Pointe Capital Management buys $879,673 stake in Hi-Crush Partners LP (HCLP)

Hi-Crush Partners LP (HCLP) : Pointe Capital Management scooped up 28,699 additional shares in Hi-Crush Partners LP during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 80,043 shares of Hi-Crush Partners LP which is valued at $879,673.Hi-Crush Partners LP makes up approximately 0.63% of Pointe Capital Management’s portfolio.

Other Hedge Funds, Including , Financial Architects Inc added HCLP to its portfolio by purchasing 900 company shares during the most recent quarter which is valued at $9,891. Burt Wealth Advisors sold out all of its stake in HCLP during the most recent quarter. The investment firm sold 100 shares of HCLP which is valued $1,190. Laurel Wealth Advisors sold out all of its stake in HCLP during the most recent quarter. The investment firm sold 14,900 shares of HCLP which is valued $190,571.

Hi-Crush Partners LP opened for trading at $11.33 and hit $11.99 on the upside on Friday, eventually ending the session at $11.57, with a gain of 1.31% or 0.15 points. The heightened volatility saw the trading volume jump to 5,97,055 shares. Company has a market cap of $429 M.

On the company’s financial health, Hi-Crush Partners LP reported $-0.48 EPS for the quarter, missing the analyst consensus estimate by $ -0.33 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.15. The company had revenue of $52.15 million for the quarter, compared to analysts expectations of $53.90 million. The company’s revenue was down -48.9 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.60 EPS.

Many Wall Street Analysts have commented on Hi-Crush Partners LP. Company shares were Upgraded by Jefferies on Jul 11, 2016 to ” Buy”, Firm has raised the Price Target to $ 20 from a previous price target of $6 .Hi-Crush Partners LP was Upgraded by Raymond James to ” Strong Buy” on Jun 15, 2016. Company shares were Reiterated by Wunderlich on Jun 14, 2016 to “Hold”, Firm has raised the Price Target to $ 11 from a previous price target of $6 .

Hi-Crush Partners LP is a producer and supplier of monocrystalline sand. The Company is a limited partnership formed to acquire selected sand reserves and related processing and transportation facilities of Hi-Crush Proppants LLC. Its reserves consist of northern white sand a resource in Wisconsin and limited portions of the upper Midwest region of the United States. It owns operates and develops sand reserves and related excavation and processing facilities. Its 751-acre facility with rail infrastructure located in Wyeville Wisconsin enables it to process and deliver approximately 1600000 tons of 20/70 frac sand per year. It also holds a 98% interest in Augusta. The Company owns and operates the Wyeville facility which is located in Monroe County Wisconsin and contains approximately 75.5 million tons of recoverable reserves of frac sand.

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