Straight Path Wealth Management Makes New Investment in Alliance Laundry Holdings Inc. $ALH

Key Points

• Straight Path Wealth Management acquired 66,850 shares of Alliance Laundry Holdings worth approximately $1.42 million during the third quarter, while several other institutional investors also increased their positions.
• Analyst sentiment is mixed: the stock has a consensus “Hold” rating and an average price target of $30.20, despite some firms raising targets and others downgrading or cutting expectations.
• Alliance Laundry reported quarterly earnings of $0.41 per share, exceeding the $0.35 consensus estimate, on revenue of $476.75 million. Shares opened at $21.28, while insiders have sold $3.96 million of stock over the past 90 days.

Straight Path Wealth Management acquired a new stake in Alliance Laundry Holdings Inc. (NYSE:ALH - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 66,850 shares of the company's stock, valued at approximately $1,424,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. HighTower Advisors LLC boosted its stake in Alliance Laundry by 3.5% during the 2nd quarter. HighTower Advisors LLC now owns 16,410 shares of the company's stock worth $435,000 after purchasing an additional 556 shares during the period. PNC Financial Services Group Inc. grew its holdings in 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 acquiring an additional 608 shares during the period. Janney Montgomery Scott LLC boosted its position in shares of Alliance Laundry by 7.4% during the 1st quarter. Janney Montgomery Scott LLC now owns 12,861 shares of the company's stock worth $267,000 after purchasing an additional 885 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Alliance Laundry in the second quarter valued at about $36,000. Finally, GAMMA Investing LLC increased its stake in Alliance Laundry by 11,068.8% in the 2nd quarter. GAMMA Investing LLC now owns 1,787 shares of the company's stock valued at $47,000 after purchasing an additional 1,771 shares in the last quarter.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ALH. Citigroup cut their price target on Alliance Laundry from $31.00 to $26.00 and set a "buy" rating for the company in a research note on Monday, October 12th. Zacks Research lowered Alliance Laundry from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Robert W. Baird raised their price target on shares of Alliance Laundry from $32.00 to $34.00 and gave the stock an "outperform" rating in a research note on Friday, August 14th. JPMorgan Chase & Co. raised their target price on shares of Alliance Laundry from $31.00 to $32.00 and gave the stock an "overweight" rating in a research report on Friday, August 14th. Finally, BMO Capital Markets raised their price objective on Alliance Laundry from $30.00 to $31.00 and gave the stock an "outperform" rating in a report on Monday, August 17th. Four analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $30.20.

Insider Buying and Selling

In related news, insider Samantha Hannan sold 6,000 shares of the firm's stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $26.80, for a total transaction 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. This trade represents a 2.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Amanda Kopetsky sold 13,472 shares of the firm's stock in a transaction dated Tuesday, July 28th. The stock was 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 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. In the last ninety days, insiders sold 169,472 shares of company stock valued at $3,959,544. Corporate insiders own 7.60% of the company's stock.

Alliance Laundry Price Performance

Shares of ALH opened at $21.28 on Monday. Alliance Laundry Holdings Inc. has a 12 month low of $18.64 and a 12 month high of $28.23. The company has a debt-to-equity ratio of 3.35, a current ratio of 1.43 and a quick ratio of 1.14. The stock has a fifty day moving average price of $22.00 and a 200 day moving average price of $24.26. The company has a market cap of $4.23 billion and a P/E ratio of 23.38.

Alliance Laundry (NYSE:ALH - Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.06. Alliance Laundry had a return on equity of 81.92% and a net margin of 10.08%. The firm had revenue of $476.75 million for the quarter. On average, research analysts forecast that Alliance Laundry Holdings Inc. will post 1.35 earnings per share for the current year.

Alliance Laundry Company Profile

Alliance Laundry Holdings, Inc is a commercial and residential laundry equipment company headquartered in Ripon, Wisconsin. Through its operating businesses, the company designs, manufactures and distributes washing machines, dryers and related laundry systems for commercial, institutional and consumer customers.

Its product portfolio includes coin-operated and on-premises laundry equipment, industrial laundry systems, and residential washers and dryers. The company's brands include Speed Queen, Huebsch, UniMac, Primus and IPSO, serving customers such as laundromats, multifamily housing operators, hotels, healthcare facilities, correctional institutions and other organizations with high-volume laundry needs.

Alliance Laundry traces its origins to 1908 and sells its products through distributors and other sales channels in the United States and international markets.

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