Monarch Partners Asset Management LLC raised its position in Westmoreland Coal Co. (NASDAQ:WLB) by 11.1% during the second quarter, Holdings Channel reports. The firm owned 20,990 shares of the company’s stock after buying an additional 2,090 shares during the period. Monarch Partners Asset Management LLC’s holdings in Westmoreland Coal were worth $200,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in WLB. Menta Capital LLC acquired a new stake in shares of Westmoreland Coal during the first quarter worth $264,000. State Street Corp boosted its position in Westmoreland Coal by 5.8% in the first quarter. State Street Corp now owns 249,939 shares of the company’s stock worth $1,800,000 after buying an additional 13,802 shares during the last quarter. Geode Capital Management LLC boosted its position in Westmoreland Coal by 1.1% in the first quarter. Geode Capital Management LLC now owns 113,649 shares of the company’s stock worth $819,000 after buying an additional 1,291 shares during the last quarter. Chou Associates Management Inc. purchased a new position in Westmoreland Coal during the first quarter worth $147,161,000. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Westmoreland Coal during the first quarter worth $304,000. 66.74% of the stock is owned by hedge funds and other institutional investors.
Shares of Westmoreland Coal Co. (NASDAQ:WLB) traded down 2.81% during midday trading on Friday, hitting $8.64. 151,551 shares of the stock were exchanged. The firm’s market cap is $160.44 million. The stock’s 50 day moving average is $8.63 and its 200 day moving average is $8.40. Westmoreland Coal Co. has a 12-month low of $3.44 and a 12-month high of $16.06.
Westmoreland Coal (NASDAQ:WLB) last released its earnings results on Tuesday, August 2nd. The company reported ($1.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by $1.11. The business had revenue of $356.20 million for the quarter, compared to the consensus estimate of $352.90 million. Westmoreland Coal’s quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts forecast that Westmoreland Coal Co. will post $1.66 earnings per share for the current fiscal year.
A number of equities analysts have weighed in on the stock. BMO Capital Markets reissued a “buy” rating and issued a $8.00 price objective on shares of Westmoreland Coal in a research report on Wednesday, August 3rd. Zacks Investment Research cut shares of Westmoreland Coal from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Finally, FBR & Co reissued a “buy” rating on shares of Westmoreland Coal in a research report on Thursday, August 4th.
Westmoreland Coal Company Profile
Westmoreland Coal Company is an energy company. The Company operates through six segments: Coal – U.S., Coal – Canada, Coal – Westmoreland Resource Partners, LP (WMLP), Power, Heritage and Corporate. Coal – U.S. segment includes the operations of coal mines located in Montana, North Dakota, Ohio, Texas and New Mexico.
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