75,412 Shares in Westmoreland Coal Company (WLB) Acquired by Marshall Wace North America L.P.
Marshall Wace North America L.P. acquired a new position in Westmoreland Coal Company (NASDAQ:WLB) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 75,412 shares of the coal producer’s stock, valued at approximately $377,000. Marshall Wace North America L.P. owned 0.40% of Westmoreland Coal at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in WLB. American International Group Inc. increased its holdings in shares of Westmoreland Coal by 7.1% in the first quarter. American International Group Inc. now owns 11,341 shares of the coal producer’s stock worth $165,000 after buying an additional 751 shares during the period. OppenheimerFunds Inc. increased its holdings in shares of Westmoreland Coal by 4.3% in the first quarter. OppenheimerFunds Inc. now owns 13,899 shares of the coal producer’s stock worth $202,000 after buying an additional 579 shares during the period. Tudor Investment Corp ET AL increased its holdings in shares of Westmoreland Coal by 15.3% in the first quarter. Tudor Investment Corp ET AL now owns 14,254 shares of the coal producer’s stock worth $207,000 after buying an additional 1,892 shares during the period. Public Employees Retirement System of Ohio increased its holdings in shares of Westmoreland Coal by 16.2% in the first quarter. Public Employees Retirement System of Ohio now owns 14,319 shares of the coal producer’s stock worth $208,000 after buying an additional 1,998 shares during the period. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Westmoreland Coal in the first quarter worth about $228,000. Hedge funds and other institutional investors own 78.25% of the company’s stock.
WLB has been the topic of several analyst reports. FBR & Co reiterated a “buy” rating and issued a $7.00 price objective on shares of Westmoreland Coal in a report on Friday, September 1st. Zacks Investment Research upgraded Westmoreland Coal from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. BMO Capital Markets downgraded Westmoreland Coal from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $18.00 to $5.00 in a report on Thursday, August 3rd. Finally, ValuEngine downgraded Westmoreland Coal from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $10.67.
Westmoreland Coal Company (NASDAQ:WLB) opened at 2.60 on Friday. The stock has a 50 day moving average price of $2.66 and a 200 day moving average price of $7.57. Westmoreland Coal Company has a 12-month low of $1.88 and a 12-month high of $19.92. The stock’s market cap is $48.73 million.
Westmoreland Coal (NASDAQ:WLB) last announced its quarterly earnings results on Thursday, August 3rd. The coal producer reported ($2.69) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.58) by ($1.11). The company had revenue of $323.03 million for the quarter, compared to analysts’ expectations of $320.85 million. On average, analysts forecast that Westmoreland Coal Company will post ($4.72) earnings per share for the current fiscal year.
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Westmoreland Coal Company Profile
Westmoreland Coal Company is an energy company. The Company operates through six segments: Coal-U.S., Coal-Canada, Coal-(WMLP), Power, Heritage and Corporate. The Coal-U.S. segment includes the operations of coal mines located in Montana, North Dakota, Ohio, Texas and New Mexico. The Coal-Canada segment includes the operations of coal mines located in Alberta and Saskatchewan.
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