Russell Investments Group Ltd. lifted its position in Smart Sand Inc (NASDAQ:SND) by 237.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 847,723 shares of the company’s stock after acquiring an additional 596,398 shares during the quarter. Russell Investments Group Ltd. owned approximately 2.10% of Smart Sand worth $5,746,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Eagle Asset Management Inc. grew its stake in shares of Smart Sand by 46.8% in the 2nd quarter. Eagle Asset Management Inc. now owns 1,107,980 shares of the company’s stock worth $9,872,000 after acquiring an additional 353,021 shares in the last quarter. American Century Companies Inc. purchased a new position in shares of Smart Sand in the 2nd quarter worth about $1,249,000. Vanguard Group Inc. boosted its holdings in shares of Smart Sand by 113.5% in the 1st quarter. Vanguard Group Inc. now owns 756,457 shares of the company’s stock worth $12,292,000 after buying an additional 402,123 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Smart Sand by 176.7% in the 1st quarter. Morgan Stanley now owns 105,869 shares of the company’s stock worth $1,720,000 after buying an additional 67,604 shares during the last quarter. Finally, Ameriprise Financial Inc. purchased a new position in shares of Smart Sand in the 2nd quarter worth about $3,965,000. Hedge funds and other institutional investors own 49.61% of the company’s stock.
A number of brokerages recently weighed in on SND. BidaskClub raised shares of Smart Sand from a “hold” rating to a “buy” rating in a report on Tuesday, September 26th. Seaport Global Securities began coverage on shares of Smart Sand in a report on Friday. They issued a “buy” rating and a $15.00 price target on the stock. Piper Jaffray Companies reissued a “buy” rating on shares of Smart Sand in a report on Monday, August 14th. Zacks Investment Research raised shares of Smart Sand from a “sell” rating to a “hold” rating in a report on Saturday, September 9th. Finally, Jefferies Group set a $7.00 price objective on shares of Smart Sand and gave the company a “buy” rating in a report on Thursday, October 5th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Smart Sand presently has a consensus rating of “Buy” and a consensus price target of $13.00.
Smart Sand (NASDAQ:SND) last announced its quarterly earnings results on Thursday, November 9th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.07. Smart Sand had a net margin of 18.67% and a return on equity of 14.41%. The firm had revenue of $39.33 million for the quarter, compared to the consensus estimate of $33.60 million. During the same period in the prior year, the firm posted $0.06 earnings per share. The company’s revenue for the quarter was up 259.8% on a year-over-year basis. analysts anticipate that Smart Sand Inc will post 0.4 EPS for the current fiscal year.
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About Smart Sand
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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