Sunday, June 26, 2022

Insider Selling: Blackstone Holdings III L.P., Viper Energy Partners LP [VNOM] 10% Owner divested 50,000 shares

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Viper Energy Partners LP shares valued at $1,769,360 were sold by Blackstone Holdings III L.P. on Jun 08. At $35.39 per share, Blackstone Holdings III L.P. sold 50,000 shares. The insider’s holdings dropped to 940,493 shares worth approximately $24.89 million following the completion of this transaction.


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Also, BX Guidon Topco LLC sold 50,000 shares, netting a total of over 1,769,360 in proceeds. Following the sale of shares at $35.39 each, the insider now holds 940,493 shares.

Before that, Blackstone Holdings III L.P. had sold 80,000 shares from its account. In a trade valued at $2,825,528, the 10% Owner traded Viper Energy Partners LP shares for $35.32 each. Upon closing the transaction, the insider’s holdings decreased to 80,000 shares, worth approximately $26.22 million.

As published in a research note from Morgan Stanley on June 15, 2022, Sonos Inc. [SONO] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $28 from $38. This represents a 30.86% premium over Wednesday’s closing price. Analysts at Jefferies upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in mid August. As of February 12, 2021, Goldman has increased its “Sell” rating to a “Neutral” for SONO. Earlier on October 15, 2020, BofA Securities upgraded its rating. Their new recommendation was “a Buy” for SONO stock which previously was a “a Neutral”.

This represents a 8.72% premium over Wednesday’s closing price. Analysts at Piper Sandler upgraded the stock from ‘”a Neutral”‘ to ‘”an Overweight”‘ outlook in a report released in early April. As of December 04, 2020, Truist has increased its “Hold” rating to a “Buy” for VNOM. Earlier on July 27, 2020, Seaport Global Securities initiated its rating. Their recommendation was “a Neutral” for VNOM stock.

Analyzing VNOM’s Price Performance

On Wednesday, Viper Energy Partners LP [NASDAQ: VNOM] plunged -9.63% to $26.47. The stock’s lowest price that day was $26.40, but it reached a high of $28.50 in the same session. During the last five days, there has been a drop of approximately -20.03%. Over the course of the year, Viper Energy Partners LP shares have jumped approximately 24.21%. Shares of the company reached a 52-week high of $35.85 on 06/08/22 and a 52-week low of $21.44 on 01/03/22. A 50-day SMA is recorded $30.82, while a 200-day SMA reached $26.18. Nevertheless, trading volume fell to 1.26 million shares from 0.86 million shares the previous day.

Support And Resistance Levels for Viper Energy Partners LP (VNOM)

According to the 24-hour chart, there is a support level at 25.75, which, if violated, would cause prices to drop to 25.02. In the upper region, resistance lies at 27.85. The next price resistance is at 29.22. RSI (Relative Strength Index) is 28.38 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.54, which suggests the price will decrease in the coming days. Percent R is at 99.26%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Viper Energy Partners LP subject to short interest?

Stocks of Viper Energy Partners LP saw a sharp steep in short interest on Apr 28, 2022 dropping by -0.22 million shares to 1.02 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 1.24 million shares. A decline of -21.57% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.51 of the overall float, the days-to-cover ratio (short ratio) decline to 2.51.

Which companies own the most shares of Viper Energy Partners LP (VNOM)?

According to Wellington Management Co. LLP filings, the company currently owns 9,132,207 shares, which is about 11.87% of the total VNOM shares outstanding. The investor’s shares have plunged by -509,911 from its previous 13-F filing of 9642118.0 shares. With the completion of the buy, Cardinal Capital Management LLC’s stake is now worth $101,629,580. Fred Alger Management LLC interest valued at $101.1 million while Eagle Asset Management, Inc. purchased a 101,910 stake. A total of -77,317 shares of Viper Energy Partners LP were bought by Massachusetts Financial Services during the quarter, and -77,725 were sold by Newton Investment Management Nort. In its current portfolio, Horizon Kinetics Asset Management holds 2,203,014 shares valued at $73.93 million.

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