Sanders Morris Harris LLC purchased a new stake in shares of Hi-Crush Partners LP (NYSE:HCLP) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 18,500 shares of the basic materials company’s stock, valued at approximately $200,000.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Barnett & Company Inc. raised its stake in shares of Hi-Crush Partners by 6.7% in the first quarter. Barnett & Company Inc. now owns 17,445 shares of the basic materials company’s stock valued at $303,000 after buying an additional 1,100 shares during the last quarter. HITE Hedge Asset Management LLC acquired a new stake in shares of Hi-Crush Partners during the first quarter valued at approximately $3,549,000. Mizuho Securities USA Inc. raised its stake in shares of Hi-Crush Partners by 257.1% in the first quarter. Mizuho Securities USA Inc. now owns 125,000 shares of the basic materials company’s stock valued at $2,081,000 after buying an additional 90,000 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Hi-Crush Partners during the first quarter valued at approximately $209,000. Finally, Lucas Capital Management acquired a new stake in shares of Hi-Crush Partners during the first quarter valued at approximately $260,000. Institutional investors own 68.31% of the company’s stock.
Shares of Hi-Crush Partners LP (HCLP) traded down 6.78% during trading on Tuesday, reaching $8.25. The company had a trading volume of 2,339,492 shares. The firm’s 50 day moving average price is $9.60 and its 200 day moving average price is $14.69. The firm’s market capitalization is $750.89 million. Hi-Crush Partners LP has a 12 month low of $7.60 and a 12 month high of $23.30.
Hi-Crush Partners (NYSE:HCLP) last announced its earnings results on Wednesday, August 2nd. The basic materials company reported $0.18 EPS for the quarter, meeting analysts’ consensus estimates of $0.18. The firm had revenue of $135.22 million for the quarter, compared to analysts’ expectations of $138.61 million. Hi-Crush Partners had a negative return on equity of 1.58% and a negative net margin of 2.53%. Hi-Crush Partners’s quarterly revenue was up 251.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.26) EPS. Equities analysts predict that Hi-Crush Partners LP will post $1.03 EPS for the current year.
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HCLP has been the topic of several research analyst reports. Credit Suisse Group dropped their price objective on Hi-Crush Partners from $24.00 to $12.00 and set an “outperform” rating on the stock in a report on Thursday, July 20th. Jefferies Group LLC reissued a “buy” rating and issued a $30.00 price objective (down from $32.00) on shares of Hi-Crush Partners in a report on Tuesday, May 2nd. Mizuho initiated coverage on Hi-Crush Partners in a report on Wednesday, May 3rd. They issued a “buy” rating and a $20.00 price objective on the stock. Evercore ISI began coverage on Hi-Crush Partners in a report on Thursday, May 25th. They issued an “outperform” rating and a $22.00 price objective on the stock. Finally, Zacks Investment Research lowered Hi-Crush Partners from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 25th. Three equities research analysts have rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $19.91.
About Hi-Crush Partners
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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