Alpha Metallurgical Resources (NYSE:AMR) Shares Down 4.8% After Insider Selling

Key Points

• Alpha Metallurgical Resources stock fell by 4.8% after insider sales by CFO Joshua Todd Munsey and COO Jason E. Whitehead, indicating potential market concern over management confidence.
• Recent changes in analyst ratings show Jefferies Financial Group raised its price target while Wall Street Zen downgraded the stock, highlighting mixed investor sentiment.
• The company reported a quarterly revenue of $550.27 million, down 31.6% year-over-year, with a significant earnings surprise but still a negative net margin.

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) shares traded down 4.8% during mid-day trading on Friday after an insider sold shares in the company. The company traded as low as $151.91 and last traded at $152.14. 84,498 shares traded hands during trading, a decline of 74% from the average session volume of 330,472 shares. The stock had previously closed at $159.76.

Specifically, CFO Joshua Todd Munsey sold 2,135 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $157.00, for a total transaction of $335,195.00. Following the transaction, the chief financial officer owned 4,466 shares of the company's stock, valued at $701,162. The trade was a 32.34% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Jason E. Whitehead sold 12,004 shares of the business's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $161.84, for a total value of $1,942,727.36. Following the completion of the sale, the chief operating officer owned 9,673 shares of the company's stock, valued at approximately $1,565,478.32. This trade represents a 55.38% decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Ratings Changes

A number of equities research analysts have weighed in on AMR shares. Jefferies Financial Group raised their target price on Alpha Metallurgical Resources from $110.00 to $150.00 and gave the company a "hold" rating in a report on Monday, August 11th. Wall Street Zen raised Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research report on Saturday. Finally, B. Riley decreased their price objective on Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating for the company in a report on Tuesday, August 5th.

Alpha Metallurgical Resources Price Performance

The stock has a market cap of $1.82 billion, a P/E ratio of -48.90 and a beta of 0.59. The firm's fifty day moving average price is $122.49 and its two-hundred day moving average price is $128.90.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted its earnings results on Friday, August 8th. The energy company reported ($0.38) earnings per share for the quarter, topping analysts' consensus estimates of ($2.38) by $2.00. Alpha Metallurgical Resources had a negative net margin of 1.57% and a negative return on equity of 2.28%. The company had revenue of $550.27 million during the quarter, compared to analyst estimates of $552.15 million. During the same period in the prior year, the business posted $4.49 earnings per share. Alpha Metallurgical Resources's revenue for the quarter was down 31.6% on a year-over-year basis. On average, research analysts expect that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several institutional investors and hedge funds have recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Alpha Metallurgical Resources by 27.2% during the 2nd quarter. State Street Corp now owns 865,934 shares of the energy company's stock worth $97,400,000 after acquiring an additional 185,281 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Alpha Metallurgical Resources by 4.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 736,379 shares of the energy company's stock valued at $147,366,000 after purchasing an additional 28,225 shares during the last quarter. Dalal Street LLC grew its holdings in Alpha Metallurgical Resources by 11.0% during the 2nd quarter. Dalal Street LLC now owns 460,327 shares of the energy company's stock valued at $51,778,000 after purchasing an additional 45,711 shares during the last quarter. American Century Companies Inc. boosted its position in Alpha Metallurgical Resources by 3.4% in the 2nd quarter. American Century Companies Inc. now owns 394,334 shares of the energy company's stock valued at $44,355,000 after buying an additional 12,884 shares during the period. Finally, Gendell Jeffrey L boosted its position in Alpha Metallurgical Resources by 30.9% in the 2nd quarter. Gendell Jeffrey L now owns 296,396 shares of the energy company's stock valued at $33,339,000 after buying an additional 69,950 shares during the period. Institutional investors own 84.29% of the company's stock.

About Alpha Metallurgical Resources

Alpha Metallurgical Resources, Inc, a mining company, produces, processes, and sells met and thermal coal in Virginia and West Virginia. The company offers metallurgical coal products. It operates twenty-two active mines and nine coal preparation and load-out facilities. The company was formerly known as Contura Energy, Inc and changed its name to Alpha Metallurgical Resources, Inc in February 2021.