Emerald Mutual Fund Advisers Trust Has $909,000 Position in Flowco Holdings Inc. $FLOC

Emerald Mutual Fund Advisers Trust lowered its stake in shares of Flowco Holdings Inc. (NYSE:FLOC) by 62.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,059 shares of the company’s stock after selling 85,845 shares during the quarter. Emerald Mutual Fund Advisers Trust owned about 0.06% of Flowco worth $909,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in FLOC. Strs Ohio acquired a new stake in shares of Flowco during the 1st quarter worth $92,000. New York State Common Retirement Fund acquired a new stake in shares of Flowco during the 1st quarter worth $156,000. Y Intercept Hong Kong Ltd acquired a new stake in Flowco during the second quarter worth about $208,000. Corebridge Financial Inc. acquired a new stake in Flowco during the first quarter worth about $247,000. Finally, Deutsche Bank AG acquired a new stake in Flowco during the first quarter worth about $292,000.

Analyst Ratings Changes

FLOC has been the topic of several analyst reports. Jefferies Financial Group set a $28.00 price target on shares of Flowco and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Evercore ISI reduced their target price on Flowco from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Wednesday, August 6th. Piper Sandler reduced their target price on Flowco from $33.00 to $28.00 and set an “overweight” rating on the stock in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Flowco in a report on Tuesday, October 14th. Finally, Zacks Research lowered Flowco from a “hold” rating to a “strong sell” rating in a research note on Friday, October 17th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.40.

Flowco Stock Performance

Shares of Flowco stock opened at $15.96 on Friday. Flowco Holdings Inc. has a fifty-two week low of $14.03 and a fifty-two week high of $30.50. The company has a debt-to-equity ratio of 1.19, a current ratio of 3.25 and a quick ratio of 1.57. The firm has a market capitalization of $1.44 billion and a P/E ratio of 3.48. The company’s 50 day moving average price is $15.62 and its two-hundred day moving average price is $17.42.

Flowco (NYSE:FLOC) last issued its earnings results on Tuesday, August 5th. The company reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.94. The company had revenue of $193.21 million during the quarter, compared to analyst estimates of $190.16 million. On average, equities analysts forecast that Flowco Holdings Inc. will post 1.54 earnings per share for the current fiscal year.

Flowco Company Profile

We are a leading provider of production optimization, artificial lift and methane abatement solutions for the oil and natural gas industry. Our products and services include a full range of equipment and technology solutions that enable our customers to efficiently and cost-effectively maximize the profitability and economic lifespan of the production phase of their operations.