Marshall Wace LLP trimmed its position in Alta Mesa Resources Inc (NASDAQ:AMR) by 9.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,833,038 shares of the company’s stock after selling 195,082 shares during the quarter. Marshall Wace LLP owned approximately 0.48% of Alta Mesa Resources worth $12,483,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Bank of America Corp DE increased its holdings in Alta Mesa Resources by 1,630.6% in the 2nd quarter. Bank of America Corp DE now owns 38,765 shares of the company’s stock worth $264,000 after buying an additional 36,525 shares in the last quarter. Voya Investment Management LLC bought a new stake in Alta Mesa Resources in the 2nd quarter worth about $207,000. First Washington CORP increased its holdings in Alta Mesa Resources by 84.2% in the 2nd quarter. First Washington CORP now owns 547,710 shares of the company’s stock worth $3,730,000 after buying an additional 250,310 shares in the last quarter. NumerixS Investment Technologies Inc bought a new stake in Alta Mesa Resources in the 2nd quarter worth about $153,000. Finally, Dimensional Fund Advisors LP bought a new stake in Alta Mesa Resources in the 2nd quarter worth about $470,000. 53.35% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Bayou City Energy Management L purchased 422,000 shares of the business’s stock in a transaction on Thursday, August 30th. The stock was acquired at an average cost of $4.89 per share, for a total transaction of $2,063,580.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last 90 days, insiders have acquired 4,133,911 shares of company stock valued at $18,294,607. Corporate insiders own 0.21% of the company’s stock.
Shares of Alta Mesa Resources stock traded down $0.05 during trading hours on Friday, reaching $3.90. 1,466,151 shares of the stock traded hands, compared to its average volume of 1,809,000. Alta Mesa Resources Inc has a one year low of $3.90 and a one year high of $10.79. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.94 and a current ratio of 0.94.
Alta Mesa Resources (NASDAQ:AMR) last released its quarterly earnings results on Tuesday, August 14th. The company reported ($0.04) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by ($0.14). The business had revenue of $93.14 million during the quarter, compared to analyst estimates of $131.93 million. The firm’s quarterly revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts expect that Alta Mesa Resources Inc will post 0.14 EPS for the current year.
Alta Mesa Resources declared that its board has authorized a share buyback plan on Tuesday, August 14th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
Several equities research analysts recently commented on AMR shares. Goldman Sachs Group started coverage on Alta Mesa Resources in a report on Tuesday, July 10th. They issued a “buy” rating and a $8.25 price objective for the company. Zacks Investment Research upgraded Alta Mesa Resources from a “hold” rating to a “buy” rating and set a $7.50 price objective for the company in a report on Friday, July 20th. Guggenheim started coverage on Alta Mesa Resources in a report on Monday, July 30th. They issued a “buy” rating and a $10.00 price objective for the company. ValuEngine upgraded Alta Mesa Resources from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 14th. Finally, Imperial Capital downgraded Alta Mesa Resources from an “outperform” rating to an “in-line” rating and reduced their price objective for the stock from $11.00 to $8.00 in a report on Wednesday, August 15th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Alta Mesa Resources currently has an average rating of “Buy” and a consensus target price of $8.89.
Alta Mesa Resources Profile
Alta Mesa Resources, Inc focuses on the acquisition and development of unconventional oil and natural gas reserves in the Anadarko Basin. It also offers midstream energy services, including crude oil and gas gathering, processing, and marketing to producers of natural gas, natural gas liquids, crude oil, and condensate in the STACK Play region of Oklahoma.
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