Envestnet Asset Management Inc. Raises Stock Holdings in Atlas Energy Solutions Inc. (NYSE:AESI)

Envestnet Asset Management Inc. grew its stake in shares of Atlas Energy Solutions Inc. (NYSE:AESI) by 24.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 347,690 shares of the company’s stock after buying an additional 68,886 shares during the period. Envestnet Asset Management Inc. owned 0.32% of Atlas Energy Solutions worth $7,712,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CBIZ Investment Advisory Services LLC boosted its position in shares of Atlas Energy Solutions by 62.9% in the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company’s stock worth $30,000 after purchasing an additional 523 shares during the period. Global Retirement Partners LLC boosted its holdings in Atlas Energy Solutions by 191.9% in the 4th quarter. Global Retirement Partners LLC now owns 1,941 shares of the company’s stock worth $43,000 after buying an additional 1,276 shares during the period. Promus Capital LLC purchased a new stake in Atlas Energy Solutions in the 4th quarter worth $55,000. FMR LLC raised its holdings in Atlas Energy Solutions by 101.0% during the third quarter. FMR LLC now owns 2,696 shares of the company’s stock valued at $59,000 after acquiring an additional 1,355 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Atlas Energy Solutions in the fourth quarter valued at about $155,000. 34.59% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 5,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $23.88, for a total value of $119,400.00. Following the completion of the transaction, the insider now directly owns 382,010 shares in the company, valued at approximately $9,122,398.80. The trade was a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Gregory M. Shepard purchased 32,155 shares of the stock in a transaction dated Thursday, February 27th. The stock was purchased at an average price of $19.04 per share, for a total transaction of $612,231.20. Following the completion of the acquisition, the insider now directly owns 7,651,210 shares in the company, valued at approximately $145,679,038.40. This represents a 0.42 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold a total of 27,500 shares of company stock worth $650,150 in the last three months. Corporate insiders own 15.98% of the company’s stock.

Atlas Energy Solutions Price Performance

Shares of AESI stock opened at $14.12 on Friday. The company’s 50-day simple moving average is $17.55 and its two-hundred day simple moving average is $20.48. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. Atlas Energy Solutions Inc. has a one year low of $12.41 and a one year high of $26.86. The company has a market capitalization of $1.72 billion, a P/E ratio of 17.87 and a beta of 1.20.

Atlas Energy Solutions (NYSE:AESI) last announced its quarterly earnings data on Monday, February 24th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.12). The firm had revenue of $271.34 million during the quarter, compared to the consensus estimate of $272.94 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. As a group, equities analysts anticipate that Atlas Energy Solutions Inc. will post 0.83 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 28th. Investors 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 yield of 7.08%. Atlas Energy Solutions’s dividend payout ratio is 178.57%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on AESI. Stephens boosted their price target on Atlas Energy Solutions from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Barclays cut their price objective on Atlas Energy Solutions from $23.00 to $19.00 and set an “equal weight” rating for the company in a research report on Monday, March 3rd. Piper Sandler assumed coverage on shares of Atlas Energy Solutions in a research report on Wednesday, March 12th. They issued an “overweight” rating and a $22.00 price target on the stock. Raymond James downgraded Atlas Energy Solutions from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 6th. Finally, The Goldman Sachs Group reduced their target price on shares of Atlas Energy Solutions from $22.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, April 10th. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Atlas Energy Solutions presently has an average rating of “Moderate Buy” and a consensus price target of $22.44.

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.