Insider Selling: Atlas Energy Solutions Inc. (NYSE:AESI) Major Shareholder Sells 10,000 Shares of Stock

Atlas Energy Solutions Inc. (NYSE:AESI) major shareholder Brian Anthony Leveille sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $21.50, for a total transaction of $215,000.00. Following the sale, the insider now directly owns 472,010 shares in the company, valued at approximately $10,148,215. This trade represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Brian Anthony Leveille also recently made the following trade(s):

• On Monday, November 18th, Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock. The shares were sold at an average price of $20.70, for a total transaction of $207,000.00.
• On Wednesday, November 6th, Brian Anthony Leveille sold 20,000 shares of Atlas Energy Solutions stock. The shares were sold at an average price of $21.39, for a total transaction of $427,800.00.
• On Tuesday, October 29th, Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock. The stock was sold at an average price of $21.02, for a total value of $210,200.00.
• On Monday, October 14th, Brian Anthony Leveille sold 10,000 shares of Atlas Energy Solutions stock. The shares were sold at an average price of $20.50, for a total value of $205,000.00.

Atlas Energy Solutions Stock Performance

NYSE AESI opened at $23.55 on Wednesday. Atlas Energy Solutions Inc. has a 52-week low of $15.55 and a 52-week high of $24.93. The company has a fifty day moving average of $21.14 and a 200-day moving average of $21.03. The company has a market capitalization of $2.60 billion, a P/E ratio of 29.38, a P/E/G ratio of 13.05 and a beta of 0.69. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.08 and a current ratio of 1.23.

Atlas Energy Solutions (NYSE:AESI) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.29 by ($0.25). The firm had revenue of $304.40 million for the quarter, compared to the consensus estimate of $307.93 million. Atlas Energy Solutions had a return on equity of 11.01% and a net margin of 8.78%. The company’s revenue for the quarter was up 93.1% on a year-over-year basis. During the same period last year, the firm earned $0.51 EPS. As a group, equities research analysts predict that Atlas Energy Solutions Inc. will post 0.8 EPS for the current fiscal year.

Atlas Energy Solutions Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Thursday, November 7th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date was Thursday, November 7th. This is a boost from Atlas Energy Solutions’s previous quarterly dividend of $0.23. Atlas Energy Solutions’s dividend payout ratio (DPR) is presently 121.52%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Pickering Energy Partners downgraded Atlas Energy Solutions from an “outperform” rating to a “neutral” rating in a research note on Wednesday, October 30th. Barclays lowered shares of Atlas Energy Solutions from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $23.00 to $19.00 in a research report on Tuesday, November 12th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $25.00 target price on shares of Atlas Energy Solutions in a report on Wednesday, October 30th. Stephens reissued an “overweight” rating and issued a $28.00 price target on shares of Atlas Energy Solutions in a report on Tuesday, August 6th. Finally, The Goldman Sachs Group cut shares of Atlas Energy Solutions from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $23.00 to $21.00 in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $24.44.

Institutional Investors Weigh In On Atlas Energy Solutions

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its position in Atlas Energy Solutions by 9,759.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,628,485 shares of the company’s stock worth $36,838,000 after acquiring an additional 1,611,968 shares during the last quarter. Cooke & Bieler LP increased its stake in shares of Atlas Energy Solutions by 775.7% in the second quarter. Cooke & Bieler LP now owns 1,699,013 shares of the company’s stock worth $33,861,000 after buying an additional 1,504,988 shares during the period. Wellington Management Group LLP purchased a new position in shares of Atlas Energy Solutions in the third quarter worth $17,314,000. Meridian Wealth Advisors LLC raised its holdings in Atlas Energy Solutions by 25.8% during the 2nd quarter. Meridian Wealth Advisors LLC now owns 2,677,490 shares of the company’s stock valued at $53,362,000 after buying an additional 548,620 shares during the last quarter. Finally, Janus Henderson Group PLC boosted its position in Atlas Energy Solutions by 26.9% during the 1st quarter. Janus Henderson Group PLC now owns 2,537,215 shares of the company’s stock valued at $57,392,000 after buying an additional 537,927 shares during the period. Institutional investors own 34.59% of the company’s stock.

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.