Malaga Cove Capital LLC increased its position in Hi-Crush Partners LP (NYSE:HCLP) by 13.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 118,544 shares of the basic materials company’s stock after purchasing an additional 13,750 shares during the period. Malaga Cove Capital LLC owned 0.13% of Hi-Crush Partners worth $1,292,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of HCLP. Miller Value Partners LLC raised its stake in Hi-Crush Partners by 20.0% during the 2nd quarter. Miller Value Partners LLC now owns 570,000 shares of the basic materials company’s stock valued at $6,726,000 after acquiring an additional 95,000 shares during the last quarter. Bramshill Investments LLC purchased a new position in shares of Hi-Crush Partners during the 2nd quarter worth approximately $890,000. Ardsley Advisory Partners raised its stake in shares of Hi-Crush Partners by 8.9% during the 2nd quarter. Ardsley Advisory Partners now owns 490,000 shares of the basic materials company’s stock worth $5,758,000 after buying an additional 40,000 shares in the last quarter. Hilltop Holdings Inc. grew its holdings in shares of Hi-Crush Partners by 35.7% in the 2nd quarter. Hilltop Holdings Inc. now owns 56,650 shares of the basic materials company’s stock worth $668,000 after acquiring an additional 14,900 shares during the period. Finally, First Republic Investment Management Inc. acquired a new stake in shares of Hi-Crush Partners in the 2nd quarter worth approximately $434,000. 23.89% of the stock is owned by institutional investors and hedge funds.
Shares of HCLP opened at $6.36 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.18 and a current ratio of 2.70. The firm has a market capitalization of $690.93 million, a P/E ratio of 6.30 and a beta of 1.55. Hi-Crush Partners LP has a twelve month low of $6.13 and a twelve month high of $16.65.
Hi-Crush Partners (NYSE:HCLP) last issued its earnings results on Tuesday, October 30th. The basic materials company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.05. Hi-Crush Partners had a return on equity of 24.52% and a net margin of 21.37%. The business had revenue of $213.97 million for the quarter, compared to analyst estimates of $212.11 million. During the same period last year, the company posted $0.32 EPS. The business’s quarterly revenue was up 27.7% on a year-over-year basis. Equities research analysts expect that Hi-Crush Partners LP will post 1.88 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Thursday, November 1st will be given a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 14.15%. The ex-dividend date of this dividend is Wednesday, October 31st. Hi-Crush Partners’s dividend payout ratio (DPR) is presently 89.11%.
HCLP has been the topic of a number of research reports. Zacks Investment Research cut Hi-Crush Partners from a “buy” rating to a “hold” rating in a report on Monday, July 23rd. ValuEngine upgraded Hi-Crush Partners from a “sell” rating to a “hold” rating in a report on Tuesday, July 24th. TheStreet upgraded Hi-Crush Partners from a “c+” rating to a “b-” rating in a report on Friday, July 20th. B. Riley increased their target price on Hi-Crush Partners from $17.00 to $18.00 and gave the company a “buy” rating in a report on Tuesday, July 24th. Finally, Jefferies Financial Group cut Hi-Crush Partners from a “buy” rating to a “hold” rating and set a $15.00 target price on the stock. in a report on Wednesday, July 25th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $12.73.
In other Hi-Crush Partners news, insider William E. Barker sold 9,444 shares of the firm’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $12.40, for a total value of $117,105.60. Following the transaction, the insider now directly owns 17,968 shares of the company’s stock, valued at $222,803.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 34.80% of the company’s stock.
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About Hi-Crush Partners
Hi-Crush Partners LP, together with its subsidiaries, provides proppant and logistics solutions to the energy industry in North America. The company produces monocrystalline sand, a specialized mineral used as a proppant during the well completion process to facilitate the recovery of hydrocarbons from oil and natural gas wells.
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