Alliance Resource Partners (NASDAQ:ARLP) Rating Increased to Strong-Buy at StockNews.com

Posted by Defense World Staff on Jun 6th, 2023

Alliance Resource Partners (NASDAQ:ARLP – Get Rating) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a note issued to investors on Tuesday.

Alliance Resource Partners Trading Down 2.0 %

NASDAQ:ARLP opened at $17.47 on Tuesday. The company has a market capitalization of $2.22 billion, a P/E ratio of 3.14 and a beta of 1.35. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.96 and a current ratio of 2.33. The stock’s 50 day moving average price is $19.70 and its 200 day moving average price is $20.54. Alliance Resource Partners has a 52 week low of $16.43 and a 52 week high of $27.63.

Insiders Place Their Bets

In other Alliance Resource Partners news, insider Joseph W. Craft III acquired 100,000 shares of Alliance Resource Partners stock in a transaction dated Thursday, March 16th. The stock was bought at an average cost of $18.60 per share, with a total value of $1,860,000.00. Following the completion of the transaction, the insider now owns 18,582,657 shares of the company’s stock, valued at $345,637,420.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 16.80% of the company’s stock.

Institutional Investors Weigh In On Alliance Resource Partners

Several institutional investors and hedge funds have recently bought and sold shares of the business. Tucker Asset Management LLC acquired a new position in Alliance Resource Partners in the first quarter worth about $26,000. Money Concepts Capital Corp bought a new stake in Alliance Resource Partners during the fourth quarter worth about $29,000. Advisory Services Network LLC bought a new stake in Alliance Resource Partners during the first quarter worth about $102,000. IFP Advisors Inc grew its stake in Alliance Resource Partners by 13.4% during the third quarter. IFP Advisors Inc now owns 5,069 shares of the energy company’s stock worth $99,000 after buying an additional 600 shares during the last quarter. Finally, CoreCap Advisors LLC bought a new stake in Alliance Resource Partners during the fourth quarter worth about $134,000.

Alliance Resource Partners Company Profile

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Alliance Resource Partners LP is a natural resource company, which produces and markets coal to United States utilities and industrial users. It operates through the following segments: Illinois Basin, Appalachia, Minerals, and Other & Corporate. The Illinois Basin segment is comprised of Webster County coal’s Dotiki mining complex, Gibson mining complex, which includes the Gibson north mine and the Gibson south project, Hopkins County coal’s Elk Creek mining complex, White County coal’s Pattiki mining complex, Warrior’s mining complex, River View’s mining complex, the Sebree property and certain properties of Alliance Resource Properties and ARP Sebree LLC.