Alliance Resource Partners, L.P. (ARLP) Downgraded to “Strong Sell” at BidaskClub

Alliance Resource Partners, L.P. (NASDAQ:ARLP) was downgraded by equities researchers at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Friday.

ARLP has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Alliance Resource Partners, L.P. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. FBR & Co reiterated an “outperform” rating and set a $29.00 price objective (up from $27.00) on shares of Alliance Resource Partners, L.P. in a research note on Tuesday, May 2nd. Finally, ValuEngine downgraded shares of Alliance Resource Partners, L.P. from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Alliance Resource Partners, L.P. presently has a consensus rating of “Buy” and an average price target of $26.93.

Shares of Alliance Resource Partners, L.P. (ARLP) traded up 2.049% during trading on Friday, reaching $18.675. 126,461 shares of the company traded hands. Alliance Resource Partners, L.P. has a 12 month low of $18.15 and a 12 month high of $26.65. The company has a 50-day moving average of $19.68 and a 200-day moving average of $21.67. The stock has a market capitalization of $2.44 billion, a PE ratio of 4.512 and a beta of 0.68.

Alliance Resource Partners, L.P. (NASDAQ:ARLP) last announced its quarterly earnings data on Monday, July 31st. The energy company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.09. The firm had revenue of $398.72 million for the quarter, compared to the consensus estimate of $447.68 million. Alliance Resource Partners, L.P. had a net margin of 19.47% and a return on equity of 34.60%. The business’s revenue for the quarter was down 9.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 earnings per share. Analysts forecast that Alliance Resource Partners, L.P. will post $2.89 earnings per share for the current fiscal year.

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In related news, Director John P. Neafsey purchased 10,000 shares of Alliance Resource Partners, L.P. stock in a transaction dated Monday, August 7th. The shares were bought at an average cost of $19.55 per share, for a total transaction of $195,500.00. Following the purchase, the director now owns 51,604 shares in the company, valued at approximately $1,008,858.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 44.03% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Private Advisor Group LLC acquired a new position in shares of Alliance Resource Partners, L.P. during the first quarter worth about $222,000. Tiedemann Wealth Management LLC raised its position in shares of Alliance Resource Partners, L.P. by 380.2% in the first quarter. Tiedemann Wealth Management LLC now owns 308,077 shares of the energy company’s stock worth $6,670,000 after buying an additional 243,925 shares during the period. Airain ltd acquired a new position in shares of Alliance Resource Partners, L.P. during the first quarter worth about $623,000. Rational Advisors LLC acquired a new position in shares of Alliance Resource Partners, L.P. during the first quarter worth about $271,000. Finally, Magnolia Group LLC raised its position in shares of Alliance Resource Partners, L.P. by 38.7% in the first quarter. Magnolia Group LLC now owns 1,079,078 shares of the energy company’s stock worth $23,362,000 after buying an additional 301,248 shares during the period. Institutional investors and hedge funds own 26.25% of the company’s stock.

Alliance Resource Partners, L.P. Company Profile

Alliance Resource Partners, L.P. is a producer and marketer of coal primarily to the United States utilities and industrial users. The Company operates through segments, including Illinois Basin, Appalachia, and Other and Corporate. The Illinois Basin segment consists of various operating segments, including Webster County Coal, LLC’s Dotiki mining complex, Gibson County Coal, LLC’s mining complex, which includes the Gibson North mine and Gibson South mine, Hopkins County Coal, LLC’s mining complex, which includes the Elk Creek mine, the Pleasant View surface mineable reserves and the Fies property, White County Coal, LLC’s, Pattiki mining complex, Warrior Coal, LLC’s mining complex, Sebree Mining, LLC’s mining complex, which includes the Onton mine and River View Coal, LLC mining complex.

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