Alyeska Investment Group L.P. Reduces Stock Position in Alliance Laundry Holdings Inc. $ALH

Key Points

• Alyeska Investment Group reduced its Alliance Laundry position by 33.3% in the second quarter, selling 250,000 shares and retaining 500,000 shares worth approximately $13.26 million.
• Alliance Laundry insiders sold 212,528 shares worth about $5.44 million over the past 90 days, while corporate insiders still own 7.6% of the company.
• Analyst sentiment remains favorable, with a “Moderate Buy” consensus and an average price target of $31.20. The company also exceeded quarterly EPS expectations, reporting $0.41 versus the $0.35 consensus.

Alyeska Investment Group L.P. cut its holdings in Alliance Laundry Holdings Inc. (NYSE:ALH - Free Report) by 33.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 500,000 shares of the company's stock after selling 250,000 shares during the period. Alyeska Investment Group L.P. owned about 0.25% of Alliance Laundry worth $13,260,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ALH. Vanguard Group Inc. purchased a new position in Alliance Laundry in the fourth quarter worth about $76,161,000. UBS Group AG purchased a new stake in Alliance Laundry during the fourth quarter valued at approximately $19,411,000. Comerica Bank bought a new stake in shares of Alliance Laundry in the 4th quarter valued at approximately $50,000. M&T Bank Corp bought a new stake in shares of Alliance Laundry in the 4th quarter valued at approximately $380,000. Finally, Strs Ohio purchased a new position in shares of Alliance Laundry in the 4th quarter worth approximately $157,000.

Insider Transactions at Alliance Laundry

In other news, CAO Brian Christopher Sikora sold 17,500 shares of the firm's stock in a transaction on Tuesday, June 16th. The stock was sold at an average price of $26.15, for a total transaction of $457,625.00. Following the transaction, the chief accounting officer owned 13,951 shares in the company, valued at approximately $364,818.65. This trade represents a 55.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Jan Gommaar M. Vleugels sold 75,000 shares of Alliance Laundry stock in a transaction dated 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 owned 449,563 shares of the company's stock, valued at $11,126,684.25. The trade was a 14.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 212,528 shares of company stock worth $5,439,521. Corporate insiders own 7.60% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on ALH shares. Weiss Ratings restated a "hold (c)" rating on shares of Alliance Laundry in a research report on Friday, August 7th. Citigroup boosted their price objective on shares of Alliance Laundry from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Tuesday, July 14th. Morgan Stanley raised their target price on shares of Alliance Laundry from $27.00 to $28.00 and gave the stock an "equal weight" rating in a report on Friday, May 29th. BMO Capital Markets lifted their price target 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. Finally, Zacks Research downgraded shares of Alliance Laundry from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Alliance Laundry currently has an average rating of "Moderate Buy" and an average price target of $31.20.

Alliance Laundry Stock Performance

Shares of Alliance Laundry stock opened at $22.86 on Tuesday. The company has a quick ratio of 1.14, a current ratio of 1.43 and a debt-to-equity ratio of 3.35. The stock's fifty day moving average is $25.55 and its two-hundred day moving average is $24.25. Alliance Laundry Holdings Inc. has a 52 week low of $18.64 and a 52 week high of $28.23. The company has a market capitalization of $4.54 billion and a PE ratio of 25.12.

Alliance Laundry (NYSE:ALH - Get Free Report) last issued its earnings results on Thursday, August 13th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.06. The firm had revenue of $476.75 million during the quarter. Alliance Laundry had a net margin of 10.08% and a return on equity of 81.92%. As a group, analysts expect that Alliance Laundry Holdings Inc. will post 1.34 earnings per share for the current year.

Alliance Laundry Company 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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