Victory Capital Management Inc. Sells 296,649 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Victory Capital Management Inc. cut its stake in Atlas Energy Solutions Inc. (NYSE:AESI) by 18.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,325,592 shares of the company’s stock after selling 296,649 shares during the period. Victory Capital Management Inc.’s holdings in Atlas Energy Solutions were worth $28,898,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. First Horizon Advisors Inc. boosted its holdings in Atlas Energy Solutions by 313.7% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock valued at $34,000 after purchasing an additional 1,308 shares during the period. Amalgamated Bank raised its stake in shares of Atlas Energy Solutions by 328.1% in the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock valued at $47,000 after buying an additional 1,801 shares in the last quarter. CWM LLC raised its stake in shares of Atlas Energy Solutions by 47.1% in the 3rd quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after buying an additional 886 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of Atlas Energy Solutions in the 1st quarter valued at $78,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Atlas Energy Solutions in the 2nd quarter valued at $74,000. 34.59% of the stock is owned by institutional investors.

Insider Transactions at Atlas Energy Solutions

In other news, major shareholder Stacy Hock sold 8,571 shares of Atlas Energy Solutions stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $19.44, for a total transaction of $166,620.24. Following the sale, the insider now directly owns 943,317 shares in the company, valued at $18,338,082.48. The trade was a 0.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Gregory M. Shepard bought 1,797 shares of the stock in a transaction dated Friday, October 18th. The shares were acquired at an average price of $19.65 per share, for a total transaction of $35,311.05. Following the completion of the purchase, the insider now directly owns 7,507,194 shares in the company, valued at approximately $147,516,362.10. This trade represents a 0.02 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 60,869 shares of company stock valued at $1,187,983 and sold 65,713 shares valued at $1,374,831. Insiders own 24.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Pickering Energy Partners cut shares of Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Benchmark reiterated a “buy” rating and set a $27.00 target price on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Barclays cut shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $23.00 to $19.00 in a research report on Tuesday, November 12th. Stephens reiterated an “overweight” rating and set a $28.00 target price on shares of Atlas Energy Solutions in a research report on Tuesday, August 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $25.00 target price on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.44.

Atlas Energy Solutions Stock Down 1.5 %

Atlas Energy Solutions stock opened at $19.95 on Monday. The company’s 50 day simple moving average is $20.94 and its 200 day simple moving average is $21.06. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 25.25, a PEG ratio of 11.03 and a beta of 0.69. Atlas Energy Solutions Inc. has a fifty-two week low of $15.55 and a fifty-two week high of $24.93.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.25). Atlas Energy Solutions had a net margin of 8.78% and a return on equity of 11.01%. The company had revenue of $304.40 million during the quarter, compared to the consensus estimate of $307.93 million. During the same period in the previous year, the company earned $0.51 earnings per share. Atlas Energy Solutions’s revenue for the quarter was up 93.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Atlas Energy Solutions Inc. will post 0.8 EPS for the current year.

Atlas Energy Solutions Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Thursday, November 7th were given a dividend of $0.24 per share. This is an increase from Atlas Energy Solutions’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, November 7th. This represents a $0.96 annualized dividend and a dividend yield of 4.81%. Atlas Energy Solutions’s dividend payout ratio (DPR) is 121.52%.

About Atlas Energy Solutions

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.