Mirae Asset Global Investments Co. Ltd. Boosts Holdings in ProPetro Holding Corp. (NYSE:PUMP)

Posted by Defense World Staff on Jun 3rd, 2023

Mirae Asset Global Investments Co. Ltd. increased its holdings in ProPetro Holding Corp. (NYSE:PUMP – Get Rating) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,651 shares of the company’s stock after buying an additional 1,813 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in ProPetro were worth $390,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Belpointe Asset Management LLC bought a new stake in ProPetro during the 4th quarter worth approximately $26,000. Quadrant Capital Group LLC raised its position in shares of ProPetro by 553.2% during the third quarter. Quadrant Capital Group LLC now owns 3,279 shares of the company’s stock valued at $26,000 after buying an additional 2,777 shares during the last quarter. US Asset Management LLC bought a new stake in shares of ProPetro during the fourth quarter valued at approximately $67,000. Point72 Hong Kong Ltd bought a new stake in shares of ProPetro during the first quarter valued at approximately $108,000. Finally, Tower Research Capital LLC TRC raised its position in shares of ProPetro by 14.0% during the third quarter. Tower Research Capital LLC TRC now owns 9,493 shares of the company’s stock valued at $77,000 after buying an additional 1,163 shares during the last quarter. Institutional investors own 88.58% of the company’s stock.

Insider Buying and Selling

In related news, Director Michele Vion sold 21,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $6.89, for a total value of $144,690.00. Following the sale, the director now owns 40,094 shares in the company, valued at $276,247.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.88% of the stock is currently owned by company insiders.

ProPetro Trading Up 7.1 %

ProPetro stock opened at $7.51 on Friday. The stock has a market cap of $865.38 million, a P/E ratio of 50.07 and a beta of 2.36. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.21 and a quick ratio of 1.15. ProPetro Holding Corp. has a 1 year low of $6.33 and a 1 year high of $14.34. The firm’s 50 day moving average price is $7.17 and its 200-day moving average price is $8.81.

ProPetro (NYSE:PUMP – Get Rating) last released its quarterly earnings data on Wednesday, May 3rd. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.09). ProPetro had a net margin of 1.33% and a return on equity of 16.74%. The company had revenue of $423.57 million for the quarter, compared to the consensus estimate of $410.08 million. On average, equities analysts predict that ProPetro Holding Corp. will post 1.55 earnings per share for the current fiscal year.

About ProPetro

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ProPetro Holding Corp. is an oilfield services company that engages in the provision of hydraulic fracturing and other complementary services. It operates through the following segments: Hydraulic Fracturing, Cementing, Coil Tubing, Flowback, and Drilling. The Hydraulic Fracturing segment intends to optimize hydrocarbon flow paths during the completion phase of horizontal shale wellbores.