William Blair Investment Management LLC Sells 18,743 Shares of Gulfport Energy Corporation $GPOR

Key Points

• William Blair Investment Management LLC reduced its stake in Gulfport Energy Corporation by 7.7%, selling 18,743 shares in the second quarter, bringing its total ownership to approximately 224,972 shares worth $45.26 million.
• Several hedge funds increased their positions in Gulfport Energy during the second quarter, with notable purchases including $5.02 million from Azarias Capital Management L.P.
• Gulfport Energy currently has a market capitalization of $3.12 billion and is trending upwards with a stock price of $177.55, reflecting a 0.6% increase.

William Blair Investment Management LLC reduced its position in Gulfport Energy Corporation (NYSE:GPOR - Free Report) by 7.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 224,972 shares of the company's stock after selling 18,743 shares during the quarter. William Blair Investment Management LLC owned approximately 1.27% of Gulfport Energy worth $45,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Gulfport Energy in the second quarter worth $557,000. Pallas Capital Advisors LLC purchased a new position in shares of Gulfport Energy in the second quarter worth $263,000. Azarias Capital Management L.P. purchased a new position in shares of Gulfport Energy in the second quarter worth $5,015,000. Assenagon Asset Management S.A. lifted its holdings in shares of Gulfport Energy by 243.6% in the second quarter. Assenagon Asset Management S.A. now owns 42,763 shares of the company's stock worth $8,603,000 after buying an additional 30,317 shares in the last quarter. Finally, Tectonic Advisors LLC lifted its holdings in shares of Gulfport Energy by 15.6% in the second quarter. Tectonic Advisors LLC now owns 12,383 shares of the company's stock worth $2,491,000 after buying an additional 1,668 shares in the last quarter.

Gulfport Energy Trading Up 0.6%

NYSE GPOR opened at $177.55 on Friday. The business has a 50-day moving average of $174.82. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $3.12 billion, a PE ratio of -24.73 and a beta of 0.62. Gulfport Energy Corporation has a 12 month low of $136.45 and a 12 month high of $210.32.

Gulfport Energy (NYSE:GPOR - Get Free Report) last issued its earnings results on Monday, February 28th. The company reported $0.17 earnings per share (EPS) for the quarter. Gulfport Energy had a negative net margin of 9.14% and a positive return on equity of 18.89%. The company had revenue of $298.62 million for the quarter.

Insider Transactions at Gulfport Energy

In other Gulfport Energy news, Director Jason Joseph Martinez sold 600 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $171.57, for a total transaction of $102,942.00. Following the transaction, the director directly owned 4,288 shares in the company, valued at $735,692.16. This represents a 12.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.62% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GPOR has been the topic of a number of recent research reports. William Blair initiated coverage on shares of Gulfport Energy in a research note on Monday, August 25th. They set an "outperform" rating on the stock. JPMorgan Chase & Co. upped their price target on shares of Gulfport Energy from $208.00 to $236.00 and gave the company an "overweight" rating in a research note on Friday, July 11th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Gulfport Energy in a research note on Wednesday, October 8th. Zacks Research downgraded shares of Gulfport Energy from a "hold" rating to a "strong sell" rating in a research note on Tuesday, September 9th. Finally, Roth Capital assumed coverage on shares of Gulfport Energy in a research note on Monday, October 13th. They issued a "neutral" rating and a $200.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $210.71.

Gulfport Energy Profile

Gulfport Energy Corporation engages in the exploration, development, acquisition, production of natural gas, crude oil, and natural gas liquids (NGL) in the United States. Its principal properties include Utica Shale covering an area approximately 187,000 net reservoir acres primarily located in Eastern Ohio; and SCOOP covering an area approximately 74,000 net reservoir acres primarily located in Garvin, Grady, and Stephens.

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