Alliance Holdings GP, L.P. (AHGP) Sees Unusually-High Trading Volume
Alliance Holdings GP, L.P. (NASDAQ:AHGP) saw an uptick in trading volume on Friday . 265,109 shares changed hands during mid-day trading, an increase of 125% from the previous session’s volume of 117,941 shares.The stock last traded at $22.08 and had previously closed at $22.10.
Separately, Zacks Investment Research upgraded Alliance Holdings GP, L.P. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 28th.
The company’s 50-day moving average price is $20.19 and its 200-day moving average price is $17.01. The stock has a market capitalization of $1.38 billion and a P/E ratio of 7.80.
Alliance Holdings GP, L.P. (NASDAQ:AHGP) last issued its quarterly earnings data on Tuesday, April 26th. The company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.82 by $0.30. The company had revenue of $412.73 million for the quarter, compared to analysts’ expectations of $469 million. The firm’s revenue was down 26.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.09 EPS. On average, equities analysts expect that Alliance Holdings GP, L.P. will post $2.42 earnings per share for the current year.
In related news, Director Robert J. Druten sold 12,825 shares of Alliance Holdings GP, L.P. stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $19.60, for a total value of $251,370.00. Following the sale, the director now directly owns 7,538 shares in the company, valued at approximately $147,744.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.
A number of hedge funds have recently modified their holdings of AHGP. Magnolia Group LLC purchased a new stake in shares of Alliance Holdings GP, L.P. during the fourth quarter valued at $8,247,000. GSA Capital Partners LLP increased its stake in shares of Alliance Holdings GP, L.P. by 171.2% in the fourth quarter. GSA Capital Partners LLP now owns 91,703 shares of the company’s stock valued at $1,851,000 after buying an additional 57,887 shares in the last quarter. Finally, Penserra Capital Management LLC purchased a new stake in shares of Alliance Holdings GP, L.P. during the fourth quarter valued at $2,857,000.
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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