Van ECK Associates Corp decreased its stake in shares of Hi-Crush Partners LP (NYSE:HCLP) by 5.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 204,683 shares of the basic materials company’s stock after selling 12,652 shares during the period. Van ECK Associates Corp owned approximately 0.20% of Hi-Crush Partners worth $733,000 at the end of the most recent quarter.
Several other hedge funds also recently modified their holdings of HCLP. Wedbush Securities Inc. increased its holdings in Hi-Crush Partners by 77.6% in the 4th quarter. Wedbush Securities Inc. now owns 24,876 shares of the basic materials company’s stock valued at $89,000 after buying an additional 10,866 shares during the period. Virtu Financial LLC bought a new position in Hi-Crush Partners in the 3rd quarter valued at about $2,291,000. Inlet Private Wealth LLC bought a new position in Hi-Crush Partners in the 4th quarter valued at about $309,000. Wells Fargo & Company MN increased its holdings in Hi-Crush Partners by 31.6% in the 3rd quarter. Wells Fargo & Company MN now owns 108,060 shares of the basic materials company’s stock valued at $1,167,000 after buying an additional 25,943 shares during the period. Finally, IPG Investment Advisors LLC bought a new position in Hi-Crush Partners in the 4th quarter valued at about $269,000. 8.49% of the stock is owned by institutional investors.
Shares of NYSE HCLP remained flat at $$4.29 during trading on Friday. 181,060 shares of the stock traded hands, compared to its average volume of 715,991. Hi-Crush Partners LP has a 12-month low of $3.19 and a 12-month high of $16.65. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.48 and a current ratio of 1.85. The company has a market cap of $433.55 million, a price-to-earnings ratio of 2.88 and a beta of 1.95.
A number of equities research analysts have recently weighed in on the stock. R. F. Lafferty set a $10.00 price target on shares of Hi-Crush Partners and gave the company a “buy” rating in a research note on Tuesday, December 4th. Zacks Investment Research upgraded shares of Hi-Crush Partners from a “sell” rating to a “hold” rating in a research report on Monday, December 3rd. UBS Group set a $4.00 target price on shares of Hi-Crush Partners and gave the stock a “hold” rating in a research report on Monday, January 14th. B. Riley reiterated a “neutral” rating and issued a $6.50 price objective (down previously from $10.00) on shares of Hi-Crush Partners in a research note on Tuesday, January 8th. Finally, Credit Suisse Group lowered shares of Hi-Crush Partners from a “neutral” rating to an “underperform” rating and lowered their price objective for the company from $6.00 to $3.00 in a research note on Wednesday, December 19th. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. Hi-Crush Partners has an average rating of “Hold” and an average target price of $10.50.
COPYRIGHT VIOLATION NOTICE: This news story was first published by Ticker Report and is the sole property of of Ticker Report. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of U.S. & international copyright legislation. The original version of this news story can be viewed at https://www.tickerreport.com/banking-finance/4224105/van-eck-associates-corp-lowers-stake-in-hi-crush-partners-lp-hclp.html.
Hi-Crush Partners Company Profile
Hi-Crush Partners LP, together with its subsidiaries, provides proppant and logistics solutions to the energy industry in North America. The company produces monocrystalline sand, a specialized mineral used as a proppant during the well completion process to facilitate the recovery of hydrocarbons from oil and natural gas wells.
Featured Story: Trading Penny Stocks
Want to see what other hedge funds are holding HCLP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Hi-Crush Partners LP (NYSE:HCLP).
Receive News & Ratings for Hi-Crush Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Hi-Crush Partners and related companies with MarketBeat.com's FREE daily email newsletter.