Point72 Asset Management L.P. Makes New $9.83 Million Investment in Arch Resources, Inc. (NYSE:ARCH)

Point72 Asset Management L.P. acquired a new position in Arch Resources, Inc. (NYSE:ARCH - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 71,134 shares of the energy company's stock, valued at approximately $9,828,000. Point72 Asset Management L.P. owned about 0.39% of Arch Resources at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mork Capital Management LLC raised its holdings in Arch Resources by 50.0% in the 3rd quarter. Mork Capital Management LLC now owns 15,000 shares of the energy company's stock valued at $2,072,000 after acquiring an additional 5,000 shares in the last quarter. Harvest Management LLC bought a new stake in Arch Resources in the 3rd quarter valued at $1,464,000. Holocene Advisors LP lifted its holdings in shares of Arch Resources by 422.4% during the 3rd quarter. Holocene Advisors LP now owns 250,349 shares of the energy company's stock worth $34,588,000 after acquiring an additional 202,425 shares during the period. Atom Investors LP lifted its stake in Arch Resources by 20.4% during the third quarter. Atom Investors LP now owns 15,276 shares of the energy company's stock worth $2,111,000 after purchasing an additional 2,588 shares during the period. Finally, Maverick Capital Ltd. raised its holdings in shares of Arch Resources by 55.8% in the 3rd quarter. Maverick Capital Ltd. now owns 9,795 shares of the energy company's stock worth $1,353,000 after buying an additional 3,510 shares in the last quarter. Institutional investors and hedge funds own 88.14% of the company's stock.

Insider Buying and Selling at Arch Resources

In related news, VP Deck Slone sold 253 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $144.75, for a total value of $36,621.75. Following the sale, the vice president now directly owns 29,120 shares in the company, valued at $4,215,120. This trade represents a 0.86 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 5.40% of the company's stock.

Arch Resources Price Performance

Shares of NYSE ARCH traded down $9.15 during midday trading on Friday, hitting $155.29. The stock had a trading volume of 227,697 shares, compared to its average volume of 299,418. Arch Resources, Inc. has a fifty-two week low of $116.44 and a fifty-two week high of $187.60. The firm has a market cap of $2.81 billion, a P/E ratio of 16.31 and a beta of 0.64. The company's 50-day simple moving average is $154.19 and its 200 day simple moving average is $148.26.

Arch Resources (NYSE:ARCH - Get Free Report) last released its earnings results on Tuesday, November 5th. The energy company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.83 by ($2.17). Arch Resources had a net margin of 6.69% and a return on equity of 13.22%. The business had revenue of $617.90 million for the quarter, compared to analyst estimates of $587.71 million. During the same quarter in the previous year, the company posted $3.91 earnings per share. The business's revenue for the quarter was down 17.0% on a year-over-year basis. Equities analysts expect that Arch Resources, Inc. will post 5.86 EPS for the current fiscal year.

Arch Resources Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 26th. Shareholders of record on Friday, November 15th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.64%. The ex-dividend date was Friday, November 15th. Arch Resources's dividend payout ratio is presently 10.50%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ARCH. Benchmark reiterated a "buy" rating and set a $180.00 price objective on shares of Arch Resources in a research note on Monday, November 18th. Jefferies Financial Group downgraded Arch Resources from a "buy" rating to a "hold" rating and boosted their target price for the stock from $155.00 to $165.00 in a report on Wednesday, November 13th. B. Riley dropped their price target on Arch Resources from $198.00 to $188.00 and set a "buy" rating for the company in a report on Friday, September 6th. Finally, StockNews.com initiated coverage on Arch Resources in a research note on Thursday. They issued a "hold" rating on the stock. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $173.60.

Arch Resources Profile

Arch Resources, Inc engages in the production and sale of metallurgical products. It operates in two segments, Metallurgical and Thermal. The company operates active mines. It owned or controlled primarily through long-term leases of coal land in Ohio, Maryland, Virginia, West Virginia, Wyoming, Kentucky, Montana, Pennsylvania, Colorado, and Illinois; and smaller parcels of property in Alabama, Indiana, Washington, Arkansas, California, Utah, and Texas.