Westmoreland Coal Co. (NASDAQ:WLB) major shareholder Mangrove Partners Fund (Cayman sold 39,886 shares of the company’s stock in a transaction on Tuesday, December 6th. The shares were sold at an average price of $19.10, for a total transaction of $761,822.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Westmoreland Coal Co. (NASDAQ:WLB) opened at 18.73 on Monday. Westmoreland Coal Co. has a 52-week low of $3.44 and a 52-week high of $19.92. The firm’s 50-day moving average is $14.35 and its 200-day moving average is $10.31.
Westmoreland Coal (NASDAQ:WLB) last released its quarterly earnings results on Tuesday, November 1st. The company reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by $0.85. The company had revenue of $370.70 million for the quarter, compared to analysts’ expectations of $387 million. During the same quarter in the prior year, the company earned ($2.59) earnings per share. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. Analysts expect that Westmoreland Coal Co. will post $0.72 earnings per share for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the stock. American International Group Inc. boosted its stake in Westmoreland Coal by 1.1% in the second quarter. American International Group Inc. now owns 10,602 shares of the company’s stock worth $101,000 after buying an additional 114 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in Westmoreland Coal during the third quarter worth about $130,000. Wells Fargo & Company MN boosted its stake in Westmoreland Coal by 216.9% in the third quarter. Wells Fargo & Company MN now owns 15,879 shares of the company’s stock worth $141,000 after buying an additional 10,869 shares in the last quarter. State Board of Administration of Florida Retirement System boosted its stake in Westmoreland Coal by 4.7% in the second quarter. State Board of Administration of Florida Retirement System now owns 18,103 shares of the company’s stock worth $172,000 after buying an additional 806 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its stake in Westmoreland Coal by 1,052.9% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 19,600 shares of the company’s stock worth $173,000 after buying an additional 17,900 shares in the last quarter. 66.79% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms recently issued reports on WLB. Zacks Investment Research raised shares of Westmoreland Coal from a “sell” rating to a “hold” rating in a research note on Saturday, November 12th. FBR & Co reaffirmed an “outperform” rating and set a $22.00 price target (up previously from $16.00) on shares of Westmoreland Coal in a research note on Wednesday, November 23rd. Finally, Seaport Global Securities began coverage on shares of Westmoreland Coal in a research note on Friday, November 4th. They set a “buy” rating and a $20.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $13.45.
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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