QRG Capital Management Inc. Sells 140,327 Shares of Antero Midstream Corporation $AM

Key Points

• QRG Capital Management Inc. reduced its stake in Antero Midstream Corporation by 55.3%, selling 140,327 shares during the second quarter and now holds 113,239 shares worth approximately $2.15 million.
• Several institutional investors have increased their positions in Antero Midstream, with UMB Bank n.a. raising its stake by 170.8%, which highlights growing interest in the company.
• Analysts have mixed ratings for Antero Midstream, with two major firms increasing their price targets to $19.00, while the stock has an average price target of $18.50 according to research data.

QRG Capital Management Inc. lowered its stake in shares of Antero Midstream Corporation (NYSE:AM - Free Report) by 55.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,239 shares of the pipeline company's stock after selling 140,327 shares during the period. QRG Capital Management Inc.'s holdings in Antero Midstream were worth $2,146,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. Transce3nd LLC bought a new stake in Antero Midstream in the first quarter valued at approximately $29,000. UMB Bank n.a. raised its position in shares of Antero Midstream by 170.8% during the first quarter. UMB Bank n.a. now owns 3,469 shares of the pipeline company's stock worth $62,000 after purchasing an additional 2,188 shares during the period. Brooklyn Investment Group raised its position in shares of Antero Midstream by 41.2% during the first quarter. Brooklyn Investment Group now owns 4,551 shares of the pipeline company's stock worth $82,000 after purchasing an additional 1,328 shares during the period. GAMMA Investing LLC raised its position in shares of Antero Midstream by 34.0% during the first quarter. GAMMA Investing LLC now owns 8,537 shares of the pipeline company's stock worth $154,000 after purchasing an additional 2,165 shares during the period. Finally, CWM LLC increased its stake in Antero Midstream by 7.1% during the 1st quarter. CWM LLC now owns 9,472 shares of the pipeline company's stock worth $170,000 after purchasing an additional 629 shares in the last quarter. Institutional investors and hedge funds own 53.97% of the company's stock.

Insider Activity

In related news, insider Sheri Pearce sold 39,155 shares of the business's stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $17.51, for a total transaction of $685,604.05. Following the transaction, the insider directly owned 106,489 shares in the company, valued at approximately $1,864,622.39. The trade was a 26.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.86% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of Antero Midstream from $17.00 to $19.00 and gave the company an "underweight" rating in a report on Wednesday, August 6th. Wells Fargo & Company boosted their price objective on shares of Antero Midstream from $17.00 to $19.00 and gave the company an "equal weight" rating in a research report on Friday, August 1st. Wall Street Zen raised shares of Antero Midstream from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Zacks Research downgraded Antero Midstream from a "strong-buy" rating to a "hold" rating in a research note on Friday, September 19th. Finally, The Goldman Sachs Group increased their price objective on Antero Midstream from $15.50 to $17.50 and gave the stock a "neutral" rating in a report on Monday, August 18th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, Antero Midstream has an average rating of "Hold" and an average price target of $18.50.

Antero Midstream Stock Up 0.3%

Shares of AM stock opened at $19.13 on Wednesday. The firm has a market capitalization of $9.15 billion, a P/E ratio of 20.13 and a beta of 0.85. The firm's fifty day moving average price is $18.39 and its two-hundred day moving average price is $17.99. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.45. Antero Midstream Corporation has a 1 year low of $14.22 and a 1 year high of $19.82.

Antero Midstream (NYSE:AM - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The pipeline company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. Antero Midstream had a return on equity of 21.67% and a net margin of 39.53%.The company had revenue of $305.47 million during the quarter, compared to analysts' expectations of $292.70 million. During the same quarter last year, the company earned $0.23 EPS. Antero Midstream's revenue for the quarter was up 13.2% compared to the same quarter last year. On average, equities analysts predict that Antero Midstream Corporation will post 0.95 EPS for the current fiscal year.

Antero Midstream Profile

Antero Midstream Corporation owns, operates, and develops midstream energy assets in the Appalachian Basin. It operates in two segments, Gathering and Processing, and Water Handling. The Gathering and Processing segment includes a network of gathering pipelines and compressor stations that collects and processes production from Antero Resources' wells in West Virginia and Ohio.

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