Assenagon Asset Management S.A. Purchases Shares of 1,304,055 ProPetro Holding Corp. $PUMP

Key Points

• Assenagon Asset Management acquired 1.30 million ProPetro shares worth approximately $18.7 million, giving it a 1.06% stake. Institutional investors collectively own 84.70% of PUMP.
• ProPetro insiders recently sold shares: COO Adam Munoz sold 70,696 shares and Director G. Larry Lawrence sold 35,831 shares, reducing their holdings by 32.22% and 55.98%, respectively.
• The company missed quarterly earnings expectations, reporting a loss of $0.07 per share versus the $0.01 expected, while revenue fell 6.3% year over year. Analysts maintain a “Moderate Buy” consensus with an average price target of $16.50.

Assenagon Asset Management S.A. acquired a new stake in ProPetro Holding Corp. (NYSE:PUMP - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 1,304,055 shares of the company's stock, valued at approximately $18,700,000. Assenagon Asset Management S.A. owned about 1.06% of ProPetro at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of PUMP. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in ProPetro by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,534 shares of the company's stock valued at $379,000 after purchasing an additional 2,230 shares during the last quarter. Millennium Management LLC increased its holdings in shares of ProPetro by 44.6% in the first quarter. Millennium Management LLC now owns 735,731 shares of the company's stock valued at $5,408,000 after purchasing an additional 226,914 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of ProPetro by 16,264.8% in the first quarter. Jones Financial Companies Lllp now owns 27,002 shares of the company's stock valued at $198,000 after purchasing an additional 26,837 shares during the last quarter. Goldman Sachs Group Inc. increased its position in ProPetro by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 609,935 shares of the company's stock worth $4,483,000 after buying an additional 21,519 shares during the period. Finally, Caxton Associates LLP acquired a new stake in ProPetro in the 1st quarter worth about $272,000. Institutional investors own 84.70% of the company's stock.

Insider Buying and Selling at ProPetro

In other news, COO Adam Munoz sold 70,696 shares of the business's stock in a transaction dated Tuesday, August 4th. The stock was sold at an average price of $11.17, for a total value of $789,674.32. Following the completion of the sale, the chief operating officer owned 148,691 shares of the company's stock, valued at approximately $1,660,878.47. The trade was a 32.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director G Larry Lawrence sold 35,831 shares of the business's stock in a transaction dated Tuesday, August 4th. The shares were sold at an average price of $11.16, for a total transaction of $399,873.96. Following the completion of the transaction, the director owned 28,181 shares in the company, valued at $314,499.96. The trade was a 55.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 1.55% of the company's stock.

ProPetro Stock Down 0.0%

PUMP stock opened at $10.97 on Monday. ProPetro Holding Corp. has a twelve month low of $4.51 and a twelve month high of $18.50. The company has a quick ratio of 4.00, a current ratio of 4.09 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $1.35 billion, a PE ratio of -99.77 and a beta of 0.77. The stock has a 50-day simple moving average of $13.41 and a two-hundred day simple moving average of $13.72.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group reiterated a "neutral" rating and issued a $16.00 price target on shares of ProPetro in a research note on Wednesday, June 3rd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of ProPetro in a research note on Friday, July 31st. Odeon Capital Group initiated coverage on shares of ProPetro in a research note on Thursday, May 28th. They set a "buy" rating for the company. Stifel Nicolaus lowered their price objective on shares of ProPetro from $23.00 to $20.00 and set a "buy" rating for the company in a research note on Monday, August 3rd. Finally, Barclays cut their price target on ProPetro from $23.00 to $18.00 and set an "overweight" rating on the stock in a report on Wednesday. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $16.50.

ProPetro Profile

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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