Palogic Value Management L.P. Sells 45,000 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Palogic Value Management L.P. reduced its holdings in Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 40.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,000 shares of the company's stock after selling 45,000 shares during the quarter. Palogic Value Management L.P. owned about 0.06% of Atlas Energy Solutions worth $1,442,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Copeland Capital Management LLC raised its stake in Atlas Energy Solutions by 19.3% in the fourth quarter. Copeland Capital Management LLC now owns 2,247,774 shares of the company's stock worth $49,856,000 after buying an additional 363,742 shares in the last quarter. State Street Corp grew its holdings in shares of Atlas Energy Solutions by 15.0% during the 3rd quarter. State Street Corp now owns 1,751,059 shares of the company's stock worth $38,173,000 after acquiring an additional 227,776 shares during the period. Geode Capital Management LLC raised its position in shares of Atlas Energy Solutions by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,448,340 shares of the company's stock worth $31,579,000 after acquiring an additional 54,321 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Atlas Energy Solutions by 75.5% in the 4th quarter. Bank of New York Mellon Corp now owns 835,683 shares of the company's stock valued at $18,535,000 after purchasing an additional 359,420 shares during the period. Finally, Wellington Management Group LLP bought a new stake in shares of Atlas Energy Solutions during the third quarter valued at approximately $17,314,000. 34.59% of the stock is owned by hedge funds and other institutional investors.

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Wall Street Analyst Weigh In

Several equities analysts have commented on the company. The Goldman Sachs Group started coverage on Atlas Energy Solutions in a research report on Friday, December 13th. They set a "neutral" rating and a $23.00 price objective for the company. Benchmark lowered their price target on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, February 26th. Royal Bank of Canada cut their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set an "outperform" rating on the stock in a report on Wednesday, February 26th. Barclays lowered their target price on shares of Atlas Energy Solutions from $23.00 to $19.00 and set an "equal weight" rating for the company in a report on Monday, March 3rd. Finally, Stephens upped their price target on Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 28th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $23.83.

Insider Activity

In other news, major shareholder Stacy Hock sold 10,000 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $21.96, for a total value of $219,600.00. Following the transaction, the insider now owns 907,604 shares in the company, valued at $19,930,983.84. This represents a 1.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Brian Anthony Leveille sold 5,000 shares of Atlas Energy Solutions stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $23.00, for a total value of $115,000.00. Following the transaction, the insider now owns 404,510 shares in the company, valued at $9,303,730. This trade represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,000 shares of company stock valued at $1,164,750 over the last three months. Insiders own 24.34% of the company's stock.

Atlas Energy Solutions Stock Up 0.1 %

AESI stock traded up $0.02 during midday trading on Tuesday, hitting $18.56. The company's stock had a trading volume of 958,586 shares, compared to its average volume of 1,118,234. The firm's 50-day moving average is $20.94 and its 200-day moving average is $21.38. The company has a current ratio of 1.23, a quick ratio of 1.08 and a debt-to-equity ratio of 0.42. Atlas Energy Solutions Inc. has a 12 month low of $16.98 and a 12 month high of $26.86. The company has a market cap of $2.26 billion, a PE ratio of 23.49 and a beta of 1.18.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last announced its quarterly earnings results on Monday, February 24th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.12). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The business had revenue of $271.34 million for the quarter, compared to the consensus estimate of $272.94 million. On average, equities research analysts forecast that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 28th. Stockholders of record on Friday, February 21st were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 21st. This is a positive change from Atlas Energy Solutions's previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.39%. Atlas Energy Solutions's payout ratio is currently 178.57%.

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.