Rubric Capital Management LP Reduces Stake in Par Pacific Holdings, Inc. (NYSE:PARR) – Form 13F Filing Analysis
Rubric Capital Management LP, a prominent institutional investor, has made significant changes to its position in Par Pacific Holdings, Inc. (NYSE:PARR). According to the latest Form 13F filing with the Securities and Exchange Commission, Rubric Capital Management LP reduced its stake in Par Pacific by 39.2% during the fourth quarter. This move saw the investor selling 772,432 shares of the company’s stock, leaving them with 1,199,749 shares at the end of the reporting period.
Par Pacific Holdings, Inc. now accounts for about 0.9% of Rubric Capital Management LP’s investment portfolio, making it the 25th largest position for the investor. The value of the stake in Par Pacific was reported to be $43,635,000 at the end of the reporting period.
This news comes amidst other hedge funds also making changes to their positions in PARR. McGlone Suttner Wealth Management Inc. purchased a new stake in Par Pacific, while Quadrant Capital Group LLC and Quantbot Technologies LP increased their positions in the company. Overall, 92.15% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Par Pacific traded up 0.9% during midday trading on Friday, reaching $25.21. The company has a market cap of $1.46 billion and a P/E ratio of 3.16. Analysts expect Par Pacific Holdings, Inc. to post 3.71 EPS for the current year.
In related news, insider buying and selling activities were also reported. CAO Ivan Daniel Guerra sold 6,000 shares of the stock, while insider Jeffrey Ryan Hollis sold 4,700 shares. 4.40% of the stock is owned by insiders.
Par Pacific Holdings, Inc. operates energy and infrastructure businesses through its Refining, Retail, and Logistics segments. The company owns and operates refineries that produce various products for consumption in different locations.
Overall, the changes in Rubric Capital Management LP’s position in Par Pacific Holdings, Inc. and the related insider activities indicate a dynamic period for the company. Investors and analysts will be closely watching how these developments impact the stock in the coming days.
