Avondale Wealth Management Sells 3,500 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Avondale Wealth Management reduced its holdings in Atlas Energy Solutions Inc. (NYSE:AESI) by 22.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,250 shares of the company’s stock after selling 3,500 shares during the period. Avondale Wealth Management’s holdings in Atlas Energy Solutions were worth $272,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Atlas Energy Solutions by 1.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 44,931 shares of the company’s stock worth $979,000 after acquiring an additional 711 shares in the last quarter. Beck Capital Management LLC boosted its holdings in shares of Atlas Energy Solutions by 0.6% in the 2nd quarter. Beck Capital Management LLC now owns 130,588 shares of the company’s stock worth $2,603,000 after purchasing an additional 749 shares during the period. CWM LLC increased its position in shares of Atlas Energy Solutions by 47.1% during the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after purchasing an additional 886 shares during the last quarter. Cetera Investment Advisers raised its holdings in Atlas Energy Solutions by 1.0% during the 2nd quarter. Cetera Investment Advisers now owns 88,654 shares of the company’s stock valued at $1,767,000 after buying an additional 897 shares during the period. Finally, FMR LLC lifted its position in Atlas Energy Solutions by 101.0% in the third quarter. FMR LLC now owns 2,696 shares of the company’s stock worth $59,000 after buying an additional 1,355 shares during the last quarter. 34.59% of the stock is currently owned by institutional investors.

Insider Transactions at Atlas Energy Solutions

In other news, major shareholder Brian Anthony Leveille sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $23.00, for a total transaction of $115,000.00. Following the completion of the transaction, the insider now directly owns 404,510 shares of the company’s stock, valued at $9,303,730. This represents a 1.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Gregory M. Shepard purchased 1,797 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was bought at an average cost of $19.65 per share, for a total transaction of $35,311.05. Following the purchase, the insider now directly owns 7,507,194 shares in the company, valued at $147,516,362.10. This trade represents a 0.02 % increase in their position. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 60,869 shares of company stock valued at $1,187,983 and have sold 129,642 shares valued at $2,890,121. Corporate insiders own 24.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $25.00 target price on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. The Goldman Sachs Group initiated coverage on shares of Atlas Energy Solutions in a report on Friday, December 13th. They issued a “neutral” rating and a $23.00 price target on the stock. Raymond James cut Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday. Citigroup cut Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their price target for the company from $23.00 to $22.00 in a research note on Thursday, November 14th. Finally, Barclays lowered shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $23.00 to $19.00 in a research report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $24.67.

Atlas Energy Solutions Stock Performance

Shares of Atlas Energy Solutions stock traded down $0.10 during trading on Friday, hitting $21.83. 118,273 shares of the company’s stock were exchanged, compared to its average volume of 570,365. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 27.63, a PEG ratio of 11.53 and a beta of 1.03. The business has a 50-day simple moving average of $22.05 and a 200-day simple moving average of $21.13. Atlas Energy Solutions Inc. has a 52-week low of $15.55 and a 52-week high of $24.93. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23.

Atlas Energy Solutions (NYSE:AESI) last released its quarterly earnings data on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.25). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The company had revenue of $304.40 million for the quarter, compared to analysts’ expectations of $307.93 million. During the same quarter in the previous year, the business posted $0.51 EPS. The business’s quarterly revenue was up 93.1% on a year-over-year basis. On average, research analysts forecast that Atlas Energy Solutions Inc. will post 0.88 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Thursday, November 7th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.40%. The ex-dividend date was Thursday, November 7th. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s dividend payout ratio is currently 121.52%.

Atlas Energy Solutions Profile

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.