Corsair Capital Management L.P. has acquired a new stake in Hallador Energy Company (NASDAQ:HNRG) during the second quarter of 2023. The investment firm purchased 30,000 shares valued at approximately $475,000, marking a significant move in the energy sector.
Other hedge funds have also adjusted their positions in Hallador Energy recently. For instance, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake by 4.3% in the first quarter, now owning 15,193 shares worth $187,000 after acquiring an additional 624 shares. Similarly, Rhumbline Advisers boosted its stake by 2.5%, increasing its holdings to 37,607 shares valued at $462,000 after purchasing 935 shares. SummerHaven Investment Management LLC raised its position by 1.0%, now owning 107,766 shares worth $1.706 million.
In a notable increase, Ameritas Investment Partners Inc. lifted its stake by a remarkable 68.0%, now holding 3,169 shares valued at $50,000. Also, Pinnacle Holdings LLC increased its position by 33.0%, owning 5,538 shares valued at $68,000.
Analyst Ratings and Market Performance
Currently, hedge funds and other institutional investors own approximately 61.38% of Hallador Energy’s stock. The company has attracted attention from analysts, with various research reports highlighting its performance. Zacks Research upgraded the stock from a “hold” rating to a “strong-buy” rating, while Weiss Ratings maintained a “sell (d-)” rating. Citigroup adjusted its rating to “neutral,” and Alliance Global Partners reiterated a “buy” rating.
As of now, Hallador Energy holds a consensus rating of “Moderate Buy” from analysts, with a target price set at $21.25. The stock opened at $19.89 on Friday, reflecting a 1.2% increase. The company has a market capitalization of $871.68 million and reported a PE ratio of -3.99.
On November 10, 2023, Hallador Energy announced earnings results that exceeded analysts’ expectations, reporting an earnings per share (EPS) of $0.55 for the quarter, significantly surpassing the consensus estimate of $0.06. The company achieved revenues of $146.85 million, compared to analysts’ projections of $110.92 million.
Insider Transactions and Company Overview
In insider trading news, Charles Ray Iv Wesley, a director at Hallador Energy, acquired 13,000 shares at an average price of $19.28 per share, totaling $250,640. Following this acquisition, Wesley holds 247,914 shares valued at approximately $4.78 million. Conversely, David C. Hardie, another director, sold 100,000 shares at an average price of $19.53, resulting in a total of $1.95 million from the sale.
Hallador Energy Company operates in the production of steam coal within the State of Indiana, servicing the electric power generation industry. The company owns multiple mining operations, including the Oaktown Mine 1 and Oaktown Mine 2, as well as additional surface mines in Freelandville and Petersburg.
For more insights on Hallador Energy and its market position, investors can visit HoldingsChannel.com for the latest filings and insider trades.
