Quantbot Technologies LP Takes $1.61 Million Position in BKV Corporation $BKV

Key Points

• Quantbot Technologies LP has acquired a new position in BKV Corporation by purchasing 76,444 shares valued at approximately $1.6 million, representing 0.09% ownership of the company.
• Recent hedge fund activity includes Geode Capital Management LLC and Driehaus Capital Management LLC making significant purchases, with Geode investing $7.7 million and Driehaus investing $9.5 million in BKV.
• BKV Corporation reported earnings of $0.39 per share, exceeding analysts' estimates, alongside revenue of $322.04 million, indicating strong financial performance.

Quantbot Technologies LP purchased a new position in shares of BKV Corporation (NYSE:BKV - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 76,444 shares of the company's stock, valued at approximately $1,605,000. Quantbot Technologies LP owned approximately 0.09% of BKV as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BKV. Geode Capital Management LLC purchased a new position in BKV during the fourth quarter worth about $7,728,000. Driehaus Capital Management LLC purchased a new position in BKV in the fourth quarter valued at about $9,553,000. California State Teachers Retirement System purchased a new position in BKV in the fourth quarter valued at about $26,000. Finally, Bank of New York Mellon Corp increased its holdings in BKV by 21.2% in the first quarter. Bank of New York Mellon Corp now owns 35,453 shares of the company's stock valued at $745,000 after buying an additional 6,209 shares in the last quarter.

Insiders Place Their Bets

In other news, insider Ethan Ngo sold 64,998 shares of the firm's stock in a transaction on Thursday, June 12th. The shares were sold at an average price of $23.00, for a total value of $1,494,954.00. Following the transaction, the insider owned 112,675 shares of the company's stock, valued at approximately $2,591,525. This trade represents a 36.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Lindsay B. Larrick sold 10,000 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $21.62, for a total transaction of $216,200.00. Following the completion of the transaction, the insider directly owned 200,528 shares in the company, valued at approximately $4,335,415.36. This represents a 4.75% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,098 shares of company stock worth $2,161,324. 4.11% of the stock is owned by company insiders.

BKV Trading Up 0.3%

Shares of BKV traded up $0.06 during mid-day trading on Thursday, reaching $22.95. The company had a trading volume of 29,588 shares, compared to its average volume of 411,705. The stock has a market cap of $1.94 billion and a price-to-earnings ratio of -114.75. The firm has a fifty day simple moving average of $21.91 and a 200-day simple moving average of $21.02. BKV Corporation has a fifty-two week low of $15.00 and a fifty-two week high of $26.78. The company has a current ratio of 0.56, a quick ratio of 0.52 and a debt-to-equity ratio of 0.13.

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

Analyst Ratings Changes

A number of brokerages have issued reports on BKV. Barclays increased their target price on shares of BKV from $29.00 to $30.00 and gave the company an "overweight" rating in a report on Monday, July 7th. Evercore ISI increased their target price on shares of BKV from $20.00 to $26.00 and gave the company an "outperform" rating in a report on Friday, May 30th. Eight analysts have rated the stock with a Buy rating, Based on data from MarketBeat, BKV presently has an average rating of "Buy" and an average target price of $28.25.

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.