In a recent series of transactions, Kenneth S. Courtis, a director at Alpha Metallurgical Resources, Inc. (NYSE:AMR), sold a significant portion of his holdings in the company. The sales, which took place on March 14, 2024, amounted to over $6.9 million in total value.
The shares were sold at prices ranging from $299.25 to $312.73, reflecting the market's variability on the day of the transactions. These sales are part of a routine disclosure by company insiders, providing transparency to investors and the market.
The transactions involved a series of sales with varying amounts of shares and prices. For instance, one batch of 100 shares was sold at the highest reported price of $312.73 per share, while another set of 493 shares was sold at the lowest price of $299.25 per share. Other sales occurred within this price range, with the exact number of shares sold at each price available upon request, as noted in the footnotes of the SEC filing.
Following these sales, Courtis still holds a substantial number of shares in Alpha Metallurgical Resources, indicating a continued vested interest in the company's performance. As a director, his actions are often closely watched by investors seeking insights into the company's internal perspectives.
Alpha Metallurgical Resources, previously known as Contura Energy (NYSE:CTRA_old), Inc., is a prominent player in the bituminous coal and lignite surface mining industry, with its shares publicly traded on the New York Stock Exchange.
The detailed disclosures of these transactions are part of the company's commitment to regulatory requirements and ensuring that all pertinent information is available to shareholders and potential investors.
InvestingPro Insights
As investors digest the news of Kenneth S. Courtis's share sales, it's important to consider the broader financial health and performance metrics of Alpha Metallurgical Resources, Inc. (AMR). Based on real-time data from InvestingPro, AMR has a market capitalization of approximately $3.98 billion and a notably low Price to Earnings (P/E) ratio of 6.08. Adjusting for the last twelve months as of Q4 2023, the P/E ratio is even more attractive at 5.54, suggesting that the company's earnings might be undervalued relative to its share price.
InvestingPro Tips highlight several key strengths for AMR. For one, the management has been actively engaging in share buybacks, which can be a sign of confidence in the company's future prospects and a potentially positive signal for investors. Additionally, AMR currently holds more cash than debt on its balance sheet, indicating a strong financial position and the ability to withstand market fluctuations.
Despite recent price volatility, with a price total return of -11.25% over the last week, it's worth noting that AMR has experienced a large price uptick over the last six months, with a 24.06% total return. This could be indicative of underlying strength in the company's stock and its appeal to investors over a longer time frame. Moreover, the company's high return over the past year, at 110.99%, underscores its robust performance despite short-term market movements.
For those seeking a deeper analysis, additional InvestingPro Tips are available, offering insights such as the company's strong free cash flow yield and the analysts' prediction that AMR will be profitable this year. Access these insights and more by visiting https://www.investing.com/pro/AMR, and don't forget to use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription. In total, there are 13 additional InvestingPro Tips available for AMR, providing a comprehensive outlook for informed investment decisions.
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