Shares of Alliance Holdings GP, L.P. (NASDAQ:AHGP) fell 4.9% on Wednesday . The stock traded as low as $23.87 and last traded at $23.93, with a volume of 73,620 shares traded. The stock had previously closed at $25.17.

Separately, Zacks Investment Research upgraded Alliance Holdings GP, L.P. from a “hold” rating to a “buy” rating and set a $28.00 price target on the stock in a research note on Friday, July 29th.

The firm has a 50 day moving average of $23.08 and a 200-day moving average of $17.92. The company has a market cap of $1.42 billion and a P/E ratio of 8.80.

Alliance Holdings GP, L.P. (NASDAQ:AHGP) last announced its earnings results on Tuesday, July 26th. The company reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.66 by $0.10. The business had revenue of $439.04 million for the quarter, compared to analysts’ expectations of $427.63 million. The firm’s quarterly revenue was down 27.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.02 EPS. Analysts forecast that Alliance Holdings GP, L.P. will post $2.60 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Friday, August 12th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 9.29%. The ex-dividend date is Wednesday, August 10th.

In other news, Director Robert J. Druten sold 12,825 shares of Alliance Holdings GP, L.P. stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $19.60, for a total transaction of $251,370.00. Following the completion of the sale, the director now owns 7,538 shares of the company’s stock, valued at $147,744.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

A hedge fund recently bought a new stake in Alliance Holdings GP, L.P. stock. Magnolia Group LLC purchased a new stake in shares of Alliance Holdings GP, L.P. (NASDAQ:AHGP) during the fourth quarter, according to its most recent filing with the SEC. The institutional investor purchased 408,652 shares of the company’s stock, valued at approximately $8,247,000. Alliance Holdings GP, L.P. comprises approximately 7.5% of Magnolia Group LLC’s holdings, making the stock its 7th largest position. Magnolia Group LLC owned about 0.68% of Alliance Holdings GP, L.P. as of its most recent SEC filing.

Alliance Holdings GP, L.P. is a limited partnership company. The Company owns directly and indirectly 100% of the members’ interest in Alliance Resource Management GP, LLC (MGP), the managing general partner of Alliance Resource Partners, L.P. (ARLP). The Company’s segments include Illinois Basin, Appalachia, and Other and Corporate.

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