Financial Strategies Group Inc. Purchases 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. increased its holdings in Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) by 92.8% in the 1st quarter, according to its most recent disclosure with the Securities & 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 quarter.

Several other hedge funds have also recently added to or reduced their stakes in AMR. Millennium Management LLC raised its position in Alpha Metallurgical Resources by 208.0% in the first quarter. Millennium Management LLC now owns 106,107 shares of the energy company's stock worth $13,290,000 after purchasing an additional 71,653 shares in the last quarter. Adage Capital Partners GP L.L.C. acquired a new position in Alpha Metallurgical Resources in the first quarter worth about $6,262,000. Fuller & Thaler Asset Management Inc. raised its position in Alpha Metallurgical Resources by 50.9% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 136,217 shares of the energy company's stock worth $17,061,000 after purchasing an additional 45,934 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Alpha Metallurgical Resources in the first quarter worth about $5,035,000. Finally, Jacobs Levy Equity Management Inc. acquired a new stake in shares of Alpha Metallurgical Resources during the fourth quarter worth approximately $6,958,000. Institutional investors and hedge funds own 84.29% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on AMR shares. Jefferies Financial Group raised their price objective on shares of Alpha Metallurgical Resources from $110.00 to $150.00 and gave the stock a "hold" rating in a report on Monday, August 11th. B. Riley dropped their price objective on shares of Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating for the company in a report on Tuesday, August 5th. Finally, Wall Street Zen raised shares of Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $160.50.

Insider Buying and Selling

In other Alpha Metallurgical Resources news, COO Jason E. Whitehead sold 12,004 shares of the firm'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 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joshua Todd Munsey sold 2,135 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $157.00, for a total transaction of $335,195.00. Following the completion of the transaction, the chief financial officer directly owned 4,466 shares in the company, valued at approximately $701,162. The trade was a 32.34% decrease in their ownership of the stock. 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 2.2%

Shares of AMR traded up $2.99 during mid-day trading on Wednesday, hitting $141.71. 232,422 shares of the company traded hands, compared to its average volume of 333,621. Alpha Metallurgical Resources, Inc. has a one year low of $97.41 and a one year high of $255.04. The business has a 50-day moving average of $133.63 and a 200 day moving average of $125.69. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of -49.72 and a beta of 0.64.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The energy company reported ($0.38) EPS for the quarter, beating the consensus estimate 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 business had revenue of $550.27 million for the quarter, compared to analysts' expectations of $552.15 million. During the same period in the prior year, the firm earned $4.49 earnings per share. Alpha Metallurgical Resources's revenue was down 31.6% compared to the same quarter last year. As a group, analysts anticipate that Alpha Metallurgical Resources, Inc. will post 14.31 earnings per share for the current year.

Alpha Metallurgical Resources Company Profile

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.