Cinctive Capital Management LP Grows Stock Holdings in Antero Midstream Corporation $AM

Key Points

• Cinctive Capital Management LP boosted its Antero Midstream stake by 235.9% in the fourth quarter, ending with 333,639 shares worth about $5.9 million.
• Several other institutional investors also increased holdings, and hedge funds and institutions now own 53.97% of the company’s shares.
• Insiders were active as well: Michael N. Kennedy and Yvette K. Schultz both sold shares, while Antero Midstream reported quarterly EPS of $0.25, just below estimates, and maintained a 4.2% dividend yield.

Cinctive Capital Management LP raised its position in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 235.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 333,639 shares of the pipeline company's stock after purchasing an additional 234,320 shares during the period. Cinctive Capital Management LP owned approximately 0.07% of Antero Midstream worth $5,935,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Corigliano Investment Advisers LLC purchased a new stake in Antero Midstream during the fourth quarter valued at about $5,017,000. Aristeia Capital L.L.C. purchased a new stake in Antero Midstream during the fourth quarter valued at about $430,000. Guggenheim Capital LLC raised its position in Antero Midstream by 7.7% during the fourth quarter. Guggenheim Capital LLC now owns 223,846 shares of the pipeline company's stock valued at $3,982,000 after purchasing an additional 15,946 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Antero Midstream by 7.8% in the fourth quarter. Cetera Investment Advisers now owns 789,264 shares of the pipeline company's stock worth $14,041,000 after buying an additional 57,314 shares during the period. Finally, Amundi increased its holdings in shares of Antero Midstream by 22.1% in the fourth quarter. Amundi now owns 802,220 shares of the pipeline company's stock worth $14,271,000 after buying an additional 145,264 shares during the period. Hedge funds and other institutional investors own 53.97% of the company's stock.

Insider Buying and Selling

In other Antero Midstream news, insider Michael N. Kennedy sold 100,000 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.92, for a total transaction of $2,192,000.00. Following the transaction, the insider owned 1,500,594 shares in the company, valued at approximately $32,893,020.48. This represents a 6.25% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Yvette K. Schultz sold 69,269 shares of the company's stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $21.90, for a total value of $1,516,991.10. Following the transaction, the insider owned 580,565 shares in the company, valued at $12,714,373.50. This trade represents a 10.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.10% of the stock is currently owned by corporate insiders.

Antero Midstream Stock Down 0.3%

Shares of NYSE:AM opened at $21.40 on Thursday. Antero Midstream Corporation has a 1 year low of $16.77 and a 1 year high of $23.83. The company has a market cap of $10.16 billion, a PE ratio of 24.88 and a beta of 0.66. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.99 and a quick ratio of 0.99. The stock's 50-day moving average is $21.56 and its 200 day moving average is $20.54.

Antero Midstream (NYSE:AM - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The pipeline company reported $0.25 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.26 by ($0.01). Antero Midstream had a net margin of 33.90% and a return on equity of 20.38%. The business had revenue of $314.21 million for the quarter, compared to analysts' expectations of $311.30 million. During the same quarter in the prior year, the firm earned $0.25 EPS. The firm's revenue for the quarter was up 7.9% on a year-over-year basis. Sell-side analysts anticipate that Antero Midstream Corporation will post 1.12 EPS for the current year.

Antero Midstream Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 13th. Shareholders of record on Wednesday, April 29th were issued a dividend of $0.225 per share. The ex-dividend date was Wednesday, April 29th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 4.2%. Antero Midstream's dividend payout ratio is 104.65%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. UBS Group increased their target price on Antero Midstream from $22.00 to $24.00 and gave the company a "neutral" rating in a report on Wednesday, March 25th. Weiss Ratings restated a "buy (a-)" rating on shares of Antero Midstream in a research report on Wednesday, June 3rd. The Goldman Sachs Group raised their price target on Antero Midstream from $18.00 to $23.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 24th. Morgan Stanley upgraded Antero Midstream from an "underweight" rating to an "equal weight" rating and set a $26.00 price target on the stock in a research report on Wednesday, April 22nd. Finally, Wells Fargo & Company raised their price target on Antero Midstream from $21.00 to $23.00 and gave the stock an "equal weight" rating in a research report on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $24.00.

Antero Midstream Profile

Antero Midstream Corporation is a publicly traded midstream service provider that was established in 2014 as a spin-off from Antero Resources. Headquartered in Denver, Colorado, the company owns, operates and develops midstream infrastructure to support the gathering, compression, processing, transportation and storage of natural gas, natural gas liquids (NGLs) and crude oil. Antero Midstream plays a critical role in connecting upstream production in the Appalachian Basin to end-market pipelines and processing facilities.

The company's core operations include a network of gathering pipelines and compression stations that serve the Marcellus and Utica shale formations across West Virginia, Pennsylvania and Ohio.

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