Emerald Mutual Fund Advisers Trust Sells 2,856 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Emerald Mutual Fund Advisers Trust cut its holdings in Atlas Energy Solutions Inc. (NYSE:AESI) by 4.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 59,442 shares of the company’s stock after selling 2,856 shares during the period. Emerald Mutual Fund Advisers Trust owned 0.06% of Atlas Energy Solutions worth $1,296,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. lifted its stake in shares of Atlas Energy Solutions by 313.7% in the second quarter. First Horizon Advisors Inc. now owns 1,725 shares of the company’s stock valued at $34,000 after buying an additional 1,308 shares during the period. Amalgamated Bank grew its holdings in shares of Atlas Energy Solutions by 328.1% during the 2nd quarter. Amalgamated Bank now owns 2,350 shares of the company’s stock worth $47,000 after purchasing an additional 1,801 shares in the last quarter. CWM LLC increased its position in shares of Atlas Energy Solutions by 47.1% during the third quarter. CWM LLC now owns 2,766 shares of the company’s stock valued at $60,000 after purchasing an additional 886 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Atlas Energy Solutions in the second quarter valued at $74,000. Finally, DekaBank Deutsche Girozentrale bought a new position in Atlas Energy Solutions in the first quarter worth $78,000. Institutional investors own 34.59% of the company’s stock.

Atlas Energy Solutions Stock Performance

Shares of NYSE:AESI opened at $19.16 on Monday. The firm’s 50 day simple moving average is $20.95 and its 200 day simple moving average is $21.19. Atlas Energy Solutions Inc. has a fifty-two week low of $15.55 and a fifty-two week high of $24.93. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 24.25, a P/E/G ratio of 10.82 and a beta of 0.70. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.35.

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

Atlas Energy Solutions Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Thursday, November 7th will be given a $0.24 dividend. The ex-dividend date is Thursday, November 7th. This is a positive change from Atlas Energy Solutions’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 5.01%. Atlas Energy Solutions’s payout ratio is currently 116.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. The Goldman Sachs Group dropped their price objective on shares of Atlas Energy Solutions from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, August 29th. Bank of America cut their price target on shares of Atlas Energy Solutions from $25.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Stephens reiterated an “overweight” rating and issued a $28.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, August 6th. Royal Bank of Canada restated an “outperform” rating and set a $25.00 target price on shares of Atlas Energy Solutions in a research report on Wednesday, October 30th. Finally, Pickering Energy Partners lowered Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $25.75.

Insider Buying and Selling

In other Atlas Energy Solutions news, major shareholder Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $21.02, for a total value of $210,200.00. Following the transaction, the insider now owns 532,010 shares of the company’s stock, valued at approximately $11,182,850.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, major shareholder Gregory M. Shepard acquired 23,300 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was acquired at an average cost of $19.55 per share, for a total transaction of $455,515.00. Following the completion of the acquisition, the insider now owns 7,540,306 shares in the company, valued at $147,412,982.30. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Brian Anthony Leveille sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $21.02, for a total value of $210,200.00. Following the completion of the sale, the insider now owns 532,010 shares in the company, valued at $11,182,850.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders acquired 33,159 shares of company stock valued at $650,776 and sold 45,713 shares valued at $939,317. 24.34% of the stock is owned by company insiders.

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.