Alliance Holdings GP, L.P. (AHGP) Sees Large Volume Increase
Shares of Alliance Holdings GP, L.P. (NASDAQ:AHGP) saw strong trading volume on Friday . 265,109 shares traded 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 shares of Alliance Holdings GP, L.P. from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 28th.
The stock has a market cap of $1.38 billion and a PE ratio of 7.80. The firm’s 50 day moving average is $20.38 and its 200 day moving average is $17.02.
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 Zacks’ consensus estimate of $0.82 by $0.30. The firm had revenue of $412.73 million for the quarter, compared to analyst estimates of $469 million. During the same period last year, the firm earned $1.09 EPS. The company’s revenue was down 26.3% compared to the same quarter last year. Analysts predict 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 the business’s stock in a transaction 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 transaction, the director now owns 7,538 shares of the company’s stock, valued at $147,744.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
A number of institutional investors recently made changes to their positions in AHGP. GSA Capital Partners LLP raised its position 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 worth $1,851,000 after buying an additional 57,887 shares during the period. Penserra Capital Management LLC bought a new position in shares of Alliance Holdings GP, L.P. during the fourth quarter worth about $2,857,000. Finally, Magnolia Group LLC bought a new position in shares of Alliance Holdings GP, L.P. during the fourth quarter worth about $8,247,000.
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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