52,615 Shares in ProPetro Holding Corp. (NYSE:PUMP) Acquired by GSA Capital Partners LLP

GSA Capital Partners LLP purchased a new position in ProPetro Holding Corp. (NYSE:PUMP) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 52,615 shares of the company’s stock, valued at approximately $403,000. GSA Capital Partners LLP owned 0.05% of ProPetro at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. CWM LLC lifted its holdings in ProPetro by 17.2% in the 3rd quarter. CWM LLC now owns 8,624 shares of the company’s stock valued at $66,000 after purchasing an additional 1,267 shares in the last quarter. GAMMA Investing LLC increased its position in shares of ProPetro by 84.3% during the 3rd quarter. GAMMA Investing LLC now owns 3,221 shares of the company’s stock worth $25,000 after purchasing an additional 1,473 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of ProPetro by 1.8% during the 2nd quarter. Victory Capital Management Inc. now owns 111,904 shares of the company’s stock worth $970,000 after purchasing an additional 1,990 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of ProPetro by 6.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 37,392 shares of the company’s stock worth $324,000 after purchasing an additional 2,257 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in shares of ProPetro by 8.9% during the 2nd quarter. Federated Hermes Inc. now owns 29,912 shares of the company’s stock worth $259,000 after purchasing an additional 2,446 shares during the last quarter. Institutional investors and hedge funds own 84.70% of the company’s stock.

ProPetro Price Performance

ProPetro stock opened at $8.22 on Friday. ProPetro Holding Corp. has a 12 month low of $6.53 and a 12 month high of $10.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.20 and a quick ratio of 1.14. The business has a 50 day simple moving average of $7.83 and a 200-day simple moving average of $8.35. The stock has a market capitalization of $846.08 million, a PE ratio of -6.17 and a beta of 2.04.

Insider Buying and Selling

In related news, CFO David Scott Schorlemer acquired 4,500 shares of ProPetro stock in a transaction dated Monday, November 4th. The shares were acquired at an average cost of $6.86 per share, for a total transaction of $30,870.00. Following the completion of the transaction, the chief financial officer now directly owns 112,992 shares of the company’s stock, valued at $775,125.12. The trade was a 4.15 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Michele Vion sold 5,000 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $8.26, for a total value of $41,300.00. Following the transaction, the director now owns 34,006 shares in the company, valued at $280,889.56. This trade represents a 12.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.88% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on PUMP. Barclays dropped their target price on ProPetro from $13.00 to $12.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Citigroup lowered their price objective on ProPetro from $8.50 to $8.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Stifel Nicolaus decreased their target price on ProPetro from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Friday, October 11th. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $10.33.

About ProPetro

ProPetro Holding Corp. operates as an integrated oilfield services company. The company provides hydraulic fracturing, wireline, cementing, and other complementary oilfield completion services to upstream oil and gas companies in the Permian Basin. ProPetro Holding Corp. was founded in 2007 and is headquartered in Midland, Texas.