Frontier Capital Management Co. LLC Purchases New Position in Atlas Energy Solutions Inc. (NYSE:AESI)

Frontier Capital Management Co. LLC bought a new stake in shares of Atlas Energy Solutions Inc. (NYSE:AESI - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 801,153 shares of the company's stock, valued at approximately $17,770,000. Frontier Capital Management Co. LLC owned approximately 0.73% of Atlas Energy Solutions as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of AESI. CBIZ Investment Advisory Services LLC raised its stake in shares of Atlas Energy Solutions by 62.9% during the fourth quarter. CBIZ Investment Advisory Services LLC now owns 1,354 shares of the company's stock valued at $30,000 after acquiring an additional 523 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Atlas Energy Solutions by 307.9% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,387 shares of the company's stock valued at $31,000 after purchasing an additional 1,047 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in shares of Atlas Energy Solutions by 8.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 14,770 shares of the company's stock worth $328,000 after buying an additional 1,100 shares during the last quarter. Quarry LP purchased a new stake in Atlas Energy Solutions in the fourth quarter worth $27,000. Finally, Global Retirement Partners LLC increased its position in Atlas Energy Solutions by 191.9% during the 4th quarter. Global Retirement Partners LLC now owns 1,941 shares of the company's stock valued at $43,000 after purchasing an additional 1,276 shares during the period. 34.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Piper Sandler cut their target price on shares of 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. The Goldman Sachs Group reduced their target price on Atlas Energy Solutions from $22.00 to $15.00 and set a "neutral" rating on the stock in a report on Thursday, April 10th. Royal Bank of Canada dropped their price target on Atlas Energy Solutions from $21.00 to $17.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Benchmark decreased their price objective 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, Citigroup lowered their price objective on Atlas Energy Solutions from $18.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $19.81.

Atlas Energy Solutions Stock Down 1.0%

Shares of NYSE:AESI traded down $0.13 during trading on Wednesday, reaching $13.23. 1,198,218 shares of the stock traded hands, compared to its average volume of 1,760,227. The stock has a market cap of $1.61 billion, a P/E ratio of 16.75 and a beta of 1.34. Atlas Energy Solutions Inc. has a 52-week low of $11.76 and a 52-week high of $26.86. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23. The stock has a 50-day moving average of $15.33 and a two-hundred day moving average of $19.63.

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

Atlas Energy Solutions Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 15th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 7.56%. The ex-dividend date of this dividend is Thursday, May 15th. Atlas Energy Solutions's payout ratio is currently 322.58%.

Insider Buying and Selling at Atlas Energy Solutions

In other news, major shareholder Gregory M. Shepard purchased 32,155 shares of the company's stock in a transaction on Thursday, February 27th. The stock was acquired at an average cost of $19.04 per share, for a total transaction of $612,231.20. Following the completion of the transaction, the insider now directly owns 7,651,210 shares in the company, valued at $145,679,038.40. This trade represents a 0.42% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 15.98% of the stock is owned by corporate insiders.

About Atlas Energy Solutions

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.