Properties Ltd. Golden Sells 1,000,000 Shares of American Resources (NASDAQ:AREC) Stock

Key Points

• Properties Ltd. Golden sold 1,000,000 shares of American Resources Corporation stock at an average price of $1.26, resulting in a transaction worth $1.26 million, reducing their ownership by 7.47%.
• Shares of NASDAQ:AREC dropped by 12.1%, closing at $3.72, with trading volume significantly higher than average.
• American Resources missed quarterly earnings estimates, reporting a loss of $0.10 per share against a consensus of $0.05, with revenue substantially below expectations.

American Resources Corporation (NASDAQ:AREC - Get Free Report) major shareholder Properties Ltd. Golden sold 1,000,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $1.26, for a total transaction of $1,260,000.00. Following the sale, the insider owned 12,389,960 shares of the company's stock, valued at approximately $15,611,349.60. This represents a 7.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Properties Ltd. Golden also recently made the following trade(s):

• On Friday, October 17th, Properties Ltd. Golden sold 980,000 shares of American Resources stock. The shares were sold at an average price of $4.06, for a total transaction of $3,978,800.00.
• On Monday, October 20th, Properties Ltd. Golden sold 20,000 shares of American Resources stock. The shares were sold at an average price of $4.12, for a total transaction of $82,400.00.

American Resources Stock Down 12.1%

Shares of NASDAQ:AREC traded down $0.51 during trading on Wednesday, reaching $3.72. The stock had a trading volume of 11,728,131 shares, compared to its average volume of 4,466,056. American Resources Corporation has a 52 week low of $0.38 and a 52 week high of $7.11. The firm has a market capitalization of $314.75 million, a price-to-earnings ratio of -7.59 and a beta of 1.14. The stock has a fifty day simple moving average of $2.76 and a two-hundred day simple moving average of $1.58.

American Resources (NASDAQ:AREC - Get Free Report) last released its quarterly earnings results on Tuesday, August 19th. The company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.05). The firm had revenue of $0.01 million for the quarter, compared to the consensus estimate of $16.40 million. On average, analysts forecast that American Resources Corporation will post -0.38 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on AREC. D Boral Capital upgraded shares of American Resources to a "strong-buy" rating in a research note on Monday, September 15th. Roth Capital restated a "buy" rating and issued a $5.00 target price on shares of American Resources in a research note on Monday, October 13th. D. Boral Capital initiated coverage on shares of American Resources in a research report on Monday, September 15th. They set a "buy" rating and a $6.00 price target on the stock. William Blair initiated coverage on American Resources in a report on Monday. They set an "outperform" rating for the company. Finally, Wall Street Zen raised American Resources from a "sell" rating to a "hold" rating in a report on Sunday, September 28th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $5.50.

Institutional Investors Weigh In On American Resources

Several large investors have recently made changes to their positions in AREC. Creative Planning raised its stake in American Resources by 65.5% in the 2nd quarter. Creative Planning now owns 37,892 shares of the company's stock valued at $31,000 after acquiring an additional 15,000 shares during the period. XTX Topco Ltd bought a new position in shares of American Resources in the second quarter worth $33,000. Virtu Financial LLC boosted its stake in American Resources by 271.3% in the first quarter. Virtu Financial LLC now owns 101,913 shares of the company's stock valued at $48,000 after buying an additional 74,464 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in American Resources by 86,418.3% in the second quarter. JPMorgan Chase & Co. now owns 122,856 shares of the company's stock valued at $102,000 after buying an additional 122,714 shares in the last quarter. Finally, CWM LLC acquired a new stake in American Resources in the third quarter valued at about $429,000. Institutional investors and hedge funds own 9.32% of the company's stock.

American Resources Company Profile

American Resources Corporation, together with its subsidiaries, extracts, processes, transports, and sells metallurgical coal to the steel and industrial industries. It supplies raw materials; and sells coal used in pulverized coal injections. The company was founded in 2006 and is headquartered in Fishers, Indiana.

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