57,851 Shares in Alliance Laundry Holdings Inc. $ALH Acquired by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company acquired 57,851 Alliance Laundry shares in the second quarter, valued at approximately $1.53 million. Several other institutional investors also established or expanded positions.
• Alliance Laundry insiders sold 212,528 shares worth $5.44 million over the past three months, including substantial sales by COO Gommaar Vleugels and Amanda Kopetsky, conducted under pre-arranged Rule 10b5-1 plans.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and a $31.20 price target. The company also exceeded quarterly EPS expectations, reporting $0.41 versus the $0.35 consensus estimate.

The Manufacturers Life Insurance Company acquired a new stake in Alliance Laundry Holdings Inc. (NYSE:ALH - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 57,851 shares of the company's stock, valued at approximately $1,534,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. California State Teachers Retirement System grew its holdings in Alliance Laundry by 1,683.8% in the first quarter. California State Teachers Retirement System now owns 48,001 shares of the company's stock valued at $996,000 after purchasing an additional 45,310 shares during the last quarter. Element Capital Management LLC purchased a new stake in shares of Alliance Laundry in the 4th quarter worth about $2,544,000. Deutsche Bank AG purchased a new stake in shares of Alliance Laundry in the 2nd quarter worth about $1,187,000. Norges Bank acquired a new stake in Alliance Laundry in the 4th quarter valued at about $55,962,000. Finally, Swiss National Bank acquired a new stake in Alliance Laundry in the 1st quarter valued at about $2,024,000.

Insider Activity

In other Alliance Laundry news, COO Gommaar Vleugels sold 75,000 shares of Alliance Laundry stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $24.75, for a total value of $1,856,250.00. Following the completion of the sale, the chief operating officer directly owned 449,563 shares of the company's stock, valued at approximately $11,126,684.25. The trade was a 14.30% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amanda Kopetsky sold 13,472 shares of the business's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $27.00, for a total value of $363,744.00. Following the completion of the transaction, the insider owned 7,331 shares of the company's stock, valued at $197,937. This trade represents a 64.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 212,528 shares of company stock worth $5,439,521 in the last three months. 7.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on ALH shares. Citigroup lifted their target price on shares of Alliance Laundry from $30.00 to $31.00 and gave the stock a "buy" rating in a research report on Tuesday, July 14th. Morgan Stanley increased their price target on shares of Alliance Laundry from $27.00 to $28.00 and gave the company an "equal weight" rating in a research report on Friday, May 29th. BMO Capital Markets raised their price objective on shares of Alliance Laundry from $30.00 to $31.00 and gave the stock an "outperform" rating in a research note on Monday, August 17th. JPMorgan Chase & Co. lifted their price objective on Alliance Laundry from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Friday, August 14th. Finally, Zacks Research lowered Alliance Laundry from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.20.

Alliance Laundry Trading Up 1.0%

Alliance Laundry stock opened at $22.66 on Friday. The stock has a 50-day moving average price of $25.32 and a 200 day moving average price of $24.23. Alliance Laundry Holdings Inc. has a 52 week low of $18.64 and a 52 week high of $28.23. The stock has a market cap of $4.50 billion and a PE ratio of 24.90. The company has a current ratio of 1.43, a quick ratio of 1.14 and a debt-to-equity ratio of 3.35.

Alliance Laundry (NYSE:ALH - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06. The company had revenue of $476.75 million for the quarter. Alliance Laundry had a net margin of 10.08% and a return on equity of 81.92%. Equities research analysts predict that Alliance Laundry Holdings Inc. will post 1.34 earnings per share for the current fiscal year.

Alliance Laundry Profile

Alliance Laundry Systems NYSE: ALH is a manufacturer and distributor of commercial and residential laundry equipment and related services. The company designs, produces and sells a range of coin-operated and vended machines, on-premises washers and dryers, and allied equipment for laundromats, multi-housing, hospitality, healthcare and other institutional customers. Alliance’s product strategy emphasizes durable, high-throughput machines for professional laundry operators as well as appliances geared to self-service and multi-dwelling applications.

Its product portfolio includes coin-operated and card-operated washers and dryers, stacked and single-pocket models, industrial-grade on-premises equipment, and parts and accessories.

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