Element Capital Management LLC Acquires New Position in Alliance Laundry Holdings Inc. $ALH

Element Capital Management LLC purchased a new position in Alliance Laundry Holdings Inc. (NYSE:ALH) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 125,000 shares of the company’s stock, valued at approximately $2,544,000. Alliance Laundry accounts for approximately 1.2% of Element Capital Management LLC’s investment portfolio, making the stock its 20th biggest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALH. Comerica Bank bought a new position in Alliance Laundry in the 4th quarter worth approximately $50,000. California State Teachers Retirement System bought a new position in Alliance Laundry in the 4th quarter worth approximately $55,000. Russell Investments Group Ltd. bought a new position in Alliance Laundry in the 4th quarter worth approximately $71,000. New York State Common Retirement Fund bought a new position in Alliance Laundry in the 4th quarter worth approximately $140,000. Finally, Strs Ohio bought a new position in Alliance Laundry in the 4th quarter worth approximately $157,000.

Insider Activity

In related news, COO Jan Gommaar M. Vleugels sold 75,000 shares of the stock in a transaction on Monday, June 15th. The stock was sold at an average price of $25.64, for a total transaction of $1,923,000.00. Following the sale, the chief operating officer owned 599,563 shares in the company, valued at approximately $15,372,795.32. This represents a 11.12% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Brian Christopher Sikora sold 17,500 shares of the stock in a transaction on Tuesday, June 16th. The shares were sold at an average price of $26.15, for a total value of $457,625.00. Following the sale, the chief accounting officer owned 13,951 shares in the company, valued at $364,818.65. The trade was a 55.64% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 98,500 shares of company stock worth $2,534,585. 7.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Weiss Ratings upgraded Alliance Laundry from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Morgan Stanley upped their price target on Alliance Laundry from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Friday, May 29th. Robert W. Baird upped their price target on Alliance Laundry from $29.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 13th. Citigroup upped their price target on Alliance Laundry from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Thursday, May 14th. Finally, Wall Street Zen upgraded Alliance Laundry from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $30.00.

Alliance Laundry Stock Performance

NYSE ALH opened at $26.06 on Thursday. The company has a quick ratio of 1.05, a current ratio of 1.37 and a debt-to-equity ratio of 4.00. The company has a market cap of $5.18 billion and a P/E ratio of 31.40. Alliance Laundry Holdings Inc. has a one year low of $18.64 and a one year high of $27.48. The firm’s 50 day moving average price is $24.95.

Alliance Laundry (NYSE:ALH) last posted its earnings results on Tuesday, May 12th. The company reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The firm had revenue of $426.89 million for the quarter. The business’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.20 EPS. As a group, equities analysts predict that Alliance Laundry Holdings Inc. will post 1.29 EPS for the current fiscal year.

Alliance Laundry Company Profile

Alliance Laundry Systems (NYSE: ALH) is a manufacturer and distributor of commercial and residential laundry equipment and related services. The company designs, produces and sells a range of coin-operated and vended machines, on-premises washers and dryers, and allied equipment for laundromats, multi-housing, hospitality, healthcare and other institutional customers. Alliance’s product strategy emphasizes durable, high-throughput machines for professional laundry operators as well as appliances geared to self-service and multi-dwelling applications.

Its product portfolio includes coin-operated and card-operated washers and dryers, stacked and single-pocket models, industrial-grade on-premises equipment, and parts and accessories.