Solaris Energy Infrastructure, Inc. $SEI Shares Purchased by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its stake in Solaris Energy Infrastructure by 89.8% in the first quarter, buying an additional 204,381 shares and bringing its total holding to 431,923 shares worth about $24.4 million.
• Insider selling was significant, with executive and director transactions including Christopher M. Powell and Laurie H. Argo, while insiders sold 4.1 million shares worth nearly $297.8 million over the last quarter.
• Analysts remain generally positive on SEI, with eight Buy ratings and two Hold ratings, and a consensus price target of $81.80 after several firms raised targets in recent reports.

Assenagon Asset Management S.A. grew its position in shares of Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) by 89.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 431,923 shares of the company's stock after purchasing an additional 204,381 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.63% of Solaris Energy Infrastructure worth $24,408,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its position in shares of Solaris Energy Infrastructure by 2,120.7% in the fourth quarter. Principal Financial Group Inc. now owns 1,466,343 shares of the company's stock valued at $67,408,000 after buying an additional 1,400,311 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Solaris Energy Infrastructure by 623.5% during the third quarter. Van ECK Associates Corp now owns 1,295,898 shares of the company's stock valued at $51,797,000 after buying an additional 1,116,794 shares during the period. Advent International L.P. acquired a new stake in Solaris Energy Infrastructure during the third quarter worth approximately $40,246,000. Value Aligned Research Advisors LLC purchased a new stake in Solaris Energy Infrastructure in the 4th quarter worth approximately $44,864,000. Finally, Ceredex Value Advisors LLC acquired a new position in Solaris Energy Infrastructure in the 3rd quarter valued at $35,050,000. 67.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Solaris Energy Infrastructure

In related news, insider Christopher M. Powell sold 36,852 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $74.63, for a total value of $2,750,264.76. Following the sale, the insider owned 114,117 shares of the company's stock, valued at $8,516,551.71. The trade was a 24.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Laurie H. Argo sold 5,200 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $72.88, for a total value of $378,976.00. Following the completion of the sale, the director directly owned 44,839 shares of the company's stock, valued at $3,267,866.32. The trade was a 10.39% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,099,593 shares of company stock worth $297,782,099 over the last quarter. Insiders own 20.23% of the company's stock.

Analyst Upgrades and Downgrades

SEI has been the topic of a number of research analyst reports. Barclays lifted their price target on shares of Solaris Energy Infrastructure from $74.00 to $86.00 and gave the company an "overweight" rating in a report on Wednesday, April 29th. Northland Securities set a $104.00 target price on Solaris Energy Infrastructure in a research note on Friday, June 12th. Wall Street Zen lowered shares of Solaris Energy Infrastructure from a "hold" rating to a "sell" rating in a research note on Saturday, March 7th. Piper Sandler boosted their target price on shares of Solaris Energy Infrastructure from $65.00 to $72.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 15th. Finally, Glj Research initiated coverage on shares of Solaris Energy Infrastructure in a research report on Thursday, March 5th. They set a "buy" rating and a $60.00 price objective for the company. Eight investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $81.80.

Solaris Energy Infrastructure Stock Performance

Shares of SEI opened at $76.56 on Friday. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 86.02 and a beta of 1.19. The firm has a fifty day simple moving average of $73.57 and a 200 day simple moving average of $60.36. Solaris Energy Infrastructure, Inc. has a 12 month low of $24.57 and a 12 month high of $86.19. The company has a current ratio of 1.11, a quick ratio of 1.07 and a debt-to-equity ratio of 1.23.

Solaris Energy Infrastructure (NYSE:SEI - Get Free Report) last issued its earnings results on Monday, April 27th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.18. Solaris Energy Infrastructure had a net margin of 6.69% and a return on equity of 13.33%. The business had revenue of $196.24 million during the quarter. Research analysts forecast that Solaris Energy Infrastructure, Inc. will post 1.09 EPS for the current fiscal year.

About Solaris Energy Infrastructure

Solaris Energy Infrastructure Fund Inc NYSE: SEI is a closed-end management investment company that seeks to provide total return through a combination of current income and capital appreciation. The fund pursues its objective by investing primarily in equity securities of energy infrastructure companies, including master limited partnerships (MLPs) and other midstream entities. SEI is externally managed by Solaris Asset Management LP, a firm specializing in energy infrastructure investments.

The fund’s portfolio targets businesses involved in the gathering, processing, transportation, storage and terminalling of oil, natural gas and refined products.

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