Pleasant Lake Partners Exits Position in Hornbeck Offshore Services (HOS)

Hornbeck Offshore Services (HOS) : Pleasant Lake Partners has sold out all of its stake in Hornbeck Offshore Services during the most recent quarter, according to the disclosure filed by the company on Nov 14, 2016 with the SEC. The investment management company has sold out 42,000 shares of Hornbeck Offshore Services which is valued at $194,880.

Other Hedge Funds, Including , Kennedy Capital Management reduced its stake in HOS by selling 32,853 shares or 4.21% in the most recent quarter. The Hedge Fund company now holds 748,226 shares of HOS which is valued at $3,471,769. Hornbeck Offshore Services makes up approx 0.06% of Kennedy Capital Management’s portfolio.Comerica Bank boosted its stake in HOS in the latest quarter, The investment management firm added 399 additional shares and now holds a total of 32,533 shares of Hornbeck Offshore Services which is valued at $150,628. Teacher Retirement System Of Texas sold out all of its stake in HOS during the most recent quarter. The investment firm sold 4,487 shares of HOS which is valued $16,198. Meeder Asset Management Inc sold out all of its stake in HOS during the most recent quarter. The investment firm sold 5,447 shares of HOS which is valued $31,157.

Hornbeck Offshore Services opened for trading at $4.81 and hit $5.03 on the upside on Monday, eventually ending the session at $4.9, with a gain of 3.38% or 0.16 points. The heightened volatility saw the trading volume jump to 5,84,750 shares. Company has a market cap of $178 M.

On the company’s financial health, Hornbeck Offshore Services reported $-0.45 EPS for the quarter, beating the analyst consensus estimate by $ 0.14 according to the earnings call on Nov 2, 2016. Analyst had a consensus of $-0.59. The company had revenue of $51.90 million for the quarter, compared to analysts expectations of $49.73 million. The company’s revenue was down -55.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.21 EPS.

Hornbeck Offshore Services Inc. is a provider of marine transportation subsea installation and accommodation support services to exploration and production oilfield service offshore construction and the United States military customers. The Company focuses on the provision of marine solutions to meet the needs of the deepwater and ultradeepwater energy industry in domestic and select foreign locations. The Company owns and operates a fleet of United States-flagged OSVs and MPSVs. These vessels support the deep-well deepwater and ultra-deepwater activities of the offshore oil and gas industry. The Company operates in three core geographic markets: the Gulf of Mexico (GoM) Mexico and Brazil. The Company has operated in the Middle East the Mediterranean Sea the Black Sea and the Caribbean basin including Nicaragua Guyana Trinidad and Venezuela. The Company also operates a shore-base support facility located in Port Fourchon Louisiana.

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