Balyasny Asset Management Boosts Emerge Energy Services Stake ~ market folly

Tuesday, November 29, 2016

Balyasny Asset Management Boosts Emerge Energy Services Stake

Dmitry Balyasny's hedge fund firm Balyasny Asset Management has filed a 13G with the SEC regarding shares of Emerge Energy Services (EMES).  Per the filing, Balyasny now owns 8.2% of EMES with 2.26 million shares.

This is an increase in their position size by over 1 million shares since the end of the third quarter when they owned 1.17 million shares.  The filing was made due to activity on November 18th.

For more from this fund, we've highlighted other recent portfolio activity from Balyasny here.

Per Google Finance, Emerge Energy Services "owns, operates, acquires and develops a portfolio of energy service assets. The Company's segments include Sand segment, Fuel segment and Corporate. The Company's Sand segment consists of the production and sale of various grades of industrial sand primarily used in the extraction of oil and natural gas, as well as the production of building products and foundry materials. Its Fuel segment operates approximately two terminals and over two transmix processing facilities that are located in the Dallas-Fort Worth, Texas area and Birmingham, Alabama. In addition to refining transmix, the Fuel segment sells a suite of complementary fuel products and services, including third-party terminaling services, certain reclamation services and blending of renewable fuels. The Company's other services include blending of renewable fuels into petroleum products, and the manufacture of biodiesel at its Birmingham facility."

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