Today’s Biggest Stock Market Losers And What To Do With Them

Usa Compression Partners LP (NYSE:USAC)

Investors with Long Positions (as of June 30): 4
Aggregate Value of Investors’ Holdings (as of June 30): $4.2 Million

Lastly is Usa Compression Partners LP (NYSE:USAC), which has fallen by over 11% today after the company announced a public offering of stock, 4.0 million shares in all, priced at $19.33 per unit. The offering, which is expected to raise about $74.4 million following discounts and fees, will be used to pay down the company’s debt. Usa Compression Partners LP (NYSE:USAC) was held by just four hedge funds on June 30, though that was up from the mere two that held it on March 31. Regardless, hedge funds held less than 1% of the company’s outstanding shares, which is quite low for a company in its market cap range (just under $1 billion). Russell Lucas’ Lucas Capital Management had the largest position of those four firms, owning just over 144,000 shares worth $2.76 million. While the news today is nothing untoward and tends to be immediately priced into a stock, given the disinterest in the stock by hedge funds, we don’t recommend it at this time.

Disclosure: None