Driehaus Capital Management LLC Sells 70,641 Shares of BKV Corporation $BKV

Key Points

• Driehaus Capital Management LLC reduced its stake in BKV Corporation by 17.6%, selling 70,641 shares and owning a total of 331,087 shares, valued at approximately $6.95 million.
• Research analysts have increased their price targets for BKV, with Evercore ISI raising theirs from $20 to $26 and Barclays lifting it from $29 to $30, indicating a positive outlook for the company.
• Insiders have sold a total of 95,098 shares of BKV stock in recent months, with notable sales including Lindsay B. Larrick and Ethan Ngo reducing their holdings significantly.

Driehaus Capital Management LLC reduced its holdings in BKV Corporation (NYSE:BKV - Free Report) by 17.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 331,087 shares of the company's stock after selling 70,641 shares during the quarter. Driehaus Capital Management LLC owned 0.39% of BKV worth $6,953,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of BKV. California State Teachers Retirement System acquired a new position in shares of BKV in the 4th quarter valued at approximately $26,000. Bank of New York Mellon Corp raised its holdings in BKV by 21.2% during the 1st quarter. Bank of New York Mellon Corp now owns 35,453 shares of the company's stock worth $745,000 after buying an additional 6,209 shares during the period. Finally, Quantbot Technologies LP bought a new position in BKV in the first quarter valued at approximately $1,605,000.

Analyst Ratings Changes

BKV has been the subject of several research reports. Evercore ISI increased their price objective on shares of BKV from $20.00 to $26.00 and gave the stock an "outperform" rating in a research report on Friday, May 30th. Barclays upped their target price on shares of BKV from $29.00 to $30.00 and gave the stock an "overweight" rating in a research note on Monday, July 7th. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $28.25.

BKV Stock Down 1.5%

Shares of BKV traded down $0.33 during mid-day trading on Thursday, hitting $22.24. 97,251 shares of the company's stock were exchanged, compared to its average volume of 408,248. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.56 and a quick ratio of 0.52. BKV Corporation has a 52 week low of $15.00 and a 52 week high of $26.78. The company has a market cap of $1.88 billion and a PE ratio of -111.18. The company has a 50-day simple moving average of $21.82 and a 200 day simple moving average of $20.99.

BKV (NYSE:BKV - Get Free Report) last announced its earnings results on Tuesday, August 12th. The company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.15 by $0.24. BKV had a negative net margin of 2.69% and a positive return on equity of 3.21%. The business had revenue of $322.04 million during the quarter, compared to analysts' expectations of $224.05 million. On average, research analysts forecast that BKV Corporation will post -1.82 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Lindsay B. Larrick sold 10,000 shares of the firm's stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $21.62, for a total value of $216,200.00. Following the completion of the transaction, the insider owned 200,528 shares in the company, valued at $4,335,415.36. This trade represents a 4.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Ethan Ngo sold 64,998 shares of the company's stock in a transaction dated Thursday, June 12th. The stock was sold at an average price of $23.00, for a total value of $1,494,954.00. Following the sale, the insider owned 112,675 shares in the company, valued at $2,591,525. The trade was a 36.58% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 85,098 shares of company stock valued at $1,944,824 in the last 90 days. 4.11% of the stock is owned by corporate insiders.

BKV Company Profile

BKV Corporation engages in the acquisition, operation, and development of natural gas and NGL properties. It is also involved in the gathering, processing, and transportation of natural gas. The company was founded in 2015 and is based in Denver, Colorado with additional offices in Tunkhannock, Pennsylvania and Fort Worth, Texas.