Raging Capital Management LLC increased its position in CVR Partners, LP (NYSE:UAN) by 1,000.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,466,876 shares of the basic materials company’s stock after buying an additional 7,697,736 shares during the period. CVR Partners, accounts for about 4.0% of Raging Capital Management LLC’s holdings, making the stock its 5th largest position. Raging Capital Management LLC owned approximately 7.47% of CVR Partners, worth $39,371,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in UAN. VIEX Capital Advisors LLC purchased a new position in shares of CVR Partners, during the first quarter valued at about $2,259,000. Global X Management Co. LLC boosted its position in shares of CVR Partners, by 10.7% in the first quarter. Global X Management Co. LLC now owns 39,475 shares of the basic materials company’s stock valued at $184,000 after buying an additional 3,825 shares during the period. Walthausen & Co. LLC boosted its position in shares of CVR Partners, by 330.9% in the first quarter. Walthausen & Co. LLC now owns 942,827 shares of the basic materials company’s stock valued at $4,384,000 after buying an additional 724,017 shares during the period. FMR LLC purchased a new position in shares of CVR Partners, during the first quarter valued at about $4,921,000. Finally, Private Advisor Group LLC boosted its position in shares of CVR Partners, by 46.6% in the first quarter. Private Advisor Group LLC now owns 22,142 shares of the basic materials company’s stock valued at $105,000 after buying an additional 7,042 shares during the period. 22.67% of the stock is owned by institutional investors and hedge funds.
CVR Partners, LP (NYSE:UAN) traded up 0.78% during midday trading on Friday, reaching $3.86. The company’s stock had a trading volume of 128,263 shares. The firm’s market capitalization is $437.27 million. CVR Partners, LP has a 1-year low of $3.38 and a 1-year high of $8.41. The firm has a 50 day moving average price of $4.41 and a 200 day moving average price of $5.21.
CVR Partners, (NYSE:UAN) last announced its quarterly earnings results on Thursday, April 27th. The basic materials company reported ($0.09) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by $0.07. CVR Partners, had a negative net margin of 14.98% and a negative return on equity of 5.85%. The company had revenue of $85.30 million during the quarter, compared to the consensus estimate of $90.04 million. During the same quarter last year, the company earned $0.25 earnings per share. The business’s revenue was up 16.7% on a year-over-year basis. On average, analysts predict that CVR Partners, LP will post ($0.14) EPS for the current year.
Several brokerages recently issued reports on UAN. Zacks Investment Research cut CVR Partners, from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. Goldman Sachs Group, Inc. (The) upgraded CVR Partners, from a “neutral” rating to a “buy” rating and set a $6.00 target price on the stock in a research note on Monday, March 20th. TheStreet cut CVR Partners, from a “c-” rating to a “d+” rating in a research note on Thursday, May 25th. Finally, ValuEngine upgraded CVR Partners, from a “strong sell” rating to a “sell” rating in a research note on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $6.00.
About CVR Partners,
CVR Partners, LP is a limited partnership formed by CVR Energy, Inc (CVR Energy) to own, operate and grow its nitrogen fertilizer business. The Company produces and distributes nitrogen fertilizer products, which are used by farmers to manage the yield and quality of their crops. As of December 31, 2016, the Company produced its nitrogen fertilizer products at two manufacturing facilities, located in Coffeyville, Kansas and East Dubuque, Illinois.
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