Silvercrest Asset Management Group LLC Purchases 83,843 Shares of Atlas Energy Solutions Inc. (NYSE:AESI)

Silvercrest Asset Management Group LLC raised its position in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 40.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 290,319 shares of the company's stock after purchasing an additional 83,843 shares during the period. Silvercrest Asset Management Group LLC owned approximately 0.26% of Atlas Energy Solutions worth $6,439,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Barclays PLC increased its stake in shares of Atlas Energy Solutions by 574.5% in the 3rd quarter. Barclays PLC now owns 175,082 shares of the company's stock valued at $3,817,000 after purchasing an additional 149,126 shares during the last quarter. DAVENPORT & Co LLC boosted its stake in Atlas Energy Solutions by 29.0% in the fourth quarter. DAVENPORT & Co LLC now owns 45,800 shares of the company's stock valued at $1,016,000 after buying an additional 10,300 shares in the last quarter. Copeland Capital Management LLC grew its position in Atlas Energy Solutions by 19.3% in the fourth quarter. Copeland Capital Management LLC now owns 2,247,774 shares of the company's stock valued at $49,856,000 after acquiring an additional 363,742 shares during the last quarter. Hodges Capital Management Inc. raised its stake in Atlas Energy Solutions by 44.7% during the fourth quarter. Hodges Capital Management Inc. now owns 194,000 shares of the company's stock worth $4,302,000 after acquiring an additional 59,940 shares in the last quarter. Finally, Yousif Capital Management LLC bought a new position in shares of Atlas Energy Solutions in the fourth quarter worth about $509,000. 34.59% of the stock is currently owned by institutional investors.

Atlas Energy Solutions Price Performance

Atlas Energy Solutions stock opened at $13.47 on Monday. The stock's 50 day moving average is $15.06 and its 200 day moving average is $19.49. Atlas Energy Solutions Inc. has a one year low of $11.76 and a one year high of $26.86. The firm has a market cap of $1.64 billion, a P/E ratio of 17.05 and a beta of 1.34. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.23 and a quick ratio of 1.08.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last released its quarterly earnings results on Monday, May 5th. The company reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.10). Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The firm had revenue of $297.59 million for the quarter, compared to the consensus estimate of $291.13 million. During the same quarter in the previous year, the business posted $0.26 EPS. The firm's revenue for the quarter was up 54.5% compared to the same quarter last year. As a group, research analysts expect that Atlas Energy Solutions Inc. will post 0.83 EPS for the current year.

Atlas Energy Solutions Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 22nd. Investors of record on Thursday, May 15th will be issued a $0.25 dividend. The ex-dividend date is Thursday, May 15th. This represents a $1.00 annualized dividend and a yield of 7.42%. Atlas Energy Solutions's payout ratio is 322.58%.

Analyst Ratings Changes

AESI has been the subject of a number of research analyst reports. Barclays lowered their price objective on shares of Atlas Energy Solutions from $23.00 to $19.00 and set an "equal weight" rating for the company in a research report on Monday, March 3rd. The Goldman Sachs Group lowered their price target on shares of Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating for the company in a report on Thursday, April 10th. Citigroup reduced their price objective on Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Benchmark lowered their target price on Atlas Energy Solutions from $28.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Finally, Piper Sandler cut their price target on Atlas Energy Solutions from $22.00 to $17.00 and set an "overweight" rating on the stock in a research note on Thursday, May 8th. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Atlas Energy Solutions currently has a consensus rating of "Moderate Buy" and an average price target of $19.81.

Insider Activity at Atlas Energy Solutions

In other Atlas Energy Solutions news, major shareholder Gregory M. Shepard purchased 32,155 shares of the company's stock in a transaction on Thursday, February 27th. The shares were purchased at an average cost of $19.04 per share, with a total value of $612,231.20. Following the completion of the purchase, the insider now owns 7,651,210 shares in the company, valued at $145,679,038.40. This represents a 0.42% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Douglas G. Rogers purchased 7,000 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were acquired at an average price of $13.27 per share, for a total transaction of $92,890.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $132,700. This represents a 233.33% increase in their position. The disclosure for this purchase can be found here. Insiders have bought a total of 48,790 shares of company stock worth $834,038 over the last quarter. Company insiders own 15.98% of the company's stock.

Atlas Energy Solutions Company Profile

Atlas Energy Solutions Inc engages in the production, processing, and sale of mesh and sand that are used as a proppant during the well completion process in the Permian Basin of Texas and New Mexico. The company provides transportation and logistics, storage solutions, and contract labor services. It sells its products and services to oil and natural gas exploration and production companies, and oilfield services companies.

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