “sell” rating to a “hold” rating in a research report on Wednesday, October 25th. Three analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a buy rating to the company’s stock. CVR Partners currently has an average rating of “Hold” and a consensus price target of $5.50.
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CVR Partners Company Profile
CVR Partners, LP is a limited partnership formed by CVR Energy, Inc (CVR Energy) to own, operate and grow its nitrogen fertilizer business. The Company produces and distributes nitrogen fertilizer products, which are used by farmers to manage the yield and quality of their crops. As of December 31, 2016, the Company produced its nitrogen fertilizer products at two manufacturing facilities, located in Coffeyville, Kansas and East Dubuque, Illinois.
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