Malaga Cove Capital LLC purchased a new position in shares of Hi-Crush Partners LP (NYSE:HCLP) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 65,298 shares of the basic materials company’s stock, valued at approximately $723,000. Malaga Cove Capital LLC owned about 0.07% of Hi-Crush Partners at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Deprince Race & Zollo Inc. purchased a new position in Hi-Crush Partners during the first quarter worth $191,000. GSA Capital Partners LLP acquired a new stake in shares of Hi-Crush Partners during the fourth quarter worth approximately $222,000. IFP Advisors Inc increased its stake in shares of Hi-Crush Partners by 391.5% in the first quarter. IFP Advisors Inc now owns 11,938 shares of the basic materials company’s stock worth $207,000 after buying an additional 9,509 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 worth approximately $209,000. Finally, NEXT Financial Group Inc raised its position in shares of Hi-Crush Partners by 761.9% in the second quarter. NEXT Financial Group Inc now owns 13,575 shares of the basic materials company’s stock valued at $147,000 after buying an additional 12,000 shares during the period. Institutional investors own 68.31% of the company’s stock.
Hi-Crush Partners LP (NYSE:HCLP) traded down 1.21% during midday trading on Wednesday, hitting $8.15. 470,511 shares of the stock were exchanged. Hi-Crush Partners LP has a 12-month low of $7.60 and a 12-month high of $23.30. The firm has a 50 day moving average of $9.60 and a 200-day moving average of $14.69. The stock’s market cap is $741.79 million.
Hi-Crush Partners (NYSE:HCLP) last released its earnings results on Wednesday, August 2nd. The basic materials company reported $0.18 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.18. The company 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%. The business’s revenue for the quarter was up 251.9% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.26) EPS. On average, equities analysts expect that Hi-Crush Partners LP will post $1.03 earnings per share for the current year.
Several brokerages have weighed in on HCLP. Zacks Investment Research raised Hi-Crush Partners from a “sell” rating to a “hold” rating in a report on Tuesday. UBS AG lowered their price objective on Hi-Crush Partners from $23.00 to $17.00 and set a “buy” rating on the stock in a research report on Friday, August 4th. Cowen and Company decreased their price objective on Hi-Crush Partners from $22.00 to $12.00 and set an “outperform” rating on the stock in a report on Friday, August 4th. They noted that the move was a valuation call. BidaskClub cut Hi-Crush Partners from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Finally, Credit Suisse Group cut their price objective on Hi-Crush Partners from $24.00 to $12.00 and set an “outperform” rating on the stock in a research report on Thursday, July 20th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and ten have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $19.91.
Hi-Crush Partners Company Profile
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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