Zweig DiMenna Associates LLC Buys Shares of 47,500 Solaris Energy Infrastructure, Inc. $SEI

Key Points

• Zweig DiMenna Associates initiated a new position in Solaris Energy Infrastructure, buying 47,500 shares valued at about $2.68 million in the first quarter.
• Insiders have been selling shares recently, including Christopher M. Powell and Director Laurie H. Argo, with total insider sales reaching over $297.8 million in the last 90 days.
• Solaris Energy Infrastructure beat quarterly earnings expectations, reporting $0.44 EPS versus $0.26 expected, and analysts remain broadly positive with a Moderate Buy consensus and a price target of $86.25.

Zweig DiMenna Associates LLC purchased a new position in Solaris Energy Infrastructure, Inc. (NYSE:SEI - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 47,500 shares of the company's stock, valued at approximately $2,684,000. Zweig DiMenna Associates LLC owned about 0.07% of Solaris Energy Infrastructure at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Royal Bank of Canada bought a new position in shares of Solaris Energy Infrastructure in the 1st quarter valued at approximately $477,000. AQR Capital Management LLC acquired a new stake in Solaris Energy Infrastructure in the 1st quarter worth approximately $2,475,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Solaris Energy Infrastructure in the 1st quarter worth approximately $396,000. Goldman Sachs Group Inc. bought a new stake in Solaris Energy Infrastructure during the first quarter worth approximately $13,714,000. Finally, Strs Ohio bought a new stake in Solaris Energy Infrastructure during the first quarter worth approximately $28,000. Institutional investors own 67.44% of the company's stock.

Insiders Place Their Bets

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 transaction of $2,750,264.76. Following the transaction, the insider owned 114,117 shares of the company's stock, valued at approximately $8,516,551.71. The trade was a 24.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Laurie H. Argo sold 5,200 shares of the company's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $72.88, for a total transaction of $378,976.00. Following the transaction, the director owned 44,839 shares of the company's stock, valued at approximately $3,267,866.32. The trade was a 10.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 4,099,593 shares of company stock valued at $297,782,099 in the last 90 days. 20.23% of the stock is currently owned by corporate insiders.

Solaris Energy Infrastructure Price Performance

Shares of NYSE:SEI opened at $69.52 on Wednesday. The company has a market cap of $5.11 billion, a price-to-earnings ratio of 78.11 and a beta of 1.17. The business has a 50 day moving average price of $73.61 and a 200 day moving average price of $62.38. The company has a quick ratio of 1.07, a current ratio of 1.11 and a debt-to-equity ratio of 1.23. Solaris Energy Infrastructure, Inc. has a twelve month low of $24.57 and a twelve month high of $86.19.

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

Wall Street Analysts Forecast Growth

SEI has been the topic of a number of recent 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 research report on Wednesday, April 29th. Raymond James Financial reaffirmed an "outperform" rating and set a $82.00 price objective on shares of Solaris Energy Infrastructure in a report on Wednesday, April 29th. Zacks Research lowered shares of Solaris Energy Infrastructure from a "hold" rating to a "strong sell" rating in a research note on Tuesday, June 30th. Wolfe Research began coverage on shares of Solaris Energy Infrastructure in a research note on Monday, July 6th. They issued an "outperform" rating and a $120.00 target price on the stock. Finally, Stifel Nicolaus lifted their target price on shares of Solaris Energy Infrastructure from $71.00 to $93.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Ten research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $86.25.

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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