Zacks Investment Research Downgrades Alliance Resource Partners, L.P. (ARLP) to Sell

Alliance Resource Partners, L.P. (NASDAQ:ARLP) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a research note issued to investors on Friday.

According to Zacks, “ALLIANCE RESOURCES is a diversified producer and marketer of coal to major U.S. utilities and industrial users. They currently operate mining complexes in Illinois, Indiana, Kentucky and Maryland. Some of their mining complexes are underground and one has both surface and underground mines. They produce a diverse range of steam coals with varying sulfur and heat contents, which enable them to satisfy the broad range of specifications demanded by their customers. “

Several other research firms have also issued reports on ARLP. ValuEngine lowered shares of Alliance Resource Partners, L.P. from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. BidaskClub upgraded shares of Alliance Resource Partners, L.P. from a “strong sell” rating to a “sell” rating in a research report on Thursday, June 29th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. Alliance Resource Partners, L.P. currently has an average rating of “Buy” and an average price target of $26.43.

Shares of Alliance Resource Partners, L.P. (ARLP) traded up 1.24% on Friday, reaching $20.35. The company had a trading volume of 341,585 shares. The company has a market capitalization of $2.66 billion, a PE ratio of 4.92 and a beta of 0.70. Alliance Resource Partners, L.P. has a one year low of $17.65 and a one year high of $26.65. The company’s 50-day moving average is $19.36 and its 200-day moving average is $20.20.

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In other Alliance Resource Partners, L.P. news, Director John P. Neafsey purchased 10,000 shares of the business’s stock in a transaction on Monday, August 7th. The stock was acquired at an average cost of $19.55 per share, for a total transaction of $195,500.00. Following the completion of the transaction, the director now directly owns 51,604 shares in the company, valued at approximately $1,008,858.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 44.03% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of ARLP. Alliancebernstein L.P. purchased a new stake in Alliance Resource Partners, L.P. during the first quarter valued at about $210,000. MARSHALL WACE ASIA Ltd purchased a new stake in Alliance Resource Partners, L.P. during the first quarter valued at about $640,000. Marshall Wace North America L.P. purchased a new stake in Alliance Resource Partners, L.P. during the first quarter valued at about $640,000. Geode Capital Management LLC boosted its position in Alliance Resource Partners, L.P. by 15.4% during the first quarter. Geode Capital Management LLC now owns 101,391 shares of the energy company’s stock valued at $2,194,000 after buying an additional 13,513 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in Alliance Resource Partners, L.P. during the first quarter valued at about $1,611,000. Institutional investors and hedge funds own 14.88% of the company’s stock.

About Alliance Resource Partners, L.P.

Alliance Resource Partners, L.P. is a producer and marketer of coal primarily to the United States utilities and industrial users. The Company operates through segments, including Illinois Basin, Appalachia, and Other and Corporate. The Illinois Basin segment consists of various operating segments, including Webster County Coal, LLC’s Dotiki mining complex, Gibson County Coal, LLC’s mining complex, which includes the Gibson North mine and Gibson South mine, Hopkins County Coal, LLC’s mining complex, which includes the Elk Creek mine, the Pleasant View surface mineable reserves and the Fies property, White County Coal, LLC’s, Pattiki mining complex, Warrior Coal, LLC’s mining complex, Sebree Mining, LLC’s mining complex, which includes the Onton mine and River View Coal, LLC mining complex.

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