Victory Capital Management Inc. Trims Stake in Atlas Energy Solutions Inc. (NYSE:AESI)

Victory Capital Management Inc. lowered its position in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,058,864 shares of the company's stock after selling 29,674 shares during the period. Victory Capital Management Inc. owned approximately 0.87% of Atlas Energy Solutions worth $18,890,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in AESI. Quarry LP bought a new stake in Atlas Energy Solutions in the 4th quarter worth approximately $27,000. Tower Research Capital LLC TRC grew its position in Atlas Energy Solutions by 307.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company's stock worth $31,000 after purchasing an additional 1,047 shares during the period. Fifth Third Bancorp increased its stake in shares of Atlas Energy Solutions by 1,240.1% in the 1st quarter. Fifth Third Bancorp now owns 1,970 shares of the company's stock worth $35,000 after purchasing an additional 1,823 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of Atlas Energy Solutions by 201.8% in the 1st quarter. Larson Financial Group LLC now owns 1,968 shares of the company's stock worth $35,000 after purchasing an additional 1,316 shares in the last quarter. Finally, Canton Hathaway LLC purchased a new stake in shares of Atlas Energy Solutions in the 1st quarter worth $73,000. Institutional investors own 34.59% of the company's stock.

Atlas Energy Solutions Price Performance

AESI stock traded down $0.03 during mid-day trading on Friday, hitting $14.02. The company had a trading volume of 970,101 shares, compared to its average volume of 1,503,708. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 45.24 and a beta of 1.20. Atlas Energy Solutions Inc. has a 12-month low of $11.76 and a 12-month high of $26.86. The company has a quick ratio of 1.40, a current ratio of 1.62 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average price of $13.57 and a 200 day moving average price of $16.54.

Atlas Energy Solutions (NYSE:AESI - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.10). The company had revenue of $297.59 million during the quarter, compared to analysts' expectations of $291.13 million. Atlas Energy Solutions had a return on equity of 4.99% and a net margin of 2.96%. The firm's revenue for the quarter was up 54.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.26 EPS. On average, research analysts anticipate that Atlas Energy Solutions Inc. will post 0.83 earnings per share for the current year.

Atlas Energy Solutions Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 15th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 7.13%. The ex-dividend date was Thursday, May 15th. Atlas Energy Solutions's payout ratio is currently 322.58%.

Wall Street Analyst Weigh In

AESI has been the subject of several analyst reports. Stifel Nicolaus reduced their price objective on Atlas Energy Solutions from $15.00 to $14.50 and set a "buy" rating for the company in a research note on Wednesday, July 16th. Piper Sandler restated a "neutral" rating and issued a $16.00 price objective on shares of Atlas Energy Solutions in a research note on Tuesday, July 15th. Royal Bank Of Canada reduced their price objective on Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Citigroup reduced their price objective on Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Finally, The Goldman Sachs Group reduced their price objective on Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating for the company in a research note on Thursday, April 10th. Seven equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $19.11.

Insider Buying and Selling at Atlas Energy Solutions

In related news, Director Douglas G. Rogers purchased 7,000 shares of the firm'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 purchase, the director directly owned 10,000 shares in the company, valued at $132,700. This trade represents a 233.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Ben M. Brigham bought 9,635 shares of the firm's stock in a transaction dated Wednesday, May 14th. The shares were acquired at an average price of $13.38 per share, for a total transaction of $128,916.30. Following the completion of the transaction, the chairman directly owned 572,397 shares in the company, valued at approximately $7,658,671.86. This represents a 1.71% increase in their position. The disclosure for this purchase can be found here. 15.98% of the stock is owned by insiders.

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.