Renaissance Technologies LLC Raises Position in Alliance Laundry Holdings Inc. $ALH

Key Points

• Renaissance Technologies increased its Alliance Laundry stake by 24.6% in the first quarter, acquiring 40,900 additional shares and ending with 207,300 shares valued at approximately $4.3 million.
• Alliance Laundry reported quarterly EPS of $0.31, ahead of the $0.27 analyst consensus, while revenue rose 9.6% year over year to $426.89 million.
• The stock traded at $27.62, while analysts maintained a consensus “Hold” rating and an average price target of $30.33; several insiders also sold shares under pre-arranged trading plans.

Renaissance Technologies LLC increased its stake in Alliance Laundry Holdings Inc. (NYSE:ALH - Free Report) by 24.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 207,300 shares of the company's stock after buying an additional 40,900 shares during the quarter. Renaissance Technologies LLC owned about 0.10% of Alliance Laundry worth $4,299,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Sei Investments Co. grew its position in Alliance Laundry by 9.4% in the first quarter. Sei Investments Co. now owns 266,884 shares of the company's stock valued at $5,535,000 after acquiring an additional 22,988 shares in the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Alliance Laundry by 74.5% during the first quarter. PNC Financial Services Group Inc. now owns 1,424 shares of the company's stock worth $30,000 after purchasing an additional 608 shares in the last quarter. Dimensional Fund Advisors LP acquired a new position in shares of Alliance Laundry during the first quarter worth $205,000. Swiss National Bank purchased a new position in shares of Alliance Laundry in the first quarter valued at $2,024,000. Finally, Bank of New York Mellon Corp grew its holdings in Alliance Laundry by 9.9% during the 1st quarter. Bank of New York Mellon Corp now owns 124,622 shares of the company's stock valued at $2,585,000 after purchasing an additional 11,274 shares in the last quarter.

Alliance Laundry Trading Down 1.4%

NYSE ALH opened at $27.62 on Friday. The company has a market capitalization of $5.49 billion and a price-to-earnings ratio of 33.28. The company has a debt-to-equity ratio of 4.00, a current ratio of 1.37 and a quick ratio of 1.05. Alliance Laundry Holdings Inc. has a 12 month low of $18.64 and a 12 month high of $28.23. The company's fifty day moving average price is $25.94 and its two-hundred day moving average price is $23.99.

Alliance Laundry (NYSE:ALH - Get Free Report) last issued its earnings results on Tuesday, May 12th. The company reported $0.31 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.27 by $0.04. The company had revenue of $426.89 million during the quarter. The business's quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.20 EPS. As a group, research analysts predict that Alliance Laundry Holdings Inc. will post 1.29 earnings per share for the current fiscal year.

Insider Transactions at Alliance Laundry

In other news, insider Samantha Leigh Hannan sold 6,000 shares of the business's stock in a transaction that occurred on Monday, August 3rd. The stock was sold at an average price of $26.80, for a total value of $160,800.00. Following the completion of the sale, the insider directly owned 286,066 shares in the company, valued at approximately $7,666,568.80. The trade was a 2.05% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amanda Brooke Kopetsky sold 13,472 shares of the company's stock in a transaction that occurred 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 sale, the insider directly owned 7,331 shares in the company, valued at approximately $197,937. This 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 137,528 shares of company stock worth $3,583,271 in the last quarter. Insiders own 7.60% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on ALH. Morgan Stanley lifted their price target on shares of Alliance Laundry from $27.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Friday, May 29th. Weiss Ratings raised shares of Alliance Laundry from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, May 13th. Citigroup raised their target price on Alliance Laundry from $30.00 to $31.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Zacks Research lowered Alliance Laundry from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Finally, Robert W. Baird boosted their price target on Alliance Laundry from $29.00 to $32.00 and gave the stock an "outperform" rating in a research note on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Alliance Laundry presently has a consensus rating of "Hold" and a consensus price target of $30.33.

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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