Alpha Metallurgical Resources (NYSE:AMR) Trading Down 5.8% Following Insider Selling

Alpha Metallurgical Resources, Inc. (NYSE:AMR - Get Free Report) dropped 5.8% during mid-day trading on Monday after an insider sold shares in the company. The company traded as low as $351.52 and last traded at $354.07. Approximately 27,166 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 223,163 shares. The stock had previously closed at $376.03.Specifically, Director Kenneth S. Courtis sold 7,611 shares of the business's stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $385.00, for a total transaction of $2,930,235.00. Following the completion of the sale, the director now directly owns 698,325 shares of the company's stock, valued at $268,855,125. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director David J. Stetson sold 4,502 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $388.26, for a total transaction of $1,747,946.52. Following the completion of the transaction, the director now directly owns 20,104 shares of the company's stock, valued at approximately $7,805,579.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth S. Courtis sold 7,611 shares of the stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $385.00, for a total transaction of $2,930,235.00. Following the transaction, the director now directly owns 698,325 shares of the company's stock, valued at $268,855,125. The disclosure for this sale can be found here. Insiders sold a total of 116,169 shares of company stock valued at $43,791,063 over the last three months. Corporate insiders own 15.00% of the company's stock.

Alpha Metallurgical Resources Stock Performance

The company has a market capitalization of $4.55 billion, a PE ratio of 7.72 and a beta of 1.37. The stock's 50 day moving average is $379.92 and its 200 day moving average is $298.00.

Alpha Metallurgical Resources (NYSE:AMR - Get Free Report) last posted its quarterly earnings data on Monday, February 26th. The energy company reported $12.88 earnings per share for the quarter, beating the consensus estimate of $8.78 by $4.10. Alpha Metallurgical Resources had a net margin of 20.80% and a return on equity of 46.22%. The firm had revenue of $959.90 million for the quarter, compared to analysts' expectations of $796.65 million. During the same quarter last year, the company posted $13.37 EPS. The business's quarterly revenue was up 16.6% on a year-over-year basis. On average, equities research analysts forecast that Alpha Metallurgical Resources, Inc. will post 43.33 EPS for the current fiscal year.

Institutional Investors Weigh In On Alpha Metallurgical Resources

Several institutional investors and hedge funds have recently modified their holdings of the stock. Fuller & Thaler Asset Management Inc. purchased a new position in Alpha Metallurgical Resources in the third quarter worth about $128,857,000. Pacer Advisors Inc. purchased a new position in Alpha Metallurgical Resources in the fourth quarter worth about $139,291,000. Dalal Street LLC purchased a new position in Alpha Metallurgical Resources in the second quarter worth about $59,605,000. Renaissance Technologies LLC raised its holdings in Alpha Metallurgical Resources by 545.5% in the first quarter. Renaissance Technologies LLC now owns 304,115 shares of the energy company's stock worth $40,131,000 after buying an additional 257,000 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Alpha Metallurgical Resources by 13,521.9% in the first quarter. Envestnet Asset Management Inc. now owns 222,855 shares of the energy company's stock worth $39,000 after buying an additional 221,219 shares during the last quarter. 76.31% of the stock is owned by hedge funds and other institutional investors.

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. As of December 31, 2022, it operated twenty four active mines and eight 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.

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