American Resources (NASDAQ:AREC) Major Shareholder Properties Ltd. Golden Sells 20,000 Shares

Key Points

• Properties Ltd. Golden, a major shareholder of American Resources, sold 20,000 shares at an average price of $4.12, resulting in a total transaction of $82,400, which decreased their ownership stake by 0.18%.
• American Resources reported (-$0.10) EPS for the last quarter, missing the analysts' estimates, with revenues of only $0.01 million against expectations of $16.40 million.
• Following recent trades, institutional investors have increased their stakes significantly, with Virtu Financial LLC growing its position by 271.3% in the first quarter and other firms also acquiring notable shares during the second quarter.

American Resources Corporation (NASDAQ:AREC - Get Free Report) major shareholder Properties Ltd. Golden sold 20,000 shares of the company's stock in a transaction on Monday, October 20th. The shares were sold at an average price of $4.12, for a total transaction of $82,400.00. Following the sale, the insider owned 11,389,960 shares of the company's stock, valued at $46,926,635.20. This represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their transactions with the SEC.

Properties Ltd. Golden also recently made the following trade(s):

• On Friday, October 17th, Properties Ltd. Golden sold 980,000 shares of American Resources stock. The shares were sold at an average price of $4.06, for a total transaction of $3,978,800.00.

American Resources Stock Performance

NASDAQ:AREC traded up $0.73 during midday trading on Monday, reaching $4.73. 18,446,152 shares of the stock traded hands, compared to its average volume of 4,403,997. The company has a fifty day moving average of $2.65 and a 200 day moving average of $1.53. American Resources Corporation has a 12 month low of $0.38 and a 12 month high of $7.11. The stock has a market capitalization of $400.21 million, a P/E ratio of -9.65 and a beta of 1.14.

American Resources (NASDAQ:AREC - Get Free Report) last issued its quarterly earnings data on Tuesday, August 19th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.05). The business had revenue of $0.01 million for the quarter, compared to analyst estimates of $16.40 million. On average, analysts predict that American Resources Corporation will post -0.38 EPS for the current fiscal year.

Institutional Trading of American Resources

Institutional investors have recently bought and sold shares of the company. Virtu Financial LLC grew its position in American Resources by 271.3% during the 1st quarter. Virtu Financial LLC now owns 101,913 shares of the company's stock valued at $48,000 after purchasing an additional 74,464 shares during the last quarter. Jane Street Group LLC purchased a new stake in American Resources during the 2nd quarter valued at about $139,000. JPMorgan Chase & Co. grew its position in American Resources by 86,418.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company's stock valued at $102,000 after purchasing an additional 122,714 shares during the last quarter. XTX Topco Ltd purchased a new stake in American Resources during the 2nd quarter valued at about $33,000. Finally, Creative Planning grew its position in American Resources by 65.5% during the 2nd quarter. Creative Planning now owns 37,892 shares of the company's stock valued at $31,000 after purchasing an additional 15,000 shares during the last quarter. 9.32% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on AREC shares. William Blair started coverage on shares of American Resources in a research report on Monday. They set an "outperform" rating on the stock. D. Boral Capital started coverage on shares of American Resources in a research report on Monday, September 15th. They set a "buy" rating and a $6.00 price objective on the stock. Weiss Ratings reissued a "sell (d-)" rating on shares of American Resources in a research report on Wednesday, October 8th. Wall Street Zen raised shares of American Resources from a "sell" rating to a "hold" rating in a research report on Sunday, September 28th. Finally, D Boral Capital raised shares of American Resources to a "strong-buy" rating in a research report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, American Resources presently has an average rating of "Moderate Buy" and a consensus target price of $5.50.

American Resources Company Profile

American Resources Corporation, together with its subsidiaries, extracts, processes, transports, and sells metallurgical coal to the steel and industrial industries. It supplies raw materials; and sells coal used in pulverized coal injections. The company was founded in 2006 and is headquartered in Fishers, Indiana.

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