Vident Advisory LLC Sells 14,342 Shares of Alpha Metallurgical Resources, Inc. $AMR

Key Points

• Vident Advisory LLC has reduced its stake in Alpha Metallurgical Resources by 56.2%, selling 14,342 shares and leaving it with 11,155 shares valued at approximately $1.4 million.
• In the first quarter, several other institutional investors increased their holdings significantly, with Canada Pension Plan Investment Board raising its stake by 197.7%.
• Alpha Metallurgical Resources reported earnings of ($0.38) EPS for the last quarter, surpassing estimates but with revenues down 31.6% compared to the same period last year.

Vident Advisory LLC reduced its holdings in shares of Alpha Metallurgical Resources, Inc. (NYSE:AMR - Free Report) by 56.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,155 shares of the energy company's stock after selling 14,342 shares during the period. Vident Advisory LLC owned about 0.09% of Alpha Metallurgical Resources worth $1,397,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Signaturefd LLC boosted its position in shares of Alpha Metallurgical Resources by 306.1% during the 1st quarter. Signaturefd LLC now owns 199 shares of the energy company's stock valued at $25,000 after acquiring an additional 150 shares in the last quarter. AdvisorNet Financial Inc boosted its position in shares of Alpha Metallurgical Resources by 214.3% during the 1st quarter. AdvisorNet Financial Inc now owns 220 shares of the energy company's stock valued at $28,000 after acquiring an additional 150 shares in the last quarter. Summit Securities Group LLC acquired a new stake in shares of Alpha Metallurgical Resources during the 1st quarter valued at about $38,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Alpha Metallurgical Resources during the 4th quarter valued at about $60,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Alpha Metallurgical Resources during the 1st quarter valued at about $64,000. 84.29% of the stock is currently owned by institutional investors and hedge funds.

Alpha Metallurgical Resources Trading Up 7.4%

Shares of AMR traded up $10.02 during mid-day trading on Friday, hitting $145.92. 292,840 shares of the company traded hands, compared to its average volume of 423,649. 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 $131.95 and a 200 day moving average of $125.82. The stock has a market capitalization of $1.90 billion, a price-to-earnings ratio of -51.20 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.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. B. Riley reduced their price target on shares of Alpha Metallurgical Resources from $173.00 to $171.00 and set a "buy" rating on the stock in a research report on Tuesday, August 5th. Jefferies Financial Group boosted their price target on shares of Alpha Metallurgical Resources from $110.00 to $150.00 and gave the company a "hold" rating in a research report on Monday, August 11th. Finally, Wall Street Zen upgraded shares of Alpha Metallurgical Resources from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, Alpha Metallurgical Resources currently has a consensus rating of "Hold" and a consensus price target of $160.50.

Insider Activity at Alpha Metallurgical Resources

In other news, COO Jason E. Whitehead sold 12,004 shares of the stock in a transaction that occurred 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 sale, the chief operating officer directly owned 9,673 shares of the company's stock, valued at $1,565,478.32. This represents a 55.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Joshua Todd Munsey sold 2,135 shares of the 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 sale, the chief financial officer directly owned 4,466 shares in the company, valued at $701,162. This trade represents 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 owned by corporate insiders.

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.