Financial Strategies Group Inc. Acquires 3,021 Shares of Alpha Metallurgical Resources, Inc. $AMR

Key Points

• Financial Strategies Group Inc. increased its holdings in Alpha Metallurgical Resources by 92.8%, now owning 6,278 shares valued at $741,000.
• Several hedge funds also boosted their stakes, including Millennium Management LLC which raised its position by 208%, holding 106,107 shares valued at $13.29 million.
• Alpha Metallurgical reported an EPS of ($0.38) for the quarter, beating analysts' expectations of ($2.38), but experienced a year-over-year revenue decline of 31.6%.

Financial Strategies Group Inc. lifted its stake in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) by 92.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,278 shares of the energy company's stock after purchasing an additional 3,021 shares during the period. Financial Strategies Group Inc.'s holdings in Alpha Metallurgical Resources were worth $741,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. AdvisorNet Financial Inc lifted its holdings in Alpha Metallurgical Resources by 214.3% in the first quarter. AdvisorNet Financial Inc now owns 220 shares of the energy company's stock valued at $28,000 after buying an additional 150 shares during the period. Signaturefd LLC lifted its holdings in Alpha Metallurgical Resources by 306.1% in the first quarter. Signaturefd LLC now owns 199 shares of the energy company's stock valued at $25,000 after buying an additional 150 shares during the period. Hi Line Capital Management LLC lifted its holdings in Alpha Metallurgical Resources by 2.1% in the first quarter. Hi Line Capital Management LLC now owns 11,551 shares of the energy company's stock valued at $1,447,000 after buying an additional 242 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Alpha Metallurgical Resources by 4.3% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 6,253 shares of the energy company's stock valued at $1,251,000 after purchasing an additional 257 shares in the last quarter. Finally, Yousif Capital Management LLC increased its stake in Alpha Metallurgical Resources by 6.6% in the first quarter. Yousif Capital Management LLC now owns 4,303 shares of the energy company's stock valued at $539,000 after purchasing an additional 265 shares in the last quarter. 84.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on AMR. Wall Street Zen raised shares of Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. B. Riley lowered their target price on shares of Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating for the company in a research note on Tuesday, August 5th. Finally, Jefferies Financial Group increased their price objective on shares of Alpha Metallurgical Resources from $110.00 to $150.00 and gave the stock a "hold" rating in a research report on Monday, August 11th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Alpha Metallurgical Resources currently has an average rating of "Hold" and a consensus price target of $160.50.

Insiders Place Their Bets

In related news, CFO Joshua Todd Munsey sold 2,135 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $157.00, for a total value of $335,195.00. Following the completion of the transaction, the chief financial officer owned 4,466 shares of the company's stock, valued at approximately $701,162. This trade represents a 32.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Jason E. Whitehead sold 12,004 shares of the firm's stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $161.84, for a total transaction of $1,942,727.36. Following the completion of the transaction, the chief operating officer directly 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 position. The disclosure for this sale can be found here. 16.00% of the stock is currently owned by company insiders.

Alpha Metallurgical Resources Trading Up 0.7%

Shares of AMR stock traded up $1.06 during trading hours on Friday, hitting $143.18. 90,325 shares of the company were exchanged, compared to its average volume of 331,245. The business has a 50 day moving average of $134.17 and a two-hundred day moving average of $125.59. Alpha Metallurgical Resources, Inc. has a 52 week low of $97.41 and a 52 week high of $255.04. The company has a market capitalization of $1.87 billion, a PE ratio of -50.24 and a beta of 0.64.

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

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.