Pathway Financial Advisers LLC grew its stake in Alliance Resource Partners, L.P. (NASDAQ:ARLP – Free Report) by 2,400.0% during the 3rd quarter, Holdings Channel reports. The firm owned 67,675 shares of the energy company’s stock after purchasing an additional 64,968 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Alliance Resource Partners were worth $1,692,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Continuum Advisory LLC acquired a new stake in Alliance Resource Partners in the 2nd quarter worth about $27,000. Beacon Capital Management LLC increased its position in shares of Alliance Resource Partners by 135.8% during the second quarter. Beacon Capital Management LLC now owns 1,462 shares of the energy company’s stock worth $36,000 after purchasing an additional 842 shares in the last quarter. Cove Street Capital LLC acquired a new position in Alliance Resource Partners in the 2nd quarter valued at $49,000. Mather Group LLC. acquired a new position in Alliance Resource Partners in the 2nd quarter valued at $51,000. Finally, Eastern Bank purchased a new position in Alliance Resource Partners in the 3rd quarter valued at $72,000. Hedge funds and other institutional investors own 18.11% of the company’s stock.
Alliance Resource Partners Stock Performance
NASDAQ ARLP opened at $25.63 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.80 and a current ratio of 2.53. The stock’s fifty day moving average is $24.31 and its two-hundred day moving average is $23.81. The firm has a market capitalization of $3.28 billion, a P/E ratio of 5.61 and a beta of 1.13. Alliance Resource Partners, L.P. has a fifty-two week low of $18.32 and a fifty-two week high of $26.21.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on the stock. Benchmark increased their target price on shares of Alliance Resource Partners from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, July 30th. StockNews.com lowered shares of Alliance Resource Partners from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 31st.
Check Out Our Latest Report on Alliance Resource Partners
About Alliance Resource Partners
Alliance Resource Partners, L.P., a diversified natural resource company, produces and markets coal primarily to utilities and industrial users in the United States. The company operates through four segments: Illinois Basin Coal Operations, Appalachia Coal Operations, Oil & Gas Royalties, and Coal Royalties.
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