Ameriprise Financial Inc. acquired a new stake in Smart Sand Inc (NYSE:SND) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 444,900 shares of the company’s stock, valued at approximately $3,965,000. Ameriprise Financial Inc. owned about 1.10% of Smart Sand at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Credit Suisse AG grew its stake in Smart Sand by 6.6% in the 1st quarter. Credit Suisse AG now owns 16,728 shares of the company’s stock valued at $272,000 after acquiring an additional 1,038 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of Smart Sand by 28.6% during the 1st quarter. Nationwide Fund Advisors now owns 7,190 shares of the company’s stock worth $117,000 after purchasing an additional 1,597 shares during the last quarter. Winslow Evans & Crocker Inc. boosted its stake in shares of Smart Sand by 10.8% during the 2nd quarter. Winslow Evans & Crocker Inc. now owns 30,725 shares of the company’s stock worth $281,000 after purchasing an additional 2,999 shares during the last quarter. American International Group Inc. acquired a new stake in shares of Smart Sand during the 1st quarter worth about $116,000. Finally, Creative Planning boosted its position in shares of Smart Sand by 70.0% in the second quarter. Creative Planning now owns 22,100 shares of the company’s stock worth $197,000 after acquiring an additional 9,100 shares during the last quarter.
In other Smart Sand news, CEO Charles Edwin Young purchased 100,000 shares of the company’s stock in a transaction on Wednesday, August 16th. The shares were purchased at an average cost of $5.18 per share, for a total transaction of $518,000.00. Following the completion of the transaction, the chief executive officer now owns 140,600 shares in the company, valued at $728,308. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Lee E. Beckelman acquired 20,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were bought at an average price of $5.13 per share, for a total transaction of $102,600.00. Following the acquisition, the chief financial officer now owns 137,500 shares in the company, valued at approximately $705,375. The disclosure for this purchase can be found here. Over the last quarter, insiders acquired 132,000 shares of company stock worth $685,960.
Several equities research analysts recently issued reports on SND shares. Credit Suisse Group cut shares of Smart Sand from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $20.00 to $8.50 in a research report on Thursday, July 20th. Piper Jaffray Companies restated a “buy” rating on shares of Smart Sand in a report on Monday, August 14th. Jefferies Group LLC set a $7.00 price target on shares of Smart Sand and gave the company a “buy” rating in a report on Monday, August 28th. Zacks Investment Research upgraded shares of Smart Sand from a “sell” rating to a “hold” rating in a report on Saturday, September 9th. Finally, BidaskClub upgraded shares of Smart Sand from a “sell” rating to a “hold” rating in a research note on Thursday, September 14th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $13.07.
Smart Sand Inc (NYSE SND) traded up $0.29 during trading on Friday, reaching $8.59. 1,243,708 shares of the company’s stock were exchanged, compared to its average volume of 529,439. Smart Sand Inc has a 1 year low of $4.81 and a 1 year high of $21.99.
Smart Sand (NYSE:SND) last announced its quarterly earnings results on Thursday, November 9th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.07. Smart Sand had a net margin of 8.81% and a return on equity of 6.22%. The company had revenue of $39.33 million during the quarter, compared to the consensus estimate of $33.60 million. During the same quarter in the previous year, the company posted $0.06 earnings per share. The company’s revenue for the quarter was up 259.8% compared to the same quarter last year.
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Smart Sand Company Profile
Smart Sand, Inc is a producer of Northern White raw frac sand, which is a proppant used to enhance hydrocarbon recovery rates in the hydraulic fracturing of oil and natural gas wells. The Company sells its products primarily to oil and natural gas exploration and production companies and oilfield service companies under a combination of long-term take-or-pay contracts and spot sales in the open market.
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