Spark Investment Management LLC Reduces Stake in Westmoreland Coal Company (WLB)

Spark Investment Management LLC cut its stake in Westmoreland Coal Company (NASDAQ:WLB) by 56.8% during the first quarter, according to its most recent filing with the SEC. The fund owned 93,700 shares of the coal producer’s stock after selling 123,200 shares during the period. Spark Investment Management LLC’s holdings in Westmoreland Coal Company were worth $1,360,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of WLB. American International Group Inc. boosted its stake in Westmoreland Coal Company by 7.1% in the first quarter. American International Group Inc. now owns 11,341 shares of the coal producer’s stock valued at $165,000 after buying an additional 751 shares during the last quarter. Ellington Management Group LLC acquired a new stake in Westmoreland Coal Company during the fourth quarter valued at about $223,000. Private Advisory Group LLC acquired a new stake in Westmoreland Coal Company during the fourth quarter valued at about $245,000. Metropolitan Life Insurance Co. NY acquired a new stake in Westmoreland Coal Company during the fourth quarter valued at about $246,000. Finally, USA Financial Portformulas Corp acquired a new stake in Westmoreland Coal Company during the fourth quarter valued at about $248,000. 68.77% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for Westmoreland Coal Company (NASDAQ:WLB)

Shares of Westmoreland Coal Company (WLB) opened at 5.58 on Wednesday. Westmoreland Coal Company has a 52-week low of $5.44 and a 52-week high of $19.92. The firm’s 50-day moving average price is $9.07 and its 200 day moving average price is $14.39. The company’s market capitalization is $104.14 million.

Westmoreland Coal Company (NASDAQ:WLB) last posted its quarterly earnings results on Monday, May 15th. The coal producer reported ($1.98) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.58) by $1.40. The business had revenue of $339.74 million for the quarter, compared to analyst estimates of $349.35 million. On average, equities analysts forecast that Westmoreland Coal Company will post ($2.05) earnings per share for the current year.

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Several research firms recently issued reports on WLB. Zacks Investment Research cut Westmoreland Coal Company from a “hold” rating to a “strong sell” rating in a research note on Saturday, April 1st. ValuEngine cut Westmoreland Coal Company from a “sell” rating to a “strong sell” rating in a research note on Tuesday. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $18.00 target price on shares of Westmoreland Coal Company in a research note on Thursday, March 30th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $20.00.

About Westmoreland Coal Company

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:WLB”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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