Approach Resources, Inc. (AREX) loses confidence of 18 hedge fund managers

Approach Resources, Inc. (NASDAQ:AREX) is on recovery track with 23.83% gain from a 1-year low price of $1.93. The company added 5.75% to attain the price of $2.39 on 11/29/2017. Throughout the recent session, the prices were hovering between $2.24 and $2.4. These shares are 11.3% off its target price of $2.66 and the current market capitalization stands at $208.58M. The recent change has given its price a -0.99% deficit over SMA 50 and -44.84% deficit over its 52-week high. The stock witnessed 3.91% gains, -7.36% declines and -5.16% declines for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found AREX’s volatility during a week at 5.4% and during a month it has been found around 5.17%.

Approach Resources, Inc. (AREX) Top Holders

Institutional investors currently hold around $48 million or 72.9% in AREX stock. Look at its top three institutional owners. Blackrock Inc. owns $7.47 million in Approach Resources, Inc., which represents roughly 3.58% of the company’s market cap and approximately 15.55% of the institutional ownership. Similar statistics are true for the second largest owner, Guggenheim Capital Llc, which owns 2,160,939 shares of the stock are valued at $4.88 million. The third largest holder is New Generation Advisors, Llc, which currently holds $4.6 million worth of this stock and that ownership represents nearly 2.2% of its market capitalization.

Approach Resources, Inc. 13F Filings

At the end of 09/30/2017 reporting period, 36 institutional holders increased their position in Approach Resources, Inc. (NASDAQ:AREX) by some 3,100,082 shares, 36 decreased positions by 2,909,742 and 22 held positions by 15,301,187. That puts total institutional holdings at 21,311,011 shares, according to SEC filings. The stock grabbed 12 new institutional investments totaling 2,349,578 shares while 18 institutional investors sold out their entire positions totaling 1,477,894 shares.

Approach Resources, Inc. (NASDAQ:AREX) Insider Trades

Multiple company employees have indulged in significant insider trading. Approach Resources, Inc. disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Wilks Brothers, Llc has acquired 100,000 shares of Approach Resources, Inc. (AREX) in trading session dated Jun. 22, 2017. These shares are worth $242,000 and were traded at $2.42 each. The SEC filing shows that Wilks Brothers, Llc performed a purchase of 288,000 shares. The added these shares by way of transaction on Jun. 21, 2017. The company’s shares were assimilated at $2.58 per share worth to an investment of some $743,040 on account of Wilks Brothers, Llc.

, Wilks Brothers, Llc, purchased 300,000 common shares of Approach Resources, Inc. (AREX) in the open market. In a transaction dated Jun. 16, 2017, the shares were bought at an average price of $2.79, giving away a sum of $837,000. After this purchase, 35,401,300 common shares of AREX are directly owned by the insider, with total stake valued at $84,609,107.

In the transaction dated Jun. 13, 2017, the great number of shares acquired came courtesy the ; Wilks Brothers, Llc added a total of 350,000 shares at an average price of $2.77, amounting to approximately $969,500. The insider now directly owns 35,101,300 shares worth $83,892,107.

Approach Resources, Inc. (AREX) Analyst Guide

Several analysts have released their opinion on Approach Resources, Inc. (NASDAQ:AREX), with 0 analysts believing it is a strong buy. Whereas 4 of them predict the stock is a hold. Also, there are 1 buy, 0 sell and 1 strong sell ratings, collectively assigning a 3.17 average brokerage recommendation.

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