Credit Suisse AG lifted its stake in Smart Sand Inc (NYSE:SND) by 6.6% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 16,728 shares of the company’s stock after purchasing an additional 1,038 shares during the quarter. Credit Suisse AG’s holdings in Smart Sand were worth $272,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in SND. American International Group Inc. purchased a new position in shares of Smart Sand in the 1st quarter valued at approximately $116,000. Nationwide Fund Advisors raised its position in shares of Smart Sand by 28.6% in the 1st quarter. Nationwide Fund Advisors now owns 7,190 shares of the company’s stock valued at $117,000 after purchasing an additional 1,597 shares during the last quarter. Metropolitan Life Insurance Co. NY purchased a new position in shares of Smart Sand in the 1st quarter valued at approximately $156,000. Quantbot Technologies LP purchased a new position in shares of Smart Sand in the 1st quarter valued at approximately $167,000. Finally, UBS Group AG raised its position in shares of Smart Sand by 472.6% in the 1st quarter. UBS Group AG now owns 12,826 shares of the company’s stock valued at $209,000 after purchasing an additional 10,586 shares during the last quarter.
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In related news, CFO Lee E. Beckelman bought 20,000 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were acquired at an average price of $5.13 per share, with a total value of $102,600.00. Following the completion of the acquisition, the chief financial officer now owns 137,500 shares in the company, valued at approximately $705,375. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Robert Kiszka bought 10,000 shares of the company’s stock in a transaction dated Friday, August 25th. The stock was bought at an average cost of $5.53 per share, for a total transaction of $55,300.00. Following the acquisition, the vice president now owns 110,629 shares of the company’s stock, valued at approximately $611,778.37. The disclosure for this purchase can be found here. In the last three months, insiders bought 132,000 shares of company stock worth $685,960.
Smart Sand Inc (NYSE SND) opened at 7.10 on Friday. The firm has a market cap of $286.64 million and a P/E ratio of 14.95. Smart Sand Inc has a one year low of $5.82 and a one year high of $21.99. The company has a 50-day moving average of $6.41 and a 200 day moving average of $6.41.
Smart Sand (NYSE:SND) last issued its quarterly earnings data on Thursday, August 10th. The company reported $0.06 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.09 by ($0.03). Smart Sand had a net margin of 8.81% and a return on equity of 6.22%. The firm had revenue of $29.79 million during the quarter, compared to analysts’ expectations of $29.88 million. During the same quarter in the prior year, the firm posted ($0.11) EPS. Smart Sand’s quarterly revenue was up 250.9% compared to the same quarter last year. Equities research analysts expect that Smart Sand Inc will post $0.31 earnings per share for the current fiscal year.
SND has been the subject of several research analyst reports. Deutsche Bank AG reaffirmed a “buy” rating and issued a $18.00 price objective (down from $21.00) on shares of Smart Sand in a research report on Tuesday, May 30th. Credit Suisse Group lowered shares of Smart Sand from an “outperform” rating to a “neutral” rating and decreased their price objective for the company from $20.00 to $8.50 in a research report on Thursday, July 20th. Zacks Investment Research lowered shares of Smart Sand from a “buy” rating to a “hold” rating in a research report on Saturday, June 17th. Jefferies Group LLC reiterated a “buy” rating and issued a $15.00 price target (down previously from $20.00) on shares of Smart Sand in a report on Monday, June 26th. Finally, Janney Montgomery Scott started coverage on shares of Smart Sand in a report on Thursday, June 15th. They issued a “buy” rating and a $13.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $14.15.
About Smart Sand
Smart Sand, Inc is a producer of Northern White raw frac sand, which is a proppant used to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells. The Company sells its products primarily to oil and natural gas exploration and production companies and oilfield service companies under a combination of long-term take-or-pay contracts and spot sales in the open market.
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