Jump Financial LLC Makes New Investment in Select Water Solutions, Inc. $WTTR

Key Points

• Jump Financial LLC acquired a stake of 154,349 shares in Select Water Solutions, Inc. ($WTTR), valued at approximately $1.62 million, during the first quarter.
• Select Water Solutions has received mixed analyst ratings, with Piper Sandler giving it an "overweight" rating and a target price of $15, while other firms adjusted lower targets between $14 and $16.
• The company reported a quarterly earnings miss, posting $0.10 earnings per share against a consensus estimate of $0.13, while its revenue showed a slight decline of 0.3% year-over-year.

Jump Financial LLC purchased a new stake in shares of Select Water Solutions, Inc. (NYSE:WTTR - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 154,349 shares of the company's stock, valued at approximately $1,621,000. Jump Financial LLC owned approximately 0.13% of Select Water Solutions as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in WTTR. Cambridge Investment Research Advisors Inc. acquired a new position in shares of Select Water Solutions during the 1st quarter valued at $123,000. Wealth Enhancement Advisory Services LLC purchased a new position in Select Water Solutions in the fourth quarter valued at about $154,000. GAMMA Investing LLC lifted its stake in shares of Select Water Solutions by 766.8% during the first quarter. GAMMA Investing LLC now owns 36,015 shares of the company's stock worth $378,000 after purchasing an additional 31,860 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Select Water Solutions by 57.6% in the first quarter. New York State Common Retirement Fund now owns 664,868 shares of the company's stock worth $6,981,000 after buying an additional 243,114 shares during the period. Finally, M&T Bank Corp purchased a new stake in shares of Select Water Solutions in the first quarter worth about $244,000. Institutional investors and hedge funds own 81.73% of the company's stock.

Select Water Solutions Stock Performance

WTTR traded down $0.14 during trading hours on Tuesday, hitting $8.39. 744,331 shares of the stock were exchanged, compared to its average volume of 955,176. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 27.05 and a beta of 1.26. The stock has a 50-day simple moving average of $8.90 and a 200-day simple moving average of $9.21. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.01 and a quick ratio of 1.82. Select Water Solutions, Inc. has a 12 month low of $7.20 and a 12 month high of $15.14.

Select Water Solutions (NYSE:WTTR - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.13 by ($0.03). Select Water Solutions had a return on equity of 3.69% and a net margin of 2.26%.The business had revenue of $364.22 million for the quarter, compared to analyst estimates of $362.93 million. During the same period last year, the company posted $0.13 earnings per share. The firm's revenue for the quarter was down .3% on a year-over-year basis. Analysts anticipate that Select Water Solutions, Inc. will post 0.91 earnings per share for the current year.

Select Water Solutions Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were paid a dividend of $0.07 per share. The ex-dividend date was Tuesday, August 5th. This represents a $0.28 annualized dividend and a yield of 3.3%. Select Water Solutions's dividend payout ratio is 90.32%.

Analyst Ratings Changes

Several equities research analysts recently commented on WTTR shares. Citigroup dropped their target price on Select Water Solutions from $18.00 to $14.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Raymond James Financial dropped their price objective on shares of Select Water Solutions from $19.00 to $16.00 and set a "strong-buy" rating on the stock in a research note on Friday, May 9th. Finally, Piper Sandler started coverage on shares of Select Water Solutions in a research note on Tuesday, July 15th. They issued an "overweight" rating and a $15.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $15.00.

Select Water Solutions Company Profile

Select Water Solutions, Inc, together with its subsidiaries, provides water management and chemical solutions to the energy industry in the United States. The company operates through three segments: Water Services, Water Infrastructure, and Chemical Technologies. The Water Services segment provides water-related services, including water sourcing, water transfer, flowback and well testing, water containment, fluids hauling, water monitoring, and water network automation; technology solutions comprising hydrographic mapping, water volume and quality monitoring, remote pit and tank monitoring, leak detection, asset and fuel tracking, and automated-equipment services, as well as various surface rental equipment and workforce accommodation services.