1,416,763 Shares in ProPetro Holding Corp. $PUMP Bought by Alyeska Investment Group L.P.

Key Points

• Alyeska Investment Group bought 1.42 million shares of ProPetro, worth approximately $20.3 million, giving it a 1.15% stake. Institutional investors collectively own 84.7% of the company.
• ProPetro insiders recently sold shares: COO Adam Munoz sold 70,696 shares and Director G. Larry Lawrence sold 35,831 shares. Insiders now own 1.55% of the stock.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and a $16.12 price target. The company recently missed quarterly earnings expectations, reporting a $0.07-per-share loss despite revenue of $305.8 million.

Alyeska Investment Group L.P. purchased a new stake in ProPetro Holding Corp. (NYSE:PUMP - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,416,763 shares of the company's stock, valued at approximately $20,316,000. Alyeska Investment Group L.P. owned 1.15% of ProPetro at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PUMP. BlackRock Inc. acquired a new position in ProPetro in the second quarter valued at about $130,574,000. Valiant Capital Management L.P. acquired a new position in ProPetro in the fourth quarter worth $34,890,000. Sourcerock Group LLC grew its holdings in shares of ProPetro by 66.4% during the second quarter. Sourcerock Group LLC now owns 8,408,391 shares of the company's stock worth $50,198,000 after purchasing an additional 3,355,848 shares during the last quarter. Cooper Creek Partners Management LLC acquired a new position in ProPetro during the 1st quarter worth $42,748,000. Finally, VR Advisory Services Ltd lifted its holdings in ProPetro by 213.2% during the 3rd quarter. VR Advisory Services Ltd now owns 3,679,359 shares of the company's stock worth $19,280,000 after buying an additional 2,504,634 shares in the last quarter. 84.70% of the stock is owned by institutional investors.

Insider Activity at ProPetro

In other news, COO Adam Munoz sold 70,696 shares of the company's stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $11.17, for a total value of $789,674.32. Following the completion of the transaction, the chief operating officer owned 148,691 shares in the company, valued at $1,660,878.47. This represents a 32.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director G Larry Lawrence sold 35,831 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $11.16, for a total transaction of $399,873.96. Following the sale, the director directly owned 28,181 shares of the company's stock, valued at $314,499.96. This represents a 55.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.55% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Odeon Capital Group started coverage on shares of ProPetro in a report on Thursday, May 28th. They issued a "buy" rating on the stock. Citigroup lowered their target price on shares of ProPetro from $20.00 to $16.00 and set a "buy" rating for the company in a report on Monday, August 3rd. Piper Sandler dropped their target price on shares of ProPetro from $18.00 to $15.00 and set an "overweight" rating for the company in a research report on Thursday. Weiss Ratings reissued a "sell (d-)" rating on shares of ProPetro in a research note on Friday, July 31st. Finally, Wall Street Zen lowered ProPetro from a "hold" rating to a "sell" rating in a research note on Saturday. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $16.12.

ProPetro Price Performance

PUMP opened at $11.36 on Tuesday. The company has a quick ratio of 4.00, a current ratio of 4.09 and a debt-to-equity ratio of 0.80. ProPetro Holding Corp. has a 12 month low of $4.52 and a 12 month high of $18.50. The company has a fifty day simple moving average of $12.21 and a 200 day simple moving average of $13.76. The stock has a market cap of $1.40 billion, a P/E ratio of -103.27 and a beta of 0.77.

ProPetro (NYSE:PUMP - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.06). The business had revenue of $305.81 million for the quarter, compared to the consensus estimate of $304.48 million. ProPetro had a negative return on equity of 1.49% and a negative net margin of 1.15%.The business's revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. On average, research analysts expect that ProPetro Holding Corp. will post -0.09 EPS for the current year.

About ProPetro

ProPetro Holding Corp is a publicly traded oilfield services company that specializes in hydraulic fracturing and well completion solutions for exploration and production operators. Headquartered in Midland, Texas, the company delivers a comprehensive suite of pressure pumping services designed to optimize reservoir stimulation and enhance hydrocarbon recovery. Its integrated approach encompasses well design, proppant selection, fluid systems and pressure management to support clients' development targets across unconventional plays.

The company's core offerings include high-pressure fracturing, coiled tubing, cementing, acidizing and flowback services, all supported by in-house logistics and digital monitoring tools.

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