The financial world has been buzzing with news of FORA Capital LLC’s recent acquisition of a new position in ChampionX Co. (NASDAQ: CHX). According to the company’s most recent 13F filing with the Securities and Exchange Commission (SEC), FORA purchased 13,260 shares of the company’s stock during the fourth quarter, valued at approximately $384,000.
This news comes as insiders have been making moves within the company as well. Paul E. Mahoney, an insider at ChampionX Co., recently sold 1,171 shares of the company’s stock in a transaction dated Monday, February 13th. The shares were sold at an average price of $31.29 per share, for a total value of $36,640.59. Following the completion of this sale, Mahoney now directly owns 119,816 shares of the company’s stock valued at $3,749,042.64.
Despite these developments, it appears that CHX is holding steady in terms of its market capitalization and performance on NASDAQ. Shares opened at $26.30 on Friday with a market capitalization of $5.21 billion and a P/E ratio of 29.89. Its current ratio stands at 1.75 with a quick ratio of 1.04 and a debt-to-equity ratio of 0.36.
Over the past year, shares have fluctuated between a low point of $16.64 and a high point of $33.65 with a fifty-day moving average price currently set at $27.41 and a two-hundred-day moving average price sitting at approximately $29.24.
It remains to be seen what future moves will be made by both insiders and those who hold positions in CHX like FORA Capital LLC; however, all eyes are surely on this dynamic company as it continues to chart its course within the financial landscape over the coming months and years. In terms of its ability to innovate and adapt within an ever-changing global market, ChampionX could prove to be a force to be reckoned with for some time to come. For investors and analysts alike, the future of this company is undoubtedly worth watching closely.
ChampionX Attracts Institutional Investors and Maintains Positive Earnings Despite Analyst Divergence
ChampionX (NASDAQ:CHX) has attracted a number of large institutional investors in recent months. Profund Advisors LLC increased its position in the company by 12.2% during the fourth quarter, now owning approximately 40,943 shares worth $1,187,000. Oppenheimer Asset Management Inc. boosted its stake by 1.6%, now holding about 89,965 shares worth $1,761,000. Quadrant Capital Group LLC also saw an increase in their stake by 27.9%, currently holding 1,688 shares worth $33,000 while Congress Wealth Management LLC DE and Legacy Wealth Asset Management LLC both acquired new positions in ChampionX during the fourth quarter worth $289,000 and $249,000 respectively.
Despite a drop in share price objective from $41.00 to $40.00 by Citigroup recently and two “hold” ratings given to the stock by analysts, TheStreet upgraded ChampionX from a “c+” rating to a “b-” rating on March 24th while three other analysts have given it a buy rating thus far making for an average rating of “Moderate Buy” according to data from Bloomberg.com with a consensus price target of $30.80.
ChampionX insider Paul E. Mahoney recently sold 1,171 shares of the company’s stock at an average price of $31.29 per share totalling at around $36,640 followed by another revelation that he now owns just over 119k shares valued at above $3m.
ChampionX released earnings data on April 25th which showcased an EPS (earnings per share) figure of $0.36p meeting analyst’s consensus predictions for the quarter with their net margin being noted as coming in at 4.68% alongside revenue numbers totalling up to just under one billion dollars for Q1 according to analysis provided by Bloomberg.com. It was also discovered that The business’s revenue was up 9.5% on a year-over-year basis making it more lucrative on the whole.
Finally, ChampionX also released news about its latest dividend payment revealing the dividend to be $0.085 per share which was paid out on April 28th with investors of record being those who held shares as of Friday, April 7th thus recommending this stock as a positive purchase for investors looking for stability and income-earning opportunities.
In short, though analysts have had differing points of view regarding ChampionX over recent times, the fact that multiple institutional investors have increased their holdings in the company while insider activity has remained active suggests these parties feel positive about its future growth potential. With earnings exceeding or meeting analyst’s projected figures every quarter, investors should expect fiscal responsibility from management going forward.
