Highbridge Capital Management LLC Takes Position in Arch Coal, Inc. Class A (NASDAQ:ARCH)

Highbridge Capital Management LLC bought a new stake in shares of Arch Coal, Inc. Class A (NASDAQ:ARCH) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 52,204 shares of the energy company’s stock, valued at approximately $3,598,000. Highbridge Capital Management LLC owned about 0.21% of Arch Coal, Inc. Class A at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ARCH. OppenheimerFunds Inc. acquired a new position in shares of Arch Coal, Inc. Class A during the first quarter worth approximately $227,270,000. Vanguard Group Inc. boosted its position in shares of Arch Coal, Inc. Class A by 6.1% in the first quarter. Vanguard Group Inc. now owns 1,629,260 shares of the energy company’s stock worth $112,321,000 after buying an additional 94,240 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Arch Coal, Inc. Class A by 18.1% in the first quarter. Bank of New York Mellon Corp now owns 972,717 shares of the energy company’s stock worth $67,059,000 after buying an additional 149,028 shares in the last quarter. FMR LLC acquired a new position in shares of Arch Coal, Inc. Class A during the fourth quarter worth approximately $66,261,000. Finally, Packer & Co Ltd boosted its position in shares of Arch Coal, Inc. Class A by 19.5% in the first quarter. Packer & Co Ltd now owns 679,500 shares of the energy company’s stock worth $46,845,000 after buying an additional 111,000 shares in the last quarter.

Arch Coal, Inc. Class A (NASDAQ ARCH) traded up 1.29% on Wednesday, hitting $73.90. 19,779 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $69.12 and a 200-day moving average price of $71.57. Arch Coal, Inc. Class A has a 52-week low of $59.05 and a 52-week high of $86.47. The stock has a market cap of $1.85 billion and a P/E ratio of 1.13.

Arch Coal, Inc. Class A (NASDAQ:ARCH) last released its earnings results on Tuesday, May 2nd. The energy company reported $2.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.95 by $0.60. The business had revenue of $600.97 million during the quarter, compared to analysts’ expectations of $590.60 million. The firm’s quarterly revenue was up 40.4% compared to the same quarter last year. During the same period in the prior year, the company earned ($9.71) earnings per share. Analysts predict that Arch Coal, Inc. Class A will post $10.05 earnings per share for the current fiscal year.

The firm also recently announced a special dividend, which was paid on Thursday, June 15th. Stockholders of record on Wednesday, May 31st were given a $0.35 dividend. The ex-dividend date was Friday, May 26th.

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ARCH has been the topic of several research reports. FBR & Co reaffirmed an “outperform” rating and issued a $103.00 price objective on shares of Arch Coal, Inc. Class A in a research report on Friday, March 17th. Zacks Investment Research lowered shares of Arch Coal, Inc. Class A from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 11th. Jefferies Group LLC set a $90.00 price target on shares of Arch Coal, Inc. Class A and gave the company a “buy” rating in a research note on Saturday, April 22nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $96.00 price target (up previously from $89.00) on shares of Arch Coal, Inc. Class A in a report on Wednesday, May 3rd. Finally, MKM Partners reaffirmed a “buy” rating and set a $89.00 price target (up previously from $86.00) on shares of Arch Coal, Inc. Class A in a research note on Tuesday, May 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $91.67.

About Arch Coal, Inc. Class A

Arch Coal, Inc is a coal producer. The Company is engaged in the production of thermal and metallurgical coal from surface and underground mines located throughout the United States, for sale to utility, industrial and steel producers both in the United States and around the world. The Company operates mining complexes in West Virginia, Kentucky, Maryland, Virginia, Illinois, Wyoming and Colorado.

Institutional Ownership by Quarter for Arch Coal, Inc. Class A (NASDAQ:ARCH)

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