Mackay Shields LLC Sells 22,364 Shares of Gulfport Energy Corporation $GPOR

Key Points

• Mackay Shields LLC trimmed its position in Gulfport Energy (GPOR) by 17.1%, selling 22,364 shares and ending the quarter with 108,592 shares worth about $22.59 million (0.56% ownership).
• Insiders have been net sellers: Silver Point Capital sold 759,740 shares for roughly $155.15 million, and insiders disposed of 876,258 shares totaling about $179.14 million over the last quarter, leaving insiders with ~0.62% ownership.
• Gulfport reported quarterly EPS of $5.60 (missing by $0.01) and revenue of $398.2 million (above estimates); the stock trades at a market cap of ~$3.38 billion with a P/E of 9.22 and a consensus analyst rating of Moderate Buy (average target $230).

Mackay Shields LLC trimmed its position in shares of Gulfport Energy Corporation (NYSE:GPOR - Free Report) by 17.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,592 shares of the company's stock after selling 22,364 shares during the quarter. Mackay Shields LLC owned 0.56% of Gulfport Energy worth $22,586,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Gulfport Energy by 2.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,552 shares of the company's stock valued at $1,391,000 after buying an additional 181 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in Gulfport Energy by 14.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 95,749 shares of the company's stock valued at $17,631,000 after buying an additional 12,327 shares during the last quarter. Intech Investment Management LLC raised its position in Gulfport Energy by 11.6% in the 1st quarter. Intech Investment Management LLC now owns 6,400 shares of the company's stock valued at $1,178,000 after buying an additional 665 shares during the last quarter. Cetera Investment Advisers raised its position in Gulfport Energy by 16.7% in the 2nd quarter. Cetera Investment Advisers now owns 1,532 shares of the company's stock valued at $308,000 after buying an additional 219 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new stake in Gulfport Energy in the 2nd quarter valued at $400,000.

Insiders Place Their Bets

In other Gulfport Energy news, Director Silver Point Capital L.P. sold 759,740 shares of the firm's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $204.22, for a total value of $155,154,102.80. Following the completion of the transaction, the director owned 2,690,145 shares in the company, valued at $549,381,411.90. This trade represents a 22.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Timothy J. Cutt sold 5,000 shares of the firm's stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $208.73, for a total value of $1,043,650.00. Following the completion of the transaction, the director owned 26,255 shares of the company's stock, valued at approximately $5,480,206.15. This represents a 16.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 876,258 shares of company stock worth $179,141,707 over the last quarter. Insiders own 0.62% of the company's stock.

Gulfport Energy Trading Down 0.7%

Shares of GPOR opened at $187.40 on Friday. The business has a 50-day moving average of $201.56 and a 200 day moving average of $199.35. Gulfport Energy Corporation has a fifty-two week low of $160.95 and a fifty-two week high of $225.78. The firm has a market cap of $3.38 billion, a P/E ratio of 9.22 and a beta of 0.59. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.68 and a current ratio of 0.68.

Gulfport Energy (NYSE:GPOR - Get Free Report) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $5.60 earnings per share for the quarter, missing the consensus estimate of $5.61 by ($0.01). Gulfport Energy had a return on equity of 21.85% and a net margin of 30.01%.The firm had revenue of $398.19 million during the quarter, compared to analysts' expectations of $373.24 million. As a group, research analysts forecast that Gulfport Energy Corporation will post 25.68 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on GPOR. TD Cowen raised Gulfport Energy to a "strong-buy" rating in a research report on Monday, February 9th. Truist Financial began coverage on Gulfport Energy in a research report on Tuesday, March 24th. They issued a "hold" rating and a $230.00 price target for the company. Wolfe Research lowered Gulfport Energy from an "outperform" rating to a "peer perform" rating in a research report on Monday, January 5th. UBS Group lowered their price target on Gulfport Energy from $260.00 to $245.00 and set a "buy" rating for the company in a research report on Thursday, April 16th. Finally, Wall Street Zen lowered Gulfport Energy from a "buy" rating to a "hold" rating in a research report on Saturday, February 28th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $230.00.

Gulfport Energy Profile

Gulfport Energy Corporation is an independent oil and gas exploration and production company based in Oklahoma City, Oklahoma. The company focuses on the development of onshore natural gas, natural gas liquids (NGLs) and crude oil properties in the United States. Gulfport utilizes horizontal drilling and multi-stage hydraulic fracturing techniques to maximize production and enhance recovery from its resource plays.

The company's primary operations are concentrated in two major U.S. resource basins.

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