Ghisallo Capital Management LLC Acquires New Shares in Flowco Holdings Inc. $FLOC

Key Points

• Ghisallo Capital Management LLC has acquired a new stake in Flowco Holdings Inc. by purchasing 140,000 shares valued at approximately $3.59 million.
• Flowco recently reported earnings of $1.26 per share, significantly outperforming the consensus estimate of $0.32, with revenues of $193.21 million for the quarter.
• The company has approved a share buyback plan of up to $50 million, indicating management's belief that its shares are undervalued.

Ghisallo Capital Management LLC purchased a new position in Flowco Holdings Inc. (NYSE:FLOC - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 140,000 shares of the company's stock, valued at approximately $3,591,000. Ghisallo Capital Management LLC owned approximately 0.15% of Flowco as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. American Century Companies Inc. acquired a new stake in Flowco during the first quarter valued at approximately $50,586,000. Vanguard Group Inc. acquired a new stake in shares of Flowco during the 1st quarter worth approximately $45,022,000. T. Rowe Price Investment Management Inc. bought a new stake in shares of Flowco in the 1st quarter worth approximately $14,108,000. Phoenix Financial Ltd. acquired a new position in Flowco during the 1st quarter valued at approximately $10,333,000. Finally, Federated Hermes Inc. bought a new position in Flowco during the 1st quarter worth $9,485,000.

Flowco Trading Down 0.4%

Shares of FLOC traded down $0.06 during mid-day trading on Wednesday, reaching $16.08. The company's stock had a trading volume of 382,747 shares, compared to its average volume of 370,830. The business has a fifty day moving average of $17.42 and a 200 day moving average of $19.80. Flowco Holdings Inc. has a 1 year low of $14.89 and a 1 year high of $30.50. The company has a debt-to-equity ratio of 1.19, a current ratio of 3.25 and a quick ratio of 1.57.

Flowco (NYSE:FLOC - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $1.26 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.94. The company had revenue of $193.21 million for the quarter, compared to the consensus estimate of $190.16 million. Sell-side analysts predict that Flowco Holdings Inc. will post 1.54 EPS for the current fiscal year.

Flowco announced that its board has approved a share buyback program on Thursday, June 12th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the company to repurchase up to 3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Flowco Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 2.0%. The ex-dividend date was Friday, August 15th. Flowco's dividend payout ratio is currently 17.39%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FLOC. Evercore ISI decreased their price objective on Flowco from $28.00 to $26.00 and set an "outperform" rating for the company in a report on Wednesday, August 6th. Zacks Research raised Flowco from a "strong sell" rating to a "hold" rating in a report on Thursday, August 14th. Piper Sandler decreased their price target on Flowco from $33.00 to $28.00 and set an "overweight" rating for the company in a research note on Wednesday, August 6th. Finally, Jefferies Financial Group set a $28.00 price objective on Flowco and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $29.40.

Flowco Company Profile

We are a leading provider of production optimization, artificial lift and methane abatement solutions for the oil and natural gas industry. Our products and services include a full range of equipment and technology solutions that enable our customers to efficiently and cost-effectively maximize the profitability and economic lifespan of the production phase of their operations.