Alliance Resource Partners, L.P. (NASDAQ:ARLP) Short Interest Down 27.4% in March

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Alliance Resource Partners, L.P. (NASDAQ:ARLP) saw a significant drop in short interest in the month of March. As of March 13th, there was short interest totalling 1,903,000 shares, a drop of 27.4% from the February 27th total of 2,620,000 shares. Approximately 2.3% of the shares of the company are short sold. Based on an average daily trading volume, of 744,000 shares, the days-to-cover ratio is currently 2.6 days.

ARLP stock opened at $3.75 on Friday. The firm has a market cap of $489.68 million, a PE ratio of 1.23 and a beta of 1.02. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.12 and a current ratio of 1.63. The firm’s fifty day moving average is $6.30 and its 200 day moving average is $10.76. Alliance Resource Partners has a one year low of $3.03 and a one year high of $20.65.

Alliance Resource Partners (NASDAQ:ARLP) last announced its earnings results on Monday, January 27th. The energy company reported $0.20 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.20. Alliance Resource Partners had a net margin of 20.36% and a return on equity of 20.17%. The business had revenue of $453.30 million for the quarter, compared to analyst estimates of $463.00 million. During the same quarter last year, the business earned $0.63 earnings per share. The company’s revenue for the quarter was down 14.8% compared to the same quarter last year. Research analysts predict that Alliance Resource Partners will post 0.69 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Magnolia Group LLC grew its position in shares of Alliance Resource Partners by 49.8% in the fourth quarter. Magnolia Group LLC now owns 4,555,347 shares of the energy company’s stock valued at $49,289,000 after purchasing an additional 1,515,354 shares during the period. Adams Asset Advisors LLC grew its position in shares of Alliance Resource Partners by 75.1% in the fourth quarter. Adams Asset Advisors LLC now owns 491,993 shares of the energy company’s stock valued at $5,323,000 after purchasing an additional 211,090 shares during the period. Capital One National Association acquired a new stake in shares of Alliance Resource Partners in the fourth quarter valued at about $4,318,000. Meritage Portfolio Management grew its position in shares of Alliance Resource Partners by 31.4% in the fourth quarter. Meritage Portfolio Management now owns 209,030 shares of the energy company’s stock valued at $2,262,000 after purchasing an additional 49,946 shares during the period. Finally, Rafferty Asset Management LLC grew its position in shares of Alliance Resource Partners by 48.1% in the fourth quarter. Rafferty Asset Management LLC now owns 187,389 shares of the energy company’s stock valued at $2,028,000 after purchasing an additional 60,870 shares during the period. Institutional investors and hedge funds own 20.45% of the company’s stock.

ARLP has been the topic of several analyst reports. Zacks Investment Research lowered shares of Alliance Resource Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, March 17th. B. Riley dropped their price target on shares of Alliance Resource Partners from $11.00 to $7.00 and set a “neutral” rating on the stock in a research report on Tuesday. BidaskClub lowered shares of Alliance Resource Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, February 4th. Benchmark initiated coverage on shares of Alliance Resource Partners in a research report on Tuesday, February 4th. They set a “buy” rating on the stock. Finally, ValuEngine upgraded shares of Alliance Resource Partners from a “sell” rating to a “hold” rating in a research report on Friday, March 20th. Two analysts have rated the stock with a sell rating, four have given a hold rating and two have given a buy rating to the company’s stock. Alliance Resource Partners currently has a consensus rating of “Hold” and a consensus target price of $17.50.

About Alliance Resource Partners

Alliance Resource Partners, L.P. produces and markets coal primarily to utilities and industrial users in the United States. The company operates through two segments, Illinois Basin and Appalachia. It produces a range of steam and metallurgical coal with sulfur and heat contents. The company operates eight underground mining complexes in Illinois, Indiana, Kentucky, Maryland, and West Virginia.

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