Here’s Why These Five Stocks Are on the Move Today

Hi-Crush Partners Retreats on Public Offering

Hi-Crush Partners LP (NYSE:HCLP) is trading lower after the integrated producer and distributor of fracking sand announced a primary public offering of 3 million common units and an additional 30 day option for underwriters of up to 450,000 common units. The underwriter intends to offer the units to be sold in the offering in one or more transactions on the NYSE, in the OTC market, or through negotiated transactions. Hi-Crush will use the net proceeds for general partnership purposes. Among the funds we track, eight funds owned $8.1 million worth of Hi-Crush Partners LP (NYSE:HCLP)’s shares, which accounted for 4.40% of the float on March 31.

Stone Energy Higher on Filing

Stone Energy Corporation (NYSE:SGY) has gained over 9% since the opening, after the company entered into an amendment with various institutions to, among other things, increase the borrowing base to $360 million from $300 million, provide no redetermination of the borrowing base until January 15, 2017 other than an automatic reduction upon the sale of certain of the Company’s properties, and permit second lien indebtedness to refinance the existing convertible notes and senior unsecured notes. More financing is always good for companies in a tight spot. Overall, 15 funds followed by Insider Monkey had a long position in Stone Energy Corporation (NYSE:SGY) at the end of the first quarter, unchanged over the quarter.

Arctic Cat Gets a Favorable Ruling

Arctic Cat Inc (NASDAQ:ACAT) is in the spotlight after a court ruled that Bombardier Recreational Products willfully infringed upon Arctic Cat’s safety technology patents and the court judge awarded triple damages of $46.7 million against BRP. Given that a jury initially awarded Arctic Cat $15 million for the infringement, a federal judge tripling the damages is always good news for shareholders. The number of elite funds tracked by us with holdings in Arctic Cat Inc (NASDAQ:ACAT) fell by four quarter-over-quarter to four at the end of March.

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